Chapter 612
Large Profits
Since late August, Middle Eastern crude oil has consistently traded above $28 per barrel; Texas crude oil, on the other hand, has been $4-5 per barrel higher than Middle Eastern crude oil, showing a more aggressive upward trend.
By late September, Texas crude oil had risen to $40 a barrel, while Middle Eastern crude oil rose to $35 a barrel, and then fluctuated within a small range.
An office building in New York.
"Ms. Chen, the futures positions have been liquidated, and we have made a total profit of US$3.3 million." Husky's head of investment strategy, Wenders, excitedly reported.
It was a stroke of genius.
They started buying West Texas Intermediate and Middle Eastern crude oil futures in late June and began closing out their positions in early September, ultimately reaping huge profits.
Chen Zeli, standing next to him, twitched his eyelids. Husky had made a profit of $3.2 million in spot crude oil and $3.3 million in futures, for a total profit of $6.5 million.
According to his understanding, this $6.5 million profit would be enough to greatly improve Husky's financial situation, and even allow for further expansion.
Chen Siqi nodded calmly and said, "Now that we've closed the positions, we should head back to Canada. The funds must be safely transferred to our account. Husky needs these funds. As for all the staff in Husky's investment department, the company will later fund a vacation to Hawaii for everyone and their families, and bonuses will be awarded as well."
Thank you, Ms. Chen.
Everyone cheered, and they immediately began to look forward to the 'reward'.
After everything was settled, Chen Siqi said to Chen Zeli in her office, "Hurry back to Vancouver and prepare for the sales of the second phase of the World Expo!"
Chen Zeli said, "Sister, don't worry. The first phase of the World Expo sales was a complete success. All 146 residential units were sold out in half a day. This project is a long-term plan. I plan to sell the second phase, which will only have about 100 residential units, in the first half of next year. It will definitely not take more than a day. Although this oil crisis has a big impact, based on our family's cashing out situation, it may not last too long and may not have as much of a impact on the world economy as the previous two crises."
Chen Siqi was pleased that her younger brother had analyzed two things: First, the family's cashing out meant that their grandfather was orchestrating the move, indicating that oil prices would not continue to rise; second, the current oil crisis would not last long, which was crucial, and the speed and decisiveness of the family's cashing out confirmed this.
She remembered her grandfather saying that the United States would not allow the oil crisis to affect its own economy, so it would inevitably try to increase production in other Middle Eastern countries and use the strategic oil reserves of multiple countries.
However, he has always been strict with his younger brother, so she said, "What are you so happy about! The buyers of the 146 residential units in the first phase of Expo 2019 are basically people who have moved from Hong Kong to Vancouver. What does that tell you?"
Chen Zeli immediately realized what was happening and said, "This indicates that a new wave of emigration is sweeping through Hong Kong. These people are taking their wealth with them and moving overseas, which is a loss to Hong Kong's wealth."
Chan Sze-ki said, "Yes, our family regards Hong Kong as our base and spares no effort in developing Hong Kong, but we still cannot avoid contributing to other countries. Of course, this is unavoidable."
"Sister, you're just like Grandpa, worrying about the country and its people!"
“Go away, I’m not even as good as my father, how can I compare to my grandfather?”
. . . . . .
Beginning of November.
In an office building in Singapore, Chen Guangliang secretly summoned Donatella, Guan Jiahui, Li Zhi, Monica, Zhang Min, and Li Jiaxin.
Chen Guangliang introduced everyone: "This is the management team of the 'family office'. This is the president, Sanderson, and this is the investment president, Couls."
The management of these family offices were all transferred from the 'First Family Office'. Of course, they were all transferred from the middle level, and only Sanderson could be considered a senior manager. He was originally the 'Administrative Governance Manager of the First Family Office'.
For the first time, the six women experienced the advantages of a 'family office'. With this organization, they and their children would not only receive a monthly allowance, but would also have financial advisors, legal advisors, educational advisors, travel advisors, and so on.
Of course, the staff size of this 'second family office' is only one-fifth that of the 'first family office', and it is just getting started.
Upon arriving at the conference room, Sanderson explained, "Currently, the total funds managed by our 'Chen Family Office' have reached $5 million, and we have tentatively set a monthly living allowance of $3 for each family member."
Donatella couldn't help but say, "Five hundred million US dollars? I remember Sir Chen said he would come up with two hundred million US dollars."
Sanderson said with a smile, "Miss Donatella, Sir Chen did indeed put up 2 million US dollars, but Sir Chen recently invested in crude oil futures and shorted the Nikkei index, and made 3 million US dollars."
As far as he knew, Sir Chen's "First Family Office" investments had already become quite conservative. Of course, he wasn't in the investment department, so he didn't know the specifics.
Sanderson and others admired Chen Guangliang most for his "charm with women." These women would not fight over the family property, would not be jealous, and would not cause any major problems. It was simply legendary.
Donatella and the others looked at Chen Guangliang with surprise and joy. They knew that this man would support them, his lovers and children, for the next few decades.
Chen Guangliang said with a smile, "In all my years of investing, it's hard to achieve a return of less than 20% per year. So with this steady return, the family office will have substantial assets in 20 years, ensuring your future well-being."
The six women wanted to say that twenty years from now, you will still be full of energy.
However, since there were outsiders present, everyone nodded in agreement.
Subsequently, a 'Council' was established, with Chen Guangliang and his six mistresses serving as permanent directors. He possessed veto power. If a three-on-three tie occurred when he was unable to vote, the remaining vote would be cast by the management. This resolution remained invalid until the 'second-generation members' turned eighteen.
Chen Guangliang's goal is to have each of the six women give birth to at least one son for him, and then have each of them give birth to two. He has already fulfilled the first requirement, and the second is also in the planning stage.
Besides the 'second family office', the personal assets of the six women are also quite considerable. For example, Kwan Ka-wai and Donatella have a net worth of over US$2 million, Lee Chi's assets exceed US$1.2 million, and the other three women have over US$8000 million (over HK$5.5 million).
After the family office was settled, Chen Guangliang took six women aboard the "Tranquility" superyacht in Singapore waters. Their children were all on board, and the group had a reunion.
night.
In the SAP room of the superyacht, Donatella and Monica are enjoying an aromatherapy massage, with two young SAP technicians patiently serving them.
The two female technicians were quite good-looking, wearing blue uniform skirt suits and black stockings, which was pleasing to the eye.
But inwardly they were amazed by the perfect figures and fair skin of their boss's two exotic lovers. At this moment, Donatella and Monica were naturally naked, enjoying the service and feeling completely at ease.
“Monica, I’m thinking of getting a new yacht, one of those 100-foot Riva luxury yachts!” Donatella said to Monica.
They made a lot of money this time, also participating in Brent crude oil futures, albeit with a smaller investment, but still earning tens of millions of dollars. Monica excitedly said, "Really? That's great! I'll be a regular customer from now on."
The two women have a very good relationship; Monica considers Donatella her older sister, and they even do business together. In their daily lives, they are practically family, always getting together on weekends, and they have many mutual female friends.
Isn't this also a form of 'mutual surveillance'?
Donatella has already given birth to two sons for Chen Guangliang, and Monica has already given birth to a daughter. The second one is already scheduled. This trip is to learn from Chen Guangliang.
While the two women were talking, Chen Guangliang walked in wearing floral shorts. The two SAP technicians were about to speak when they were immediately instructed to be quiet.
. . . . . . .
“Mother, if there’s anything you need us to do, we will definitely do it for you.”
Yan Renmei said coldly, "I ordered you to keep an eye on your father. Can you do that?"
Chen Wenjie gave an embarrassed smile and said, "What did Father do to upset you? Let's go and talk to him."
I wouldn't dare offer any advice; right now, the priority is to quell my mother's anger.
Yan Renmei didn't want to waste any more words and said, "Your father is going too far these days. I've heard that his mistresses are all richer than the last. I'm asking you, how much of the profits from the five groups has he taken?"
So that's what it was about.
The mother may not want to get involved in the father's philandering, but she cares that the family's assets cannot be squandered by outsiders.
Chen Wenming immediately said, “Mother, Father has given almost all of the dividends from our five groups to us and the foundation since the 1980s. He has hardly taken a single penny. In addition, the second, third, and fourth wives are basically the same. Father can be said to have given us everything he had. There is no situation where he gave anything to outsiders.”
Yan Renmei frowned and said, "But I know that he has a mistress in Hong Kong named Guan Jiahui, who is very wealthy and runs a business called IT Fashion Retail."
Chen Wensheng quickly said, "Mom, I know a little about this. Although Father left his assets and business to us, you know his abilities. He's got the ability to predict the future in real estate, stocks, and futures trading. Besides, this lady has taken out a lot of loans at Ping An Bank and likes leveraged investment, so it was Father's advice."
Chen Wenjie also defended his father, saying, "Mom, you indulged Father when you were young, so it's obviously inappropriate to pursue this now. As for the businesses of us five siblings, Father still has half the equity. It would be reasonable for him to take half of the profits, but he almost always gives that half to us or to the foundation for charity. The second, third, and fourth wives have all offered him money, but he never takes a penny. If you question Father about this, I'm afraid..."
Yan Renmei didn't panic. Always smart, she realized she had almost caused a big problem.
The second, third, and fourth wives actively gave their husbands money to "pick up girls," yet she insisted on investigating whether her husband was "giving money to his mistresses." Does this still have the demeanor of a first wife?
In fact, she also worried that her husband would become senile and one day give some of his property to his mistress and illegitimate children that he shouldn't have—for example, the shares of the five conglomerates, half of which actually belonged to her husband (in a father-son trust).
Looking back now, it's impossible that her husband was so confused, and that even their children believed him. She clearly almost made a mistake.
However, she naturally wouldn't show this in front of her children, and immediately said, "I'm also thinking of you. Although your father passed on his business to you, it's a father-son trust, which is different from other families' situations."
Chen Wenjie immediately said seriously, "We trust our father. And even if he really gives us half, we won't have any other thoughts about him."
The other three sons stepped forward and gave the same explanation.
Only her daughter, Chen Mengyi, came to Yan Renmei's side, massaging her shoulders and saying softly, "Mom, with my brother's strength, he's a big shot in his own right. How could he be controlled by others? Besides, Father is still clear-headed! So, don't worry about us children. When Father comes home, you can take good care of him. Maybe he'll think the flowers in the house are the most beautiful."
Yan Renmei pinched her daughter and said, "I thought you were the most sensible, but it turns out you were the naughtiest one."
However, Su Zhan's mood improved as well.
He then said, "I summoned you here today solely for your own benefit, and it has nothing to do with your father. Once you leave this room, I will not forgive anyone who dares to mention it again."
Yes, Mother.
The five siblings dared not utter a word, and promised to keep what happened today a secret.
. . . . . . . .
“Dad, this time, with 7000 million barrels of crude oil, Global Shipping made a total of 11 billion US dollars. This money is yours, and I will transfer it all to your account.”
Afterwards, Chen Wenming immediately went to his father and shared his great haul without reservation.
Chen Guangliang naturally didn't suspect that his son was testing him, but he wasn't going to refuse a single penny, so he said, "I'll take 5 million US dollars, and you can keep the rest!"
Chen Wenming quickly said, "Dad, this time Global Realty and Wharf Holdings have cashed out a large amount of cash from Japan, which is enough to support the future development of Global Group. You need the money right now, why don't you take it!"
Chen Guangliang's old face almost turned red. He was in dire need of money, which was exactly what he needed to do with picking up girls.
These days, even sons know to give him money to woo girls. Is that considered filial piety?
Of course, this money originally belonged to him.
"I don't need that much. I know how to invest, and I can never spend all the money."
"Alright! Father, please don't hesitate to ask if you need anything."
Chen Guangliang asked with some suspicion, "You're acting strangely today. Is there something you're hiding from me?"
Although Chen Wenming was afraid of Yan Renmei, he had always idolized his father, so he could only honestly say, "Only my mother and the others know about you."
"Alright, I'll handle these things. You don't need to get caught in the middle and make things difficult for yourselves."
Thank you, Father.
Chen Guangliang wouldn't let his children take sides, and besides, he believed his wives wouldn't really oppose him—they were all getting on in years! (End of Chapter)