Chapter 875
Sending a Big Gift from the US!
Chapter 875 A Big Gift for the US!
Upon hearing this, Lin Haoran smiled slightly and said, "Mr. Malcolm, there's no need for so many pleasantries. Just tell me what kind of price Forbes is willing to pay?"
His direct words instantly shattered the last shred of dignity and room for maneuver that Malcolm Forbes was trying to maintain.
That smile even carried a hint of amusement, as if it had already seen through all his cards and struggles.
Malcolm's throat bobbed, feeling even drier.
He quickly bent down, took out the draft cooperation document from his briefcase—which had been repeatedly revised and was almost crumpled—and respectfully handed it over with both hands, his posture almost humble.
"Mr. Lin, this is a letter of intent for future in-depth cooperation that we have drafted after an emergency internal discussion."
We recognize that the Forbes Group is facing unprecedented challenges and urgently needs to bring in visionary and capable strategic partners for fundamental restructuring.
After careful consideration, we are willing to offer you 20% of our shares to become a significant shareholder of Forbes Group and to have you sit on the board of directors. In the future, our accumulated core database resources will also be fully open to you, seeking the deepest integration and synergy.
Upon hearing this, Lin Haoran thought to himself, "Just as I expected."
Forbes seems to have nothing left for him to look forward to these days. He has no money, his influence is suffering a severe blow, and his brand value has been greatly diminished.
Do you think you can get his understanding and Citibank's withdrawal in exchange for just 20% of the shares and a board seat?
That's incredibly naive, or rather, incredibly out of touch with reality.
He didn't take the document, or even glance at it; he simply picked up his teacup and gently blew on the tea leaves floating on the surface.
Then he looked up at Malcolm Forbes, the playfulness in his eyes turning into undisguised indifference.
"20% of the shares? A seat on the board of directors?" Lin Haoran's voice was calm.
"Mr. Malcolm, do you think I'm so bored that I need to spend money to buy a minority stake in a troubled and uncertain company, and then go to your board meeting to listen to a bunch of overwhelmed people arguing?"
Or do you think I went through all this for something so insignificant?
To be honest, Lin Haoran really didn't intend to acquire Forbes.
Because he knew that Forbes, as a mainstream media outlet, had a very special status.
If he were to actually acquire Forbes magazine, it would attract strict scrutiny and high vigilance from relevant U.S. authorities, and could even trigger political obstruction.
Is a powerful Chinese-American financial tycoon with deep connections controlling one of the most influential business media outlets in the United States?
The media industry is truly unique; it's a tool for controlling public opinion.
Its unique characteristics are more sensitive than those of financial institutions like Citibank.
Financial capital can operate internationally, blurring national boundaries to some extent, but the media's role as a mouthpiece remains a core concern in any sovereign state.
Especially now, with the Cold War mentality between the US and the Soviet Union still lingering, the attempt by a capital force from the East to control important commercial and public opinion spheres in the United States will touch deeper political and ideological nerves, and the resulting backlash may extend far beyond the commercial realm.
Lin Haoran was well aware of this.
His global strategy emphasizes going with the flow and making precise entries, rather than forcibly crossing red lines that are temporarily insurmountable.
What he wants is real influence and benefits, not a hot potato of ownership and empty titles.
In the current climate in the United States, this is almost impossible to allow and would bring him countless unnecessary troubles and attention.
He put down his teacup, leaned forward slightly, and stared sharply at Malcolm Forbes, as if trying to pierce through the panic in his heart.
"Let me tell you, Mr. Forbes, I have no interest in acquiring the Forbes Group itself, let alone just a mere 20% stake."
Malcolm was stunned and didn't react for a moment.
Not acquiring?
What does the other party want?
He thought Lin Haoran would propose even more demanding acquisition terms.
His bottom line is that Lin Haoran can invest in the Forbes Group, but control of the Forbes Group will remain in the hands of the Forbes family.
After all, the Forbes Group is not just a company, but also a symbol and source of honor for their family, the culmination of generations of hard work.
If he were to sell it completely, Malcolm Forbes would become a sinner to his family and would have no face to face his father even after death.
The Forbes Group's wealth is actually not that great; if ranked by market capitalization, it might not even be in the top 500 in the United States.
Its true value has never been its assets or profits on paper, but rather its intangible influence and credibility as a global business opinion barometer, as well as the "brand halo" that has been honed over a century and regarded as a business bible.
This influence is the foundation of the Forbes family's existence, and it's also why Malcolm would rather beg for mercy than completely relinquish control.
Without control of this influence, Forbes is just an empty shell.
In the United States, Malcolm Forbes is best known not for his role as chairman of the Forbes Group, but for his extravagant lifestyle and astonishing collection.
Private island, hot air team, Harley-Davidson motorcycle team, lavish parties, and the "Forbes Castle" that houses countless art treasures and quirky gadgets.
In many people's eyes, he is first and foremost "Malcolm the big spender," and only secondly a media mogul.
This image, to some extent, diminishes his seriousness as a business leader, and makes his current disheveled and pleading appearance all the more striking to those who know the inside story, even carrying a hint of irony.
However, in this cold reception room in Hong Kong, the champagne at the party, the collections in the castle, and the hot air balloons in the sky have all become distant and illusory backgrounds.
The reality is that, in order to preserve his family's most core and irreplaceable asset—its influence—he has no choice but to bow down to a young financial tycoon from the East.
Most importantly, he was worried that once the Forbes family lost control of the Forbes Group, his luxurious life would collapse like a castle in the air and could no longer be maintained.
The annual fees for those private islands, the maintenance of the hot air balloon fleet, the operation of the castle, and the never-ending lavish parties all require Forbes Group, this "reputation monetization machine," to continuously provide cash flow and credit endorsement.
Without this foundation, Malcolm Forbes will no longer be the enviable capitalist and lifestyle artist, but will likely become a washed-up millionaire who squanders his fortune or even incurs heavy debt.
This fear of his personal lifestyle collapsing, intertwined with his sense of responsibility for family honor, made his current choice even more painful and left him even less confident when facing Lin Haoran.
Lin Haoran took in the complex emotions that flashed in Malcolm's eyes: confusion, struggle, fear of losing control, and the hidden worry that his luxurious lifestyle might come to an end.
He sneered inwardly; this media mogul's weaknesses were more numerous and more obvious than he had imagined.
Lin Haoran looked at the confusion, struggle, and the pride that Malcolm was trying so hard to maintain yet was crumbling, and he understood.
Lin Haoran stopped beating around the bush and said directly, "Mr. Forbes, to be honest, I am not satisfied with your proposal."
“Mr. Lin, please tell me your conditions!” Malcolm’s heart pounded as he waited anxiously.
At this moment, this famous American media mogul was almost completely under Lin Haoran's control.
“Mr. Forbes.” Lin Haoran’s voice returned to its previous calmness, but the weight of his words remained undiminished.
“We don’t need to waste time on whether to acquire it. My conditions are simple, but they must be carried out without fail.”
Malcolm sat up straight, completely focused, his hands unconsciously clenching again.
“First,” Lin Haoran held up a finger, looking directly at the other person, “Forbes Group needs to publicly and formally apologize to Oriental Media Group for that inaccurate report and its subsequent impact.”
Malcolm was slightly taken aback. Oriental Media Group?
He immediately realized that it was Lin Haoran's media empire, the same media outlet that had previously published the rich lists of Hong Kong and Singapore, subtly competing with Forbes, and which might have played some role in this incident.
A public apology to a direct competitor?
This is more embarrassing than simply apologizing to Lin Haoran personally, and the damage to Forbes' reputation is more direct and widespread.
Lin Haoran seemed to see through his thoughts and continued, "The apology letter must acknowledge that the report contained serious bias and factual errors, causing undue damage to the professionalism and credibility of Oriental Media Group and its affiliates, and express sincere apologies for this."
This apology letter will not only be published prominently in the next issue of Forbes magazine, but will also appear for three consecutive days in the business sections of The Wall Street Journal, The New York Times, and The Washington Post.
For three consecutive days!
In the three most mainstream and influential newspapers in the United States!
Malcolm gasped; this was practically a public execution!
In this way, the reputation and authority of Oriental Media Group in the US and even the global business community will soar, while Forbes will lose face and suffer another severe blow to its credibility.
This is far more powerful than simply apologizing in one's own magazine.
“Mr. Lin.” Malcolm’s voice was almost trembling.
"Apologizing to Oriental Media and having it published in three major newspapers for three consecutive days—this will make Forbes a complete laughingstock! How are we supposed to continue this after this…?"
"How do we establish ourselves?" Lin Haoran interrupted him coldly.
"Mr. Forbes, when you published that report, did you think about how to establish yourselves? Now you should be thinking about how to survive, not about saving face."
A public apology to Oriental Media demonstrates your determination to correct your mistakes and shows your willingness to cut ties with past errors and strive for a new beginning.
Being a laughingstock is better than being a defendant and a bankrupt, isn't it?
Malcolm looked ashen and remained silent.
“Second,” Lin Haoran held up his second finger.
"Forbes Group has accumulated core business database resources over decades, including but not limited to global corporate profiles, executive information, industry data, and wealth tracking models. These resources need to be fully opened to Oriental Media Group, and a long-term data sharing and in-depth cooperation and development agreement needs to be signed."
Oriental Media has the right to use this data for reporting analysis and product development within the agreed scope, and enjoys priority cooperation rights for commercial products based on this data.
This is one of the ways that directly drained Forbes' core assets.
What Lin Haoran needs is not control of the Forbes Group. He would be satisfied if he could turn it into a pawn, a tool for intelligence in the United States. The database is the foundation for Forbes' in-depth reporting and customized intelligence services, a crucial support for its professionalism, and even includes data from the upcoming list of America's richest people.
Opening up completely to competitors is tantamount to handing over one's most valuable arsenal to others, and will also cultivate an even stronger opponent.
However, Malcolm remained calm about this, since he had already brought it up earlier.
“Third,” Lin Haoran put down his hand and continued to state the next condition.
"Regarding the future equity structure of Forbes Group, I personally will not directly acquire Forbes shares, but I believe that Forbes needs to introduce a truly strong, stable shareholder that can provide long-term support and security."
He paused, looking at Malcolm's wide eyes, and slowly said, "I intend to suggest that Citibank consider making a strategic investment in Forbes Group and becoming its largest shareholder."
That's right, Lin Haoran plans to give Citibank a big gift in return.
In this Forbes incident, Citibank's proactive assistance resolved the issue perfectly without him having to intervene personally.
This was naturally Citibank's attempt to cultivate a relationship with him.
Conversely, his relationship with Citibank is relative.
Since Citibank has done him a favor, he might as well return the favor.
In this way, the cooperation can last longer, and his importance within Citibank will be even greater.
Controlling a mainstream financial media outlet with global influence like Forbes has immense strategic value for Citibank's brand image, maintenance of high-end client relationships, acquisition of business intelligence, and even its influence in certain areas of public opinion.
Lin Haoran believed that Citibank would be interested in this.
Making this happen can be seen as Lin Haoran's way of repaying Citibank for its generous help.
"What?" Malcolm Forbes exclaimed, jumping up from the sofa with disbelief and rage on his face.
"Let Citibank become the largest shareholder? That's impossible! Absolutely not! The Forbes family will never give up controlling stake!"
The Forbes Group has always been a source of pride for the Forbes family and is a family business.
But if the major shareholder of Forbes Group becomes someone else, what kind of family business is it?
This directly crossed Malcolm Forbes' bottom line.
Lin Haoran calmly watched his excited reaction, and only after he calmed down a bit did he gesture for him to sit down.
“Mr. Malcolm, please calm down and let me finish.”
Malcolm was panting heavily, his chest heaving, but he forced himself to sit down, his eyes fixed on Lin Haoran.
"First of all, Citibank is a top financial institution in the United States and even the world, with an excellent reputation and strong financial strength. With it as a major shareholder, it can not only immediately stabilize the financial and credit crisis that Forbes is currently facing, but also bring strong capital backing and potential business resources to Forbes."
"This will play an immeasurable role in rebuilding market confidence, stabilizing advertisers, and coping with regulatory pressure," Lin Haoran calmly analyzed.
Malcolm was completely disoriented.
From a business perspective, he cannot deny Lin Haoran's analysis.
If Citibank does become a major shareholder, it could indeed solve many of Forbes' current problems in one fell swoop.
But what's the point of negotiating if the family loses control of the Forbes Group?
He simply couldn't accept it!
Seeing this, Lin Haoran smiled slightly.
He knew the other party would react this way.
That's normal.
He continued, "I did not say that the Forbes family should completely withdraw. You can continue to retain a significant percentage of the shares and be responsible for the day-to-day operations and editorial affairs of the Forbes Group."
As a financial institution, Citibank is unlikely to directly intervene in specific news gathering and editing operations; they value strategic synergy and return on investment more.
Your family can still control Forbes and continue the tradition, only now it will be co-owned with powerful partners instead of having absolute control.
Isn't this much better than selling the company to an outsider like me, or watching it sink in a storm of lawsuits?
Malcolm's mind was racing.
Anger, humiliation, fear, and a strange glimmer of hope amidst despair intertwined.
A public apology was used to gain an acknowledgment of wrongdoing and a possible reconciliation with public opinion.
While opening up the database to Oriental Media is painful, it might be able to secure some form of "cooperation" rather than outright confrontation.
Bringing in Citibank as a major shareholder may seem like a loss of absolute control, but it could actually bring much-needed stability and resources, while the family retains management control and considerable interests...
This is indeed a path that seems more likely to allow the Forbes family to survive with dignity than Lin Haoran's direct acquisition or the various control schemes he had previously considered.
In particular, the introduction of Citibank could even be seen as a powerful alliance in Wall Street and Washington, which could offset some of the negative impact of offending Lin Haoran.
However, all of this is predicated on the Forbes family swallowing the humiliation of publicly apologizing to their competitors, handing over core data resources, and relinquishing their status as the largest shareholder, a position passed down through generations!
“Mr. Lin.” Malcolm’s voice was extremely dry.
"Apologizing to Oriental Media and publishing the apology in the newspaper would be a huge blow to the Forbes Group. Also, making Citigroup the largest shareholder is something I need time to consider and discuss with my family and the board of directors."
“You don’t have much time left, Mr. Malcolm,” Lin Haoran said without any mercy.
“Every minute in New York, Forbes is bleeding. The Department of Justice investigation won’t wait for you, the shareholder lawsuits won’t wait for you, and the advertisers’ patience won’t wait for you either. What you need now is not lengthy consideration, but decisive action.”
He stood up, walked to the window, his back to Malcolm, and his voice came through clearly: "This is my final solution. Accept it, and Forbes will still have a chance to rise from the ashes, although it will involve growing pains and changes."
If you refuse it, you can immediately buy a plane ticket back to New York and face the outcome you can already foresee.
For the sake of your family, for the employees who live off the Forbes, and for your lavish lifestyle that requires a constant influx of funds, I think you know what to choose.
This last sentence once again struck a chord with Malcolm, hitting the softest and most realistic part of his heart.
His castles, islands, collections...
The maintenance of this glamorous lifestyle depends on a Forbes Group that is still functioning normally and has cash flow.
If the Forbes Group goes bankrupt because of this, will his wealth still allow him to live this kind of life?
A deathly silence fell over the reception room.
Only the low hum of the central air conditioning and the hustle and bustle of the distant city outside the window could be heard.
Malcolm Forbes slumped on the sofa, as if his soul had been ripped away.
He stared blankly at the group photos on the wall that symbolized Lin Haoran, then looked down at his well-maintained but slightly trembling hands.
The expectations of his father and grandfather, the glory of the family, and his own extravagant lifestyle...
All the weight was concentrated on this moment.
I don't know how much time passed, maybe only a few minutes, but it felt like an eternity.
He finally slowly raised his head and looked at Lin Haoran's tall back, his eyes filled with exhaustion, despair, and a sense of resignation.
He opened his mouth, tried several times, and finally managed to utter a hoarse and labored sound:
"Mr. Lin, regarding the specific wording of the apology letter, the boundaries and cooperation model of database access, as well as the specific valuation, equity ratio and governance arrangements for introducing Citibank as a strategic investor, these all require the legal and financial teams of both parties to immediately begin detailed negotiations."
Furthermore, I need Mr. Lin's assurance that while Citibank can become a major shareholder, control of the company will remain with the Forbes family!
At that moment, Malcolm Forbes seemed to have aged ten years in an instant.
Lin Haoran slowly turned around, his face showing a confident expression that he had expected this all along.
He did not immediately answer Malcolm's question about taking control, but instead strolled back to the sofa and sat down again.
"Mr. Malcolm, regarding the future operations of the Forbes Group, I can give you a clear guarantee, as long as the Forbes family demonstrates sufficient sincerity in cooperation and ensures that the future development direction of Forbes aligns with our shared expectations."
In particular, if the objectivity and prudence of its content are ensured when it involves specific regions and people, then the day-to-day management can continue to be handled by the Forbes family team.
As a strategic investor, Citibank's core interests are financial returns and strategic synergy, rather than directly intervening in highly specialized and sensitive businesses such as media operations.
This point can be explicitly included as a clause in the negotiations.
He paused briefly, allowing Malcolm to process the promise.
Then, changing the subject, his tone became more serious: "However, wielding power is not without cost or constraint, and the board structure needs to be adjusted."
As a major shareholder, Citibank must occupy a corresponding board seat and have a say or even veto power on core matters such as major strategic decisions, budget approvals, and senior management appointments.
This is a fundamental rule of modern corporate governance: the Forbes family can continue to serve as CEO and lead day-to-day operations, but they must operate within a new, stronger board framework.
Lin Haoran's other identity is an executive director of Citibank, so he is naturally qualified to negotiate on behalf of Citibank.
Moreover, this was a generous gift that he himself had sent out.
If Citibank were to intervene, it might not be able to persuade Malcolm Forbes to relinquish such a large amount of profit.
Malcolm's heart sank, but he wasn't surprised.
This is much better than the worst-case scenario, which is being completely kicked out of management.
(End of this chapter)