By chance, Wang Min discovered a huge business opportunity in the leather business. To this end, he asked his father for the funds for starting a business. But his father refused. In a rage, Wang Min decided to give up his advertising company and start a business with his wife in Guangzhou.
The couple who arrived in Guangzhou set up the Far East Leather Company with a loan and started the leather import and export trade. After a year of hard work, the couple earned the first pot of gold in their entrepreneurial career.
After several years of development, Wang Min's business grew bigger and bigger, and he bought several leather processing factories in his hometown of Wenzhou, so Wang Min became the "leather king" in his hometown of Wenzhou.
In order to expand the market, Wang Min devoted all her energy to the business in Guangzhou, and the production base in Wenzhou was handed over to Wang Huai, the third brother, and King Chu, the fourth brother.
During the period of 1998, Wang Min decided to distribute some of his shares to his family, of which 20% was given to his eldest sister Wang Ping, 20% to his third brother Wang Huai, and 20% to his fourth brother Chu Wang. The 10% of his eldest brother Wang Wei was temporarily held by his mother Cai Aihua.
In 2004, after more than 65,438+00 years of development, Far East Leather Company jumped from a small leather trading company to the largest pigskin production and sales enterprise in the world, with agents in more than 60 countries and regions around the world.
Wang Min was overwhelmed by the rapid expansion of the company's business, so he hired several professional managers to participate in management and reform, and moved the headquarters of Far East Leather Company from Wenzhou to Guangzhou.
Wang Min's starting point is for the better development of the company, but his family doesn't think so. They think that Wang Min's billions of property should be shared equally by the whole family, not by one person as it is now.
Brothers and sisters stole 50 million shares.
In 2006, the subsidiary of Far East Leather Company had financial problems, and then Wang Min checked the assets of all companies in Zhejiang.
I don't know if I checked. After investigation, Wang Min found that all his shares in these enterprises had been transferred to the names of his sister and two younger brothers.
These shares total 50 million shares, almost half of Wang Min's net worth. Wang Min, who realized that the problem was serious, chose to call the police. Later, the police found Wang Min's brothers and sisters on suspicion of duty embezzlement and brought them back to the Public Security Bureau for investigation.
At this point, the brothers and sisters began to be afraid, took the initiative to find Wang Min, pleaded with him, and publicized that there was something hidden in this, and wrote a 2000-word "Statement of Major Errors".
In addition, they all agree that Wang Min is the eternal founder of the Far East. Faced with their sincere apologies, Wang Min relented and decided to forgive them.
On June 4th, 2007, the Wang family signed a Family Shareholder Agreement on the issue of equity. In addition to clearly indicating the shares held by each family member, the agreement also includes that Wang Min holds 30% of the shares of the enterprise.
In addition, in the agreement, Wang Min particularly emphasized the identity of its founder and the privilege of having one-vote veto power over enterprise decision-making. 10 days later, Wang Min went to Wenzhou Public Security Bureau and signed the record of withdrawal.
Wang Min thought the problem was solved, but it backfired. Family conflicts have not been resolved, but have intensified.
Wang Min was forcibly sent to a mental hospital by her parents and siblings.
On March 10, 2007, Wang Min went to Wenzhou to attend the board meeting as usual, but to his surprise, he was sent to the local mental hospital by his parents and brother.
Wang Min, trapped in a mental hospital, has been looking for opportunities to get in touch with the outside world. Finally, three days after he entered a mental hospital, he found the opportunity to contact his wife. Knowing that her husband was trapped, her wife was in a hurry and immediately called a group of bodyguards to Wenzhou to rescue her husband. After this incident, Wang Min officially broke off relations with his family.
Soon after, Wang Min's parents published many articles on the Internet, such as "Wang Min, the King of Leather, Your Parents Tell the Truth" and "Send the King of Leather to a Mental Hospital".
According to the article, Wang Min was sent to a mental hospital for physical reasons. They think that Wang Min's behavior is often out of control, which may be caused by excessive work pressure. Wang Min totally denied what his parents said.
Meet in the court of brotherhood.
On April 22, 2009, Wang Min decided to transfer his account, so he went to the Public Security Bureau to handle it. However, in the process of changing accounts, Wang Min found that her second-generation ID card had been processed as early as April 2006.
To this end, Wang Min is very confused. He has never applied for a second-generation ID card. How can he be told that he has applied for it? To this end, he inquired about the information of the second-generation ID card in the Public Security Bureau, and the result surprised him. The information on the ID card is his own, only that photo was changed to his brother Wang Huai's.
Without my personal presence and the first-generation ID card, my brother could apply for my second-generation ID card, which made Wang Min decide that something was wrong and filed an administrative lawsuit. On July 29 of the same year, the court made a judgment: the illegally handled second-generation ID card was revoked, and Wang Min himself was re-applied for the second-generation ID card.
Family disputes have intensified, even to the point of reversing right and wrong. After this series of things happened, Wang Min's parents posted on the Internet again, claiming that Wang Min was the first villain to complain.
They expressed their shame for the struggle between their children, and pointed out that the scale of the Far East today is the result of everyone's "bamboo raft", not Wang Min's credit. They also said that they have repeatedly tolerated Wang Min's evil deeds of suing the wicked first, but now, they are not going to tolerate it any longer and decided to let the just law end it.
In the following years, several brothers went to court, and Wang Min was unwilling to continue to take care of the company, which led to a sharp decline in the company's performance. Enterprises that cannot adapt to the development of the times are doomed to be eliminated. The company founded by Wang Min was finally destroyed by himself, which can be described as Xiao He and Xiao He.