Jia Yueting (Chinese: 贾跃亭; pinyin: Jiǎ Yuètíng), born 6 February 1973 in Xiangfen County, Shanxi, is a Chinese entrepreneur, the founder and CEO of Le.com and LeEco. He also founded LeSports (was a subsidiary of Le.com) and was the largest shareholder of Coolpad Group. Listed on Forbes with $6 billion net-worth as of November 2015.
Based on a report published by Techinasia , earlier this week, the tech magnate resigned from his post as company CEO, following months of shrinking cash reserves and scandal. Top executives have abandoned Faraday Future, the Chinese tech company’s US self-driving car unit. In the span of just six years, the tech conglomerate has burned through more than US$7 billion, leaving its business units precariously strapped for cash.
In the midst of fundraising and selling shares, Jia continued to push his business to the max. In 2015, the tech giant invested US$700 million into car-hailing app Yidao Yongche. In 2016, it announced its intentions to buy US television maker Vizio for US$2 billion and became the majority shareholder of Coolpad. It also bought Yahoo’s property in Santa Clara, California.
LeEco also unveiled its own self-driving car brand, apparently separate from Faraday Future, and started making plans to produce the LeSee sedan in the US. Neither LeSee nor Faraday Future have set a firm launch date for their first cars.
Jia slashed his salary to 15 cents. Not surprisingly, by the end of the year, Jia’s business found itself running out of cash. By November, things were dire. Jia slashed his salary to 15 cents and penned a long, confessional letter to employees, admitting that the company had grown too fast.
Not long after Jia’s letter, the company raised another US$600 million, part of it coming from some of the founder’s business school classmates. Most of the capital went to LeEco’s car unit, which had already cost the company US$1.45 billion in early-stage development.
Curious by his Bazi chart on what actually could have gone wrong for the Billionaire. We look at Jia Yueting Bazi chart for analysis.
The Bazi chart being weak in nature is well supported in the luck pillar of having a series of good pillars until it hit the age 42 luck pillar 7 Killing. He officially enter the luck pillar of 7 Killing in 2015. This was also the time where it start to go downhill. 7 Killing can also bring stress in corporate governance. Having self element being countered would meant a large amount of revenue and fortune would be spent for new acquisition. However, the You Metal that exist in the Earthly Branch remains a good support branch for him as it meant he would still be able to source for new injection of funds despite the huge expansion footprint. The real problem would come once 2017 Ding You year is fully exhausted. Funding would start to be a problem. Having a rooted Hurting Officer stars in the month pillar represent strong entrepreneurship and someone who is willing to take huge risk. However, expanding too fast with no strong sustainable growth can wipe out all the cash flow in no time. This 10 years would be a challenging period for him nonetheless. The Bazi luck governs a good 33.3% of event happening, we don't have information of his current residential place, although i'm sure the house he's staying now plays an important role to this downfall. The feng shui of a house governs a good 33.3% of influence. Not being supported well by the environment can meant a huge difference even if one is a billionaire. The next pillar of 52, he would rebound upward again. Wishing him the best of luck.
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