The Highest Level Son of a Chaebol Family - Chapter 387



Only Krnovel

387. John Burr wins

Grandfather was the flagship.

“What are you taking over?”

I just said Gulf.

“Isn’t that guy Warren Buffer only owning 2% of the shares?”

Grandfather shook his head.

“We need to raise at least a 30% stake, but it’s hard to convince the financial sector, and even if we’re lucky enough to convince them, oh man, the road is long!”

Grandfather let out a long sigh.

“No matter how you look at it, it doesn’t make sense. No matter how you look at it, it’s impossible.”

“Mr. Chairman, our master did something so ridiculous.”

President Shim came closer as if he had been waiting and reported quietly.

“Can’t you see how desperate those Gulf States are? They’re on a roll right now.”

“why?”

“The master threatened me by saying that he had acquired a 50% stake in Gulfsa.”

“what?”

President Shim smiled proudly.

“You’re saying that the Gulf negotiating team leader paid back exactly what he had threatened by mentioning Yukong’s shares, and even more than that?”

“Does that make sense?”

“Have you seen me talking nonsense?”

“… … .”

Grandfather kept his mouth shut.

My grandfather knew better than anyone what kind of great person President Shim was, having worked with Taesung Group for a long time.

“This isn’t like I’m possessed by a ghost.”

Grandfather stroked his chin with a bewildered look on his face.

“Why, there is. Hit the goblin’s club once and the gold and silver treasures fall. Hit the goblin’s club again and they fall.”

“Yukong and Gulfsa, in a jiffy.”

President Shim heard what Grandfather had to say.

Grandfather and President Shim burst into laughter at the same time.

“It’s something I still can’t believe even after hearing it!”

“You still don’t believe Warren Buffer came all the way here?”

President Shim straightened his body.

“If you add up to 2% of Berkshire Hathaway, a hostile takeover is possible regardless of Gulf’s intentions.”

“Isn’t a hostile takeover nearly impossible because of corporate defense mechanisms?”

“It’s almost impossible.”

“There is no way that the financial sector, which has been building financial transactions with the company for a long time, would lend its support to us, who have no idea about it?”

“Usually, that would be the case.”

President Shim smiled brightly.

“But our master is no ordinary person.”

It was a voice full of pride.

When my grandfather, who was very hot, tried to ask me again, I shook my head.

“Does that matter now? Even though Mr. Buffer is coming over there?”

Before we knew it, Warren Buffer was right in front of us.

Grandfather welcomed us warmly with open arms.

“Welcome, Mr. Buffer!”

“Thank you for your hospitality. You really are not ordinary, kid, to have me involved in the issue of oil field development at a time when the oil crisis is happening.”

Warren Buffer sniffed the air.

It’s like smelling money.

“It must be a big deal since even the Gulf people are flocking here.”

“I saw it right away.”

I pointed to the one-page contract I had given my father.

“The President will be waiting. Dad, you should go quickly and get the seal on the Yukong acquisition contract.”

“Then who will take care of Mr. Buffer’s business?”

“This is President Shim.”

Both of them opened their eyes wide at the same time.

President Shim was startled and pointed at himself with his index finger.

“Me? Not Master Jeonghyeok?”

The surprised grandfather also pointed to President Shim.

“Not me, but you, Shim Won-cheol?”

“Mr. Buffer and President Shim are old friends. They met in Japan and even gave me their business cards.”

“… … I will take care of you, my lord.”

“No, I’m the grandfather, and you, Shim Won-cheol?”

President Shim snatched me from my father’s arms and hugged me.

“It’s not just me who’s familiar with Mr. Buffer. Master Jeong-hyeok was specially invited to the May shareholders’ meeting of Berkshire Hathaway. And he even sent an invitation to Mr. Buffer…”

“Then please do so.”

My father’s face immediately became convinced at the word invitation.

President Shim hugged me tightly with one arm and whispered softly.

“Could it be that the real reason you asked me to bring the typewriter was because of the contract you were signing with that guy?”

“bingo.”

“Oh my god!”

I like a smart and quick-witted man!

“What kind of contract are you going to get from that guy Warren Buffer?”

“I have to get my Berkshire Hathaway shares as promised.”

“Oh my god!”

I winked one eye.

“Don’t worry. If you can’t give up your Berkshire Hathaway stake, you can just take a bunch of other stuff instead.”

* * *

The room used with the Gulf Sa negotiation team.

Warren Buffer sat on a plush sofa, his chin resting on his arm on the table.

The eyes looking at me sparkled brightly.

“Your father is very famous.”

“Do you know my father?”

“To be honest, I didn’t know until just now.”

Warren Buffer put down his invitation to New Year’s Eve.

It was sent in the name of Taesung’s brain.

“I heard that you are Taesung’s brain, so everyone is only looking at your dad.”

Why did Warren Buffer suddenly start shouting ‘Taesung’s Brain!’ as soon as he entered?

“You were so greedy that you thought you could somehow catch me and get my investment, but as soon as you found your father, you all shut your mouths and backed off. That would have said it all.”

Warren Buffer’s lips curved gently.

“I didn’t know that my young friend would be recognized to this extent already.”

“So you did that on purpose?”

In front of everyone, he said he had acquired a 2% stake in Gulfsa and was talking about developing Saudi oil fields.

“Are you trying to find out what the Gulf people are thinking?”

“The little guy is quick-witted. Yeah, that’s right.”

Warren Buffer readily admitted.

“I can’t stand it, I’m so curious when they ask me to bring in Gulf shares.”

Warren Buffer swallowed, his mouth watering.

“Where is the Saudi heritage that your father got?”

“South of Riyadh.”

“Looking at the crude oil composition analysis report you sent, it seems that the quality of the crude oil you mined is good and the reserves are also quite large, right?”

Warren Buffer tilted his head.

“So that’s why Gulf sent a negotiating team because they were shocked. How much did Gulf ask for?”

“They were asking for a billion dollars from the beginning?”

President Shim flinched.

The way he was glancing at me from the corner of his eye was like, ‘That billion dollars doesn’t seem to be this billion dollars, does it?’

What? Why? What!

It’s not like I said anything out of the blue, Gulf Saga did call it a billion from the beginning!

“Somehow. People were talking about a billion dollars, a billion dollars.”

Warren Buffer nodded in agreement.

Secretary Tom nodded even faster with the same expression.

“If it’s Gulf, it’s tough enough. I heard that the oil field development work in Kuwait is also in its final stages?”

“Once they start mining oil fields, Gulf’s specialty is to find and secure other oil fields.”

Warren Buffer and his secretary Tom glanced at the door.

“So your father chose Gulfsa?”

“Just write a contract and come here right away.”

“Hmm, am I too late?”

“Not at all.”

I opened my coin purse.

“Before that, should we first take care of the matters that need to be coordinated with JH Investment?”

Warren Buffer pulled out a one-page contract that he had previously signed and stamped.

“Do you remember when I gave you 2.5% of Blue Stamp shares and 2% of your company shares?”

“I decided to convert it into shares of Berkshire Hathaway, based on market price.”

“There was a condition attached when I transferred my 2% stake in your company back then.”

“Conditional right of recovery.”

Warren Buffer’s face darkened.

“Only if our company’s stock price falls below $800 per share within one year.”

“What is the current price of Berkshire Hathaway stock?”

“It’s $625.”

The conditions for triggering the right of recovery have been met.

It was all because of the second oil shock.

The nightmare of the oil shock that had already been experienced was amplified into even greater anxiety, and the U.S. stock market crashed even before the Soviet-Afghan war broke out.

“For reference, the stake I handed over at that time was worth about 21 million dollars.”

“Hmm!”

When I handed over the Blue Stamp, Berkshire Hathaway’s share price was $982.

If the stock that was then worth $625 a share were to be returned, that would be $21 million worth of stock.

“If you calculate it based on the principal, it’s 33,920 shares.”

“In an instant, the stake I had to give up was inflated to 3.49%.”

“Why don’t you charge interest?”

“what?”

Why does this gentleman look so surprised?

I went over the special terms of the contract.

“Instead of receiving a deposit or a balance, the annual interest rate is set at 67.8% only when the money is recovered.”

“Well, then… … !”

“45,418 weeks. That would be 4.68%.”

“… … !”

Berkshire Hathaway’s 2% stake turned into 4.68%.

That was our conditional equity buyback agreement.

“I was excited about the opportunity to get $21 million worth of stock for free and shouted, ‘High risk, high return!’”

Secretary Tom muttered bitterly.

“Is the real oil shock something that spits out high returns due to high risks?”

“That’s what investing is all about.”

Warren Buffer also read the contract again with bitter eyes.

It was a one-page contract, so no matter how many times I read it, it was always the same.

Warren Buffer chuckled as he checked his signature and stamp, which he had scribbled excitedly at the time.

“In just half a year, our company has more than doubled its profits. This is a big blow to me as an investor.”

Warren Buffer put down the contract.

“It’s strange how, even though I feel bitter, I feel better than I thought.”

It was a strange face.

“The Blue Stamp that I was so greedy for at the time suffered a huge loss this time.”

Blue Stamp, which was once a sensation in the United States and was on a roll, could not withstand the oil shock and suffered repeated crashes.

As in its previous life, Berkshire Hathaway was left in limbo by the textile companies and Blue Stamp.

“You made a big profit by trading our company stock for a free Blue Stamp.”

“Because that’s an investment.”

I smiled broadly.

“There are people who win even in a recession, and there are people who lose even in a boom.”

“Yeah, that’s right. Hmm, but what do I do with this?”

Warren Buffer glanced at President Shim and me with a troubled expression.

“You have to pay attention to this part here.”

Warren Buffer pinpointed the specifics.

“I decided to transfer it to a cigar after a year, so I still have half a year left.”

“Until today, we only calculated the interest for half a year, but then we will have to apply the full annual interest rate?”

“But is it really going to fall any further than $625?”

Is that really true?

‘What if the Soviet-Afghan war breaks out and the price falls to $500 a week?’

So, get the Tattabul back!

‘But right now, acquiring Gulfsa is more urgent.’

There’s nothing I can do.

So, I have no choice but to hold back tears and accept some loss.

So I decided to divest my stake in Berkshire Hathaway.

But what is this?

“Just as you said, there are still people who buy stocks even during a recession. That’s why the stock market doesn’t die, it just keeps circulating.”

Warren Buffer grinned and pointed at himself with his thumb.

“I, Warren Buffer, have been making investment returns regardless of market ups and downs.”

This man is called a legend of Wall Street, an investment genius, and a textbook on long-term investment.

He was a man who personally proved through results that ‘Johnver wins!’

“I can’t do anything about unexpected external shocks. But now that I’ve hit rock bottom, all that’s left to do is go up.”

bang!

Warren Buffer placed both hands on the table.

“If JH Investment does not exercise its right to recovery and promises to extend the recovery period by half a year.”

“If you do it?”

“I promise to review the disposal of the Gulf shares that your father asked me to bring in in a positive light, unconditionally.”

My eyes widened.

What the heck is this!

“I don’t think you’ll lose anything by doing this. What do you think, Cole?”

Warren Buffer twitched the bait as if he was trying to catch a fish.

It was an offer I had been waiting for, so I happily accepted.

“Call! Then let’s write up a contract.”

I smiled broadly.

“I trust documents more than words.”

Tata, tata, tata.

As soon as President Shim finished speaking, he started typing on the typewriter like a madman.