The Highest Level Son of a Chaebol Family - Chapter 399



Only Krnovel

399. Call the White House!

President Shim presented the documents he had prepared.

“Despite its small land area, Kuwait is home to 10% of the world’s oil reserves.”

It says it all, as it once had the world’s highest per capita GDP based on oil exports alone.

“How many years ago? He advocated nationalizing the oil industry and established the Kuwait Petroleum Company in 1975.”

“That’s why there was friction between the Kuwaiti government and Gulf states.”

“Because Kuwait derives 90 percent of its national income from oil exports.”

“The Kuwaiti government would have been reluctant to see its national wealth drained through Gulf, an American company.”

Warren Buffer frowned and crossed his arms as he spoke.

“Furthermore, Kuwait is being coveted by Iraq.”

The Gulf War was the war that later broke out as a result of Iraq’s invasion of Kuwait.

“Knowing this situation, it is absurd to say that we should invest in developing Kuwait’s oil fields.”

Warren Buffer sniffed the air again.

“You’re saying that I’m strangely attracted to this ridiculous offer? It smells like money.”

“It is a very lucrative proposition. The development of Kuwait’s oil fields is in its final stages.”

President Shim smiled broadly.

“Have you heard of the Wafra oil field?”

“Wafura Oil Field?”

Warren Buffer’s eyes opened wide.

“Are you talking about the oil fields that Kuwait acquired under the agreement between Saudi Arabia and Kuwait?”

“Yes, that’s right.”

The Wafra oil field is an oil field located on the Persian Gulf coast of Kuwait and was discovered in 1953.

Among the many oil fields in the Middle East, this one had a large scale and new depths were discovered, so it had a promising future.

“It has been revealed that the number of oil wells developed so far is approximately 360, with a daily production volume of 81,700 barrels.”

“however?”

“Gulf Sa has recently discovered another oil field near the Wafra field and has begun development.”

“what?”

This was one of the most confidential of the Kuwaiti government’s top secrets.

So Warren Buffer couldn’t help but ask with wide eyes.

“What and how much did Gulf Saga discover this time?”

“We expect that by adding about 40 oil wells, daily production will increase by about 8,000 barrels.”

“Wow! That’s amazing!”

Warren Buffer’s eyes rolled rapidly.

It was clear that he was busily tapping away at the calculator in his head.

“What if our Berkshire Hathaway company contributed capital?”

“I’ll give you 1% of $100 million.”

“… … !”

Warren Buffer looked at me like he was looking at a conman.

“What do you mean Gulf’s market cap is less than $10 billion!”

“If you don’t like it, drink it. I’m confident that Gulf’s market cap will exceed $10 billion.”

“A company with a market cap of $10 billion… … .”

Warren Buffer was a long-term investment expert who made investment decisions based on corporate value.

Warren Buffer’s eyes, which had been rolling here and there, were fixed on the U.S. Ambassador to Korea.

“James, what do you think? Is this information reliable?”

“Hmm?”

“Don’t be so daunted. If you’re James, who has been exploring the oil producing countries all along, you can tell the truth of this information right away.”

“That’s, that’s what I mean… … .”

The U.S. ambassador to Korea glanced at me and glanced at President Shim.

When I nodded, he opened his mouth with a relieved look on his face.

“If we’re just trying to determine if it’s true or not, then yes. I don’t know the exact estimate, though.”

“Is that right?”

Warren Buffer’s mouth was about to open wide again.

Warren Buffer quickly collected his expression.

“What are the chances that Gulf Saga planned a showmanship stunt to attract investment funds?”

“I wonder if the scale of genetic mining and investment is too large to be dismissed as mere showmanship.”

Gulf states have poured astronomical amounts of money and manpower into developing Kuwait’s oil fields.

This is why they made such a fuss over a small achievement.

“How much do you think Gulf SA paid in bribes to key figures in the Kuwaiti government to get these oil fields?”

“her!”

Warren Buffer finally opened his mouth.

The U.S. Ambassador to Korea glanced at me and President Shim and added:

“Rumors have been circulating for quite some time that the Gulf States and the Kuwaiti government are locked in a fierce battle over ownership of this oil field.”

It was a voice full of concern.

“I think this explains why Gulf has been in such a difficult position recently.”

“Thank you, James. That was a huge help.”

Warren Buffer looked back at President Shim.

It was a low-set gaze, intent on closely observing President Shim’s reaction.

“As the new Gulf President, do you have any plan to address this issue?”

“… … .”

As Warren Buffer’s expression turned dejected, President Shim smiled brightly.

“That is the key issue that will determine the future direction of Gulfsa’s management, but there is no obligation to reveal it here, not at the general shareholders’ meeting, right?”

It was a perfectly valid answer.

“Do you have a definite plan in mind?”

“I can’t say there aren’t any.”

President Shim was confident.

“Wouldn’t it be enough if we could prove it with results?”

“But can you at least give me a hint?”

“Alliance with Saudi Arabia.”

“… … !”

It was a tempting bait that even the Kuwaiti government could not refuse.

Warren Buffer swallowed.

“Then let me ask you one more thing.”

Warren Buffer, who had been looking at President Shim indifferently the whole time, suddenly had sparkling eyes.

“The person currently sitting as the chairman of Gulf Holdings owns 17.3% of the shares. He will probably do whatever it takes to veto the motion to dismiss the CEO. Do you have the confidence to stop it?”

Before President Shim could answer, Warren Buffer was one step ahead.

“Let’s assume the worst. What if Republican James’s persuasion fails and the current US president, a Democrat, joins the Malan family?”

So, when all the friendly forces in the US turned to the current chairman of Gulfsa due to pressure from the US President?

Malan’s stake in the bank was 17.3%, and the stake in American banks was 15.5%.

A total of 32.8%.

“If you subtract all those shares, how much of the stake did JH Investment secure?”

JH Investment’s stake is 7.8%, the stake provided by the President is 4.6%, Nakamura Real Estate’s stake is 9.7%, and Japanese banks’ stake is 8.3%.

The total is 30.4%.

“Our Berkshire Hathaway is not free from the pressure of the U.S. government. What happens if we side with the current Gulf company instead of JH Investment?”

Berkshire Hathaway owns a 2% stake in Gulf.

If Berkshire Hathaway sides with Gulf, it would have 34.8%.

A look of skepticism appeared on Warren Buffer’s face.

“If you do a rough calculation, don’t you think that the current Gulf president will be able to defend it with ease?”

“We have acquired the 4.1% stake of the former Gulf CEO and executives.”

Including that, this is 34.5%.

“Those guys in prison?”

Warren Buffer clicked his tongue slightly.

“I think those guys would be more afraid of the harshness of prison life right away than of a wad of money after they’re released.”

This means that if the US government decides to do something, they will be in for a hellish prison life.

“In the end, if the worst case scenario turns into a fight over shares, JH Investment will have to step down… … .”

“That won’t happen.”

I chuckled.

“A fight for equity? Of course it’s important. But it’s not about people who are in prison.”

“hmm?”

“If you don’t like it, I’m going to send you to prison.”

“what?”

Warren Buffer let out a laugh.

“How is that possible? The scoundrel from Malanga has not committed any illegal embezzlement… … .”

“He committed treasonous acts without fear.”

“Traitorous act?”

The US Ambassador to Korea was even more shocked than Warren Buffer.

As I snapped my fingers, President Shim took out some documents.

“I’m talking about the Gulf mercenary army that was raised to protect the oil facilities in Cabinda during the Angolan civil war. They were still funding the Soviet regime.”

“what?”

The US ambassador to South Korea screamed.

It was the era of the Cold War.

“Did you get shot in the head? How could you do something so crazy… …!”

“I guess the Soviet Union came prodding us with oil and natural gas mining rights.”

“This little red bastard… … !”

That’s the end of it.

The US ambassador to Korea was furious and even snorted.

“American companies dared to collude with the Soviet regime?”

bang!

The U.S. ambassador to Korea lost control of his anger and slammed his fist on the table.

“I can’t stand this! I have to report this to the White House right now!”

“And what if Gulf News fails?”

“That won’t work! The person who reported this is a major shareholder of Gulf, and if Gulf, the world’s 9th largest market cap company, goes bankrupt, the U.S. market will also be shaken!”

The US ambassador to Korea pounded his chest with his fist.

“Leave this job to me! I will do my best to finish the job without any major fuss!”

I like it!

Let’s completely replace the rotten management team, by any means necessary!

“Whew~♬”

Warren Buffer whistled.

“When James gets angry, he really does everything he can to get you going. He really is so easy to get torn up.”

“Because espionage is not a matter that can be overlooked.”

“But there is a problem here too.”

Warren Buffer rubbed his chin.

“What if Gulf States gave the Democratic Party a huge amount of money for the presidential election? It would be hard to ignore that kindness.”

“Then it’s even better. The Gulf President is really useless and will become X.”

“hmm?”

Warren Buffer wonders or not.

“Isn’t it the opposite?”

“No matter how much campaign money you receive, there are some obligations that cannot be kept. Isn’t the current US president seeking re-election?”

They say it’s the Cold War these days.

“The US President is supporting the Gulf States in collusion with the Soviet Union. What does this mean?”

“… … !”

“Spread it to the press. Just say this and it’ll be over.”

“… … !”

Warren Buffer’s mouth fell open.

The same goes for the US Ambassador to Korea.

“Should I report this to the White House or to the Republican Party?”

Both of their eyes looking at me shook greatly.

“It’s scary?”

Thanks for the compliment!

“Is this also a strategy your father taught you?”

Instead of answering, I shrugged.

The more so, Warren Buffer exclaimed in admiration.

“If this is the case, then why are we holding the general shareholders meeting?”

It’s something that can be solved by eliminating the opponent in advance through conspiracy and trickery.

This must be the meaning of the afterword that Warren Buffer swallowed.

“The justification is also important.”

That’s what Yangji people value as their life.

“We held an extraordinary general meeting of shareholders in accordance with the procedures stipulated by law and dismissed the Gulf management that had been operating recklessly.”

This should be the phrase that should be in American newspapers and broadcasts.

“The U.S. government tolerated this because it opposed market intervention and did not interfere with the management of private companies.”

This was also something that had to be tacitly agreed upon.

“Therefore, Gulfsa replaced the company with professional management brought in from outside, and decided to merge with JH Investment.”

The results won’t change.

“The Gulf company, which had thus improved its constitution, severed its ties with the Soviet Union, succeeded in developing oil fields in Kuwait and Saudi Arabia, and began to excel in the petrochemical and derivative industries.”

The future will change.

I smiled brightly.

“Anyone have any objections?”

“does not exist.”

Warren Buffer and the U.S. Ambassador to Korea answered in unison.

“The general meeting of shareholders will be held in a month.”

“I have already received a notice convening an extraordinary general meeting of shareholders. After all, Berkshire Hathaway is also one of Gulf’s major shareholders.”

Warren Buffer grinned.

“I wonder how much chaos there will be at Gulfsa’s general meeting?”

Warren Buffer reached out first.

“Good. We at Berkshire Hathaway will stand by JH Investments based on our promise, regardless of whether there is pressure from the U.S. government or not, and we will do our part to persuade the U.S. President.”

“oh?”

Even persuading the US President?

“Instead, 2% stake per $100 million. With an alliance discount. How about that?”

Now that I look at it, I see you had another goal in mind?

“call!”

But I was willing to take Warren Buffer’s hand.

sweetly.

“This concludes the alliance.”

“Not yet.”

I opened my coin purse and took out a blank piece of paper and a Montblanc fountain pen.

“I trust documents more than words, you know?”

As expected, a golden document!

“Would you like to include our Bush family as well? On the same terms.”

“call!”

This is also a golden document!

That’s how our tripartite alliance was formed.

* * *

Gulf Tower, located in Pittsburgh, Pennsylvania, United States.

In the chairman’s office, the sound of old voices resonated loudly.

“what?”

Gulfstream chairman Thomas Mallon looked incredulous.

“You handed over the Yukong that you boasted about receiving 1 billion dollars for 25 million dollars?”

That wasn’t all.

“Hostile takeover? Is that even possible? We’re the 9th largest company in the world!”

But the reports that kept coming in were ones that could not be ignored.

The secretariat was mobilized and busy making phone calls, but the income was absurdly low.

“Sir, Bank of Cities has sent us a letter stating that they are refusing to extend your business loan and demanding the return of principal and interest.”

“JPP Morgan, Bank of America, and Goldman Sachs also sent similar letters.”

“The same goes for US Banks, Wells Fargo Company, Morgan Stanley, and Capital Bank.”

All of these banks owned shares in Gulf.

“What’s wrong with these guys all of a sudden? Did they get shot in the head as a group?”

The chief secretary handed over a letter with trembling hands.

“JH Investment convenes an extraordinary general meeting of shareholders to discuss the dismissal of Gulf’s CEO and executives based on the authority of the major shareholder… … .”

bang!

The Gulf president couldn’t stand it any longer and slammed his desk.

“Call the White House!”

The Gulf president pulled down his tie with a grin.

“How ridiculous these people must think the US government is… …!”