Chapter 6 Visiting Wal-Mart
There is a small town called Bentonville in northern Arkansas, USA. It has a population of only 25,000, which is even less than a residential community in Beijing, but its reputation is getting bigger and bigger. "Have you been to Bentonville Town?" More and more businessmen are asking each other this question. Because Walmart's headquarters is located here, it has become a must-visit place for retailers, contractors and salesmen.
Bentonville Town is the home of the Walton family. Walton was founded by Sam Walton's Walton family, and the Walton family currently holds 59% of Walmart, which also makes them the richest family in the United States to date.
In October 1985, Forbes magazine ranked Sam Walton as the top ranking of the richest people in the United States. Sam and Walmart stores became the focus of public attention overnight. A large number of journalists rushed to and from the town of Bentonville. However, when they saw the richest man in America living the simplest life, they were disappointed: Sam was wearing a cheap outfit sold in his own store, driving to and from get off work in a shabby small freight truck, and a hound cage installed behind the car and wearing a discounted baseball cap.
It is such a "landbuster" that created a wealth myth.
In 1918, Sam Walton was born in a small town in OkHome. Sam, who finished his service after World War II, returned to his hometown and rented several houses and opened a small shop with his wife Helen, which specialized in 5-10 cents of goods. Because Sam was kind to others, residents nearby were willing to come to his store to buy things.
In 1950, the Sam and his wife sold the store for twice the investment, moved to Bentonville, Arkansas, and opened a new store there. Although the new store was a franchise store of Ben Franklin chain, the Waltons named it with the family's surname: Walton Family Store. By 1962, they had 15 department stores under their name. That year, Sam and his younger brother James finally opened the first store that belonged entirely to their own in Rogers City, Arkansas - Walmart.
Walmart was a great success from the beginning. By 1964, Walmart had 5 chain stores, and in 1969 it increased to 18 stores. Since then, Walmart has continued to grow, surpassing Kmart and Sears in just a few years. By the end of 1991, Sam Walton had accumulated the largest property in the United States, Walmart's branch network expanded to nearly 100 stores, with an annual turnover of US$32.6 billion.
Sam Walton, the founder of Walmart, is such a legend.
It is no exaggeration to say that Sam Walton is the soul of Walmart. Not only did Sam create Walmart himself, but for nearly 30 years, he has been personally leading its daily business, determining its development direction, and profoundly influenced it with his own style, personality and philosophy, making Walmart not only create the greatest miracle of the American retail industry after World War II, but also become the most unique company among the giant American retail companies.
In the last 50 years of the 20th century, Sam Walton, the one who showed the vigorous vitality of the American Dream most vividly was Sam Walton. After decades of struggle, Sam Walton developed an inconspicuous grocery retail store in Bentonville, a small town in Arkansas, USA, into the world's king of retail and the world's number one company with more than 4,000 chain stores.
However, in 1982, Sam Walton was diagnosed with hairy leukemia, and Walmart had a turnover of more than one billion US dollars; in 1989, Walton was diagnosed with malignant bone marrow cancer, and in 1990 he made plans for Walmart's next 10 years. By 2000, the company's sales would reach $129 billion, thus becoming the world's most powerful retailer, and his goal was achieved. But he passed away in 1992.
Walton often says that money is less important after exceeding a certain limit. What matters is the size of the company.
All this happened in Zeng Lingfeng's memory.
On December 24, 1991, the day before Christmas, Zeng Lingfeng received an invitation from Walmart to visit the Walmart headquarters after Christmas.
Zeng Lingfeng knew the significance of this invitation.
On December 26, 1991, the second day of Christmas, Zeng Lingfeng rushed to the headquarters of Walmart in Bentonville Town.
Soon, Zeng Lingfeng reached a financing agreement with the Walmart board of directors. In the end, Zeng Lingfeng injected US$10 billion into Walmart and owned 35% of Walmart's shares.
This is a happy thing for everyone. Walmart Group has gained strong development momentum due to Zeng Lingfeng's investment, and its future development path is smoother; Zeng Lingfeng's joy is because of Walmart's development potential, because he clearly knows that in more than ten years, this number will rise in geometric numbers, which will bring him hundreds of billions of dollars in wealth.
After the talks, Robson invited Zeng Lingfeng to visit his house.
Although there are several wealthy people in the United States, because the members of the Walton family are all thrifty, the Walton family's manor seems very simple.
Sam Walton looks like an ordinary American old man. If you walk on the street, you will never separate him from other American old men.
However, it was such an ordinary old man who created Walmart, a major company in the United States today.
After everyone gave the meeting, Walton Old said, "Mr. Zeng, thank you for your help to Walmart. I have five children in my life, and Walmart is one of them. When Walmart is at a bottleneck in its development, you can lend a helping hand and inject development momentum into Walmart's development. I would like to express my deep gratitude."
Looking at the old man's sincere expression and listening to the old man's emotional words, Zeng Lingfeng's respect for this old man deepened even more.
Although Zeng Lingfeng knew that Walmart's status must be very high in Old Walton's heart, he never expected that Old Walton would regard it as his fifth child.
In fact, the Walton family can completely ask for financing from other families in the United States, but this has great risks. After all, the Walton family is still a new family. If you are not careful, the Walton Group may be controlled by others. If this is true, the old Walton's lifelong efforts will be in vain. This is something that the Walton family cannot accept.
The emergence of Zeng Lingfeng, an investment tycoon, just met the requirements of the Walton family and was their best target for financing, because Zeng Lingfeng had no ambitions for Walmart Group, which can be seen from his previous series of investments.
Thinking that Old Walton was troubled by illness at this time and was approaching the end of his life, Zeng Lingfeng couldn't help feeling a little unbearable.
Thinking of his innate internal strength, Zeng Lingfeng didn't know if it could play a role. However, Zeng Lingfeng decided to give it a try with respect to the old man in his arms.
Zeng Lingfeng said to Old Walton: "Mr. Walton, I heard that your physical condition is not very good recently. I have a little knowledge of traditional Chinese medicine. I wonder if I can help you see it?"
Old Walton was stunned. Indeed, he had been trapped in blood cancer for many years and had not been able to get rid of it. Although he had tried his best to do so, it was useless. The doctor told him before that his illness had not been cured and his life was only a short time.
He also heard about the magic of traditional Chinese medicine, but he couldn't try it. Now, after hearing what Zeng Lingfeng said, his heart was also active. Perhaps, Western medicine cannot play a role, but traditional Chinese medicine can play a role!
Old Walton agreed readily.
Zeng Lingfeng gave acupuncture to Old Walton, and then used innate true qi to guide the meridians of the body. But in the end, Zeng Lingfeng found that he was powerless to heal blood cancer and could only slightly suppress it to slow down the date of his outbreak.
After the treatment, Zeng Lingfeng expressed regret to Old Walton. Zeng Lingfeng told him that he could not cure his illness, but could only suppress the condition and delay his condition for 5-10 years.
The Walton family expressed sincere gratitude for this. Not long ago, their family doctor told them that Old Walton's life would end within one year. They had given up hope for treatment. But now Zeng Lingfeng told them that he could delay Old Walton's condition for at least five years, so how could they not be ecstatic?
Zeng Lingfeng told them that the current old Walton should rest and not be tired. Only in this way can the health of the old Walton be protected to the maximum extent.
Now the Walton family has deep respect for Zeng Lingfeng. You know, Old Walton is the soul of their family. Although Zeng Lingfeng failed to cure his illness, he won five to ten years of life for Old Walton, which has greatly satisfied them.
Zeng Lingfeng left after staying at Walton's house for about a week.
This trip to Bentonville made Zeng Lingfeng gain a lot. The most valuable thing is that he gained the deep friendship of the Walton family. This is something that is difficult to exchange for anything else.
Back in New York, it was already January 1992.
Zeng Lingfeng was very happy to successfully finalize the financing of Walmart. However, financing of Walmart was not the only thing that made him happy. At this time, another thing that Hanyu Misty Investment Bank began to operate also made Zeng Lingfeng happy, that is the upcoming pound pound blocking battle.
Chapter completed!