The story of a child who refuses to inherit IDR 1,400 T, turns out to be commonplace in this country

Jakarta, CNBC Indonesia – In general, someone will be happy if they receive an inheritance. Because in this way, people can earn some money quickly without the hassle of working like a horse.

Especially if the inheritance is very large. However, Wang Sicong took a different attitude. This man from China actually rejected an inheritance of IDR 1,400 trillion from his father and chose to earn the money himself rather than accept the gift.

So what’s the story?

Wang Sicong is a man born January 3 1988. He is the only child of a Chinese conglomerate, Wang Jianlin, entrepreneur and owner of the well-known property company Dalian Wanda Group.

Forbes noted that Wang Jianlin has assets of US$6.4 billion or Rp. 103 trillion. The size of Wang Jianlin’s wealth and business empire, which if calculated reaches IDR 1,400 T, should be able to make his only child, Wang Sicong, live happily.

Wang Sicong could not work and choose to spend his money all his life. However, he did not take this step.

In 2016, 28-year-old Wang Sicong decided not to continue his father’s entire business empire in the form of shopping centers, hotels, amusement parks and sports clubs. There is no clear reason why Wang Sicong rejected it, it’s just that such a decision has become “the norm” in China.

Yes, in recent years, the second generation of Chinese business families decided not to continue their parents’ business. This can happen because they are comfortable enjoying rapid economic growth and have been exposed to different views and experiences from abroad.

In Wang Sicong’s case, he is a child who studied abroad.

Wang completed his primary schooling in Singapore before being sent to Winchester College. Later, he studied philosophy at University College London. Apart from that, he also grew up in an era of rapid economic growth.

Quoting the South China Morning Post (SCMP), for the father, his son’s decision cannot be blamed. He actually supported the child’s decision.

“Maybe young people have their own goals and priorities,” said Wang Jianlin, quoted on Sunday (19/5/2024).

On this basis, he decided to hand over the management of Dalian Wanda Group to professional managers. Even though he rejected the jumbo inheritance, Wang Sicong chose to focus on building his own business. In short, he distinguished himself as a pioneer, no longer an heir.

Now, he owns a private equity company, namely Prometheus Capital, music company Banana Culture, an e-sports team and streaming channel Panda TV. All of these business lines were successful, making him have assets of trillions of rupiah.

However, Wang Sicong is also controversial. SCMP reports that this controversy cannot be separated from his status as the biggest influencer on Weibo who often shows off his wealth and provides striking comments on the situation occurring in China.

[Gambas:Video CNBC]