Meetuan CEO Wang Jing had shared parts of the 1,100-year-old Chinese poem on Social Media, which became a problem for him. Know how …
Do you think that posting on social media can make someone so heavy that they have to suffer crores of rupees for this? This is very true. In fact, Chinese billionaire and Meituan CEO Wang Jing saw a decline of $ 2.5 billion (more than Rs 18,365 crore) in total assets. He shared parts of the 1,100-year-old Chinese poem on social media, which became a problem for him.
On May 6, a poem posted on a small social media site by chairman and CEO Wang Jing criticized the dynasty emperor, who burned books to suppress intellectual dissidents. On Chinese social media, many people considered it to be a campaign against the current government.
Original post removed in businessman
Businessman Wang, however, denied this, stating that he was referring to the business rivals through the poem, merely saying that “the most dangerous rivals are often unpredictable”. The original posting has now been removed.
Company shares fall drastically
Shares of Chinese food delivery giant Meituan have led to a sell-off due to this old poem, which some considered as a criticism of the government and President Xi Jinping. Let Meituan recently raised $ 10 billion, but the stock of this Chinese company has lost $ 30 billion in market value in two days amid a wide decline as investors are upset over last month’s regulatory clampdown.
There may be further losses as well
The reason for this is believed to be the resentment of the people and the discomfort of the investors. At the moment, Wang’s post has turned businessmen and many big faces against him, which he may have to bear the brunt of.
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