Chapter 351 A net worth of US$120 billion

Abel's first contact with the California consortium can be said to have gone smoothly.

After all, he is no longer the rich man who only had some money last year.

As his relationship with the Bush family and other allies was established.

He can now be regarded as a prince in this country.

He is already qualified to have contact with entities like the California Consortium.

But it's just an initial contact.

Whether it is Abel or Kayla Wilson, both parties understand that it is impossible to mention real cooperation right away.

Even if both parties have this idea in mind.

This is a matter of possible cooperation between two huge interest groups.

No matter how careful or cautious you are, you can never be too cautious.

But fortunately, through this contact.

At least it can let both parties know that there is no hostility towards each other and there is no conflict at the moment.

That's enough.

Even in terms of finance, the California consortium has many places where it can cooperate with Abel.

Abel is better at investing, or speculating.

The financial strength of the California Consortium is retail banks and commercial banks, and the two sides are very complementary.

After a little chat with Kayla Wilson.

Abel chatted more deeply with John Stumpf, executive chairman of Wells Fargo.

While chatting, Abel talked about possible cooperation projects between Wells Fargo and Pacific Bank.

The consortium and the consortium cannot start cooperation immediately.

But you can try to make some contacts in business.

If the contact is good, we may actually cooperate in the future.

Then when it unfolds, it will be smoother and more experienced.

"Silicon Valley Bank? I remember that most of its shares were acquired by Pacific Bank of Commerce, right?"

John Stumpf spoke softly.

Abel nodded:

"That's true. Silicon Valley Bank was acquired by me last year. But until now, it is still an independent bank and has not yet been merged into Pacific Bank."

John Stumpf nodded, quickly calculating the gains and losses in his mind.

Silicon Valley Bank was established in 1983 and is a subsidiary of Silicon Valley Bank Financial Group.

95% of the assets of this banking group are in Silicon Valley Bank, and other businesses are not worth mentioning.

Its total assets reach US$2 billion, making it a small bank in the United States.

This bank's business mainly provides loans to venture capital companies and Silicon Valley startups.

Early Cisco, Oracle, and even Google all received loans from Silicon Valley Bank.

Since it is related to Silicon Valley, it naturally suffered heavy losses when the Nasdaq bubble burst last year.

At that time, the entire Silicon Valley Bank Financial Group originally had total assets of more than US$5 billion.

After the bubble burst, its value was cut in half, leaving only around 2 billion in assets.

At the end of last year, its shares were gradually acquired by Abel, and the economic situation became much better.

Some of the Internet company stocks that Abel purchased during September 11 this year were also held by this bank on behalf of them.

This is mainly done to avoid taxes——

Super big taxpayers and super philanthropists do not avoid taxes at all.

"So what do you mean?"

John Stumpf knew something about Silicon Valley Bank, but he didn't know Abel's intentions.

"I mean, we can try to test the waters of cooperation first." Abel said with a smile:

"Let's use Silicon Valley Bank as an experiment. How about cooperation between the two parties on Silicon Valley Bank?"

John Stumpf looked at Kayla Wilson, who nodded slightly to him.

John Stumpf looked at Abel again, smiled and said: "So what kind of cooperation model is it?"

"Wells Fargo paid US$1 billion to acquire 49.9% of Silicon Valley Bank's shares. Both parties jointly operate Silicon Valley Bank," Abel said.

In the process of acquiring Silicon Valley Bank Financial Group, Abel spent a total of approximately US$2 billion.

Subsequently, another 200 million US dollars were invested in development. Since Silicon Valley is in a miserable state now, its performance is also mediocre.

Its current total value is approximately US$2.2 billion.

Wells Fargo acquired 49.9% of the shares for US$1 billion.

It can be said that even before starting any business, he has already made at least tens of millions of dollars.

The premise is that Silicon Valley Bank can make profits in the future instead of continuing to lose money.

This is Abel's sincerity and the bait he throws out to seduce Wells Fargo and the California consortium.

"How about 50%? Wells Fargo offers $1.1 billion."

After thinking about it, John Stumpf showed his sincerity.

Wells Fargo doesn't make those tens of millions of dollars.

But we demand equal rights and interests, and we must work together in Silicon Valley to build Silicon Valley Bank.

Abel wanted to get in touch with the California consortium, so why didn’t the California consortium not want to get in touch with him?

If you don't want to have contact with Abel, John Stumpf will be here today.

But Keira Wilson will never show up.

"It's a pleasure to cooperate." Abel smiled and extended his hand.

John Stumpf and Kayla Wilson also smiled and shook hands with him.

Abel's main purpose today was finally accomplished.

Pacific Bank and Wells Fargo collaborate on Silicon Valley Bank.

In later generations, it was also considered to be the first cooperation between the Smith Consortium and the California Consortium.

The matter was almost over, and Abel declined Keira and Stumpf's invitation to a cocktail party tonight.

On top of the Wells Fargo building, he was bid farewell by John Stumpf and Kayla Wilson.

Wait until Abel's plane leaves the Wells Fargo Tower.

The smiles on the faces of the two California syndicate members faded.

John Stumpf said to Kayla:

"He is as generous as ever. He took out tens of millions of dollars without blinking an eye."

His annual salary is only around tens of millions of dollars a year.

The beautiful girl Kayla nodded and said to John Stumpf:

"John, what do you think he means? Does he want to cooperate with us?"

"Of course." John Stumpf replied directly:

"I heard that his father-in-law, Neil Bush, has been in San Francisco for a while. During this time, the third son of the Bush family has been in contact with the AFL-CIO group. It is obvious that Mr. Smith

, there are considerations in this regard. He may need our support in this regard."

Keira nodded thoughtfully.

"Miss Wilson, what do you think of Mr. Smith?"

The two of them continued talking as they walked downstairs.

How about Abe Smith?

Keira thinks that first of all, he is very handsome. He is tall and sunny, which is in line with the appearance of the sun god Apollo in European and American minds.

Then the way he speaks is not annoying, and his voice sounds nice.

Secondly, the way we do things is very refreshing and very generous.

Sharp thinking, decisive and straightforward.

No matter how much more it is, with Keira's experience and ability, she can't see it.
To be continued...