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 …
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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 Meituan CEO Wang Xing on May 6, Meituan chairman and CEO Wang criticized the emperor of that dynasty, who had left intellectual dissidents Burned books to suppress. But on Chinese social media, many people considered it as a campaign against the current government and Wang was fiercely opposed.
Original post removed in businessman
Businessman Wang, however, denied this, stating that he was referring to the business rivals through the poem, simply stating that “the most dangerous rivals are often unpredictable”. Now the original posting has been removed.
Company shares fall drastically
Shares of Chinese food delivery giant Meituan have led to a drop in selling 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 Chinese company has lost $ 30 billion in market value in two days amid a wide decline in shares of the company as investors are upset over the regulatory clampdown of the previous month.
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, this post of Wang has turned businessmen and many big faces against him, which he may have to bear the brunt of.
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