America: Starting with the acquisition of MGM...

Chapter 289, Section 287: The World's Richest People Ranking Soars

Hasbro Chairman Alan Hasenfeld suddenly announced his retirement and will soon step down from his position as chairman of the board.

When this news was posted, it immediately caused turmoil in the financial sector, and Hasbro's stock price plummeted.

Sergei vaguely hinted that it was because Allen was sick, but did not elaborate.

Then chaos ensued, and all sorts of rumors began to circulate.

Such confusing news can easily trigger and fuel panic, prompting many retail investors to sell their stocks.

Unsurprisingly, the shares they sold were snapped up by the company's senior management, which can be considered a ready-made bonus from Eric to the board of directors.

Moreover, they also acquired shares of both Hasbro and Mattel at the same time.

Hasbro has encountered a major upheaval, and Mattel is undoubtedly the happiest of all, as its stock price has surged as a competitor.

Making money from both sides by going long on one side and short on the other is a wonderful feeling.

As for retail investors, they will always be taken advantage of by information asymmetry.

There's a saying in the A-share market that retail investors are contributing to the country by investing in stocks. Their original intention wasn't to make money, and they can even feel happy when they lose money.

This situation continued for a week, and just as the market was deteriorating and many people's confidence was severely damaged, Hasbro announced a press conference.

It's the same venue where the Transformers copyright signing event was held before, except that Eric was a guest then, and now he's the host.

Most of the people present today are journalists from the financial sector. As a company with a market value of tens of billions and a top toy giant in the United States, everyone wants to know what exactly happened.

"Mr. Sergey, what exactly happened at Hasbro? Is Allen Hasenfield really retiring due to illness? This is so sudden," a Financial Times reporter asked.

Rumors are flying around, one of which is that Sergei seized power and that his illness was just a lie.

"Ahem. We've also noticed that there's a lot of bad news circulating in the market right now, so we're holding this press conference today to make a formal statement."

"Regarding Hasbro's chairman of the board, who is also my uncle Allen, he has indeed developed a rather serious illness."

"Everyone knows he is over 70 years old. For an elderly person, illness is unavoidable."

"None of us wanted this to happen, but unfortunately, the disease still found him in the end."

"Given Allen's current physical condition, what he needs most is to rest and recuperate, but Hasbro cannot stop; the company must continue to develop."

"So for the good of the company, for the good of Hasbro's tens of thousands of employees, and out of a sense of responsibility to the market, Allen had no choice but to reluctantly step down as chairman."

"So who will be the new chairman of the board?" a Wall Street Journal reporter asked hastily.

"Yes, that's one of the purposes of today's press conference. We are fortunate to have found a new leader who is capable, responsible, and visionary."

"He has been personally screened and evaluated by Allen and has gained the unanimous approval of the board of directors. He is an extremely outstanding young man."

"Let's welcome the new leader of the Hasbro Group!"

clap clap clap...

Everyone present at the press conference stood up and applauded as Eric walked out from backstage.

He was dressed in a suit and leather shoes today, and he even had some simple makeup on.

His already handsome looks were further highlighted, and he strode confidently to the center of the stage in front of hundreds of media outlets.

wow...

When they saw that it was Eric Cooper who walked out, all the reporters present stared wide-eyed, looking bewildered and incredulous, and many couldn't help but exclaim in surprise.

What's going on?

Why Eric Cooper? Or rather, how could it possibly be him? What does he have to do with Hasbro?

Perhaps so, after all, it was he who facilitated MGM's acquisition of the Transformers copyright.

Moreover, the movie was a great success, which boosted toy sales, so it's easy to imagine that the two sides are currently in a honeymoon period.

That's all there is to it. For Hasbro, he can be considered a good partner, but he can hardly be considered a successor.

One imaginative reporter had a sudden thought: "Could it be that Eric Cooper is actually Alan's illegitimate son?"

Seeing the bewildered reporters below, Eric sat down and turned on the microphone.

"I know that people are bound to be a little surprised to see me here, which is perfectly normal."

"But this was not a random idea. In fact, I have developed a deep friendship with Allen since MGM began contacting Hasbro more than a year ago."

"And Sergei, Pedro, Gingi, Raul, we've always been good friends, and we often meet up in private."

The others nodded in agreement.

"I am very optimistic about Hasbro's development, so I have also purchased some company stock. The specific amount will be announced later. In short, I meet the requirements for joining the board of directors."

"For several months now, everyone has been hoping to bring me on board as a new director of Hasbro, but as you all know, things happened afterward, so it was delayed."

"Unexpectedly, not long ago, Allen was suddenly diagnosed with a serious health problem."

"Oh my god! This is such a sad thing." Eric looked like he was about to cry.

"After learning about this, I flew over overnight to visit him. His condition was not good. Just thinking about the scene is heartbreaking. He is such a good person and should not have to suffer like this."

Eric's eloquent and moving narration once again showcased his acting skills, which were no less impressive than his portrayal of the five women. It was so moving that it brought tears to the eyes of all who heard and saw it.

Some of the less experienced reporters present were moved by his presence and began to imagine the deep friendship between the two people who were of different ages.

As for those seasoned veterans who have seen all the scheming and deceit, they are naturally not so easily fooled.

On either side of him, several board members twitched at the corners of their mouths, feeling nauseous and about to vomit.

Have some shame! Have you forgotten what happened that day? What does the truth have to do with what you're saying? Don't be like Eric Cooper!

At this point, Sergei took over the conversation: "Eric, calm down, I'll take care of the rest."

Eric nodded, continuing to wallow in his grief.

"Alas! Due to his health condition, Allen believes he is no longer able to fulfill his duties as chairman. We held an internal meeting to discuss this matter."

"According to the original plan, if Eric hadn't been framed, he would already be a director of Hasbro."

"Although the procedures haven't been followed yet, Allen still wants to choose between me and Eric."

"After careful consideration by the board, we have decided that Eric will temporarily assume the chairmanship. I personally approve of this outcome and express my firm support for it."

"Just like Allen said, he is too outstanding and has a lot of resources at his disposal, which can effectively complement Hasbro."

"We believe that under Eric's leadership, Hasbro's future is bright, and it will surely reach an even more glorious tomorrow!"

As soon as Sergei finished speaking, several directors immediately applauded.

The media reporters also realized that this wasn't the power grab that had been widely rumored; it was simply a deathbed entrustment.

Moreover, it seems that the power transition was very smooth, without any dramatic or chaotic confrontations, which is good news for boosting market confidence.

Wiping away his tears, Eric exclaimed, "Alan Hasenfield, he was a great man, a very respectable man."

"Under his leadership, Hasbro has maintained steady growth for decades, and even at this critical moment, he is still thinking about the company."

"Let's pay tribute to Allen!"

"Respect to Allen!"

The performance was so grand and dignified that it resembled the abdication ceremony in ancient China; in short, the acting was very convincing.

Eric then took the opportunity to describe Hasbro's future development strategy.

When people heard that MGM would grant Hasbro the rights to its various intellectual property rights, they understood why Allen chose him.

The Walking Dead, The Pink Panther, Peppa Pig, Frozen...

Each of them is a money-making machine, and they fit Hasbro's product positioning perfectly. The cooperation between the two parties is definitely beneficial in every way.

Before the press conference was even over, changes had already begun in the financial markets. Hasbro's stock price, after several days of continuous decline, suddenly surged as if given a shot of adrenaline.

Almost instantly, the stock price rebounded to its original level and has been rising steadily ever since.

At the same time, the stock prices of MGM and Marvel also saw a surge.

Faced with such a major event, even television stations like WB and ABC, which are at odds with Eric, paid attention and broadcast the story.

The pros and cons were analyzed, with both praise and criticism; ultimately, investors should make their own judgments.

Compared to the financial market, what most netizens were most concerned about after hearing the news was Eric's net worth.

"Eric Cooper has so much energy. He controls MGM, Facebook, YouTube, Lionheart, DoubleStar Entertainment, Fine Arts Records, and Marvel Studios, and now he's got his hands on Hasbro. Can he manage it all?"

"Heh. This question is too amateurish. Eric Cooper doesn't have to do everything himself. Judging from his style of doing things, cultivating proxies is still his most common method. Sergei Hasenfield is obviously his new proxies."

"Film, music, social networks, video websites, comic book groups, toy companies—it's a huge network, a tightly interconnected network. Eric Cooper is linking all these things together; it's terrifying."

"It is rumored that Eric Cooper holds no less than 10% of Hasbro's shares, making him the second-largest shareholder, and his wealth has taken another leap forward."

"Good heavens! Does anyone know how much Eric Cooper's net worth is? Forbes, please update it quickly, I really want to see how many places he can move up."

"Heh. Forbes is just watching the show. Who would take that stuff seriously? Everyone on the list has hidden wealth. Forbes can only count the wealth that is allowed to be publicly disclosed."

While the issue was being discussed online, Hasbro held a shareholders' meeting, which definitively confirmed Eric's identity.

His shareholding percentage was also disclosed, at 17%, tying for first place with Allen Hasenfield, and this figure will soon rise to 21%, making him the largest shareholder.

Forbes, perhaps intentionally joining in the fun, also released its June global rich list.

They adopted a 17% figure, giving Hasbro a valuation of $19.55 billion based on its current stock price.

In addition, there's Marvel Studios' $18.37 billion fortune and MGM's $88.91 billion valuation.

The combined wealth of just the three largest listed companies reached $126.83 billion.

These figures are verifiable and calculable. Companies like Facebook, YouTube, Lionheart, Double Star Entertainment, and Mei Yi Records are not publicly listed, so their wealth is difficult to estimate and therefore not included in these figures.

Even with a fortune of $126.83 billion, he was still enough to break into the top of the list, soaring to 11th place like a rocket.

It's worth noting that when MGM relisted earlier this year, he was only ranked 51st, behind Amazon's Bezos with $53 billion.

And now?

Even though Bezos's wealth is growing rapidly, and even though Bezos also has a lot of hidden wealth such as private equity funds and wealth management funds.

But even if you're invisible, you can't possibly hide five or six billion dollars.

They've long been left far behind!

When the rankings were released, the focus of discussion shifted to what the valuations of established companies like Facebook and DoubleStar Entertainment would be after their IPOs.

Facebook, in particular, has grown so rapidly that it conquered the entire United States in just one year and began to expand into overseas markets.

Countless businessmen are waiting for it to launch its Google services, and countless shareholders and institutions are waiting for it to go public.

Just like last time, Eric was receiving countless congratulatory calls while simultaneously dealing with the five women's insatiable demands, who seemed to have become even more fervent.

Indeed, money is a man's courage and a woman's aphrodisiac.

Half a month passed quickly amidst all this busyness, and Hasbro's situation stabilized.

Allen Hasenfield eventually resigned himself to his fate and chose to return to his hometown in Canada to recuperate. It remains to be seen what will happen to the shares he holds.

The dominance of "Frozen" was successfully halted by "Troy," which lost its box office crown in its fourth week.

However, what the other six didn't expect was that "Troy" only held the lead for a week, and was overtaken by "Frozen" in the second week.

It belongs to the type that has a strong momentum, but unfortunately lacks staying power.

In its fifth week, Frozen officially surpassed the $1 billion mark at the global box office, becoming the sixth film worldwide to achieve this milestone.

Queen Elsa's march forward has not stopped.

(End of this chapter)