Bao Fan: Missing China billionaire banker resigns from all roles
Bao Fan: Missing China billionaire banker resigns from all roles
Bao Fan's disappearance in February last year shocked China's business and investing community.
Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.
He stepped down "for health reasons and to spend more time on his family affairs," the bank said in a statement.
Mr Bao's unexplained disappearance in February last year shocked China's business and investing community.
Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.
In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao's most senior roles.
This is not suspicious at all. Just regular business man doing business man things. Move along citizen.
I'm not even mad about it. Maybe this treatment of billionaires will go global.
So I get the sentiment, but you ever think about the long term consequences of something like this?
For example: one day the billioares are getting taxed 75%, and are audited frequently by the irs...a generation or two and a few bucks to the right political group later and middle-lowrr class now shoulder the tax & audit burden.
We would all be cheering if Bezos & Musk "dissappeared" today, but it would be us disappearing tomorrow.
EDIT: oh no, I didn't mean "don't tax the wealthy" I meant to refer how taxes USED to be more proportional but they used wealth and influence to shift the burden.
Basically I ham fisted the analogy.
I hope he found a small village somewhere, and learned that a simple life caring for those around you is better than amassing tremendous wealth.
After all, it happens frequently
*Permanently