Chapter 471: Spending Money Like Water

On February 20, 2009, Charles Capet officially acquired 25% of the shares of West Pacific Union Bank for $5 billion in cash!

He became the largest shareholder and chairman of the board of West Pacific Union Bank. On the day of the acquisition, the bank's stock price rose by 20%, jumping from $15 per share to $18 per share.

Charles's entrance not only provided the bank with support from Hollywood but also got involved in the financing project of the high-speed rail from Los Angeles to San Francisco!

Meanwhile, Dona Williams spent twenty days acquiring bank stocks:

She bought 6 million shares of Goldman Sachs at an average price of $85 per share, spending $510 million;

6 million shares of JPMorgan Chase at an average price of $25 per share, spending $150 million;

5 million shares of Citibank at an average price of $30 per share, spending $150 million;

10 million shares of Wells Fargo at an average price of $14 per share, spending $140 million;

200 million shares of Bank of America at an average price of $13 per share, accounting for 5% of the total shares, spending $2.6 billion in total!

In just one month, Charles spent $3.55 billion on bank stocks. Including the $2.2 billion spent on Tencent shares and the exchange of $4.2 billion for euros and pounds;

Out of the $11 billion in cash, only $2.1 billion remained!

That afternoon, at Charles's office in Burbank.

Evelyn Capet looked astonished, "Buying bank stocks at the bottom, aren't you worried? Even Buffett isn't this straightforward right now!"

Charles shook his head, "Don't worry, I estimate that in about six months, we can earn double the profit. Although the stock prices might still drop recently, economic recovery is unstoppable. Just look at how much international capital has flowed into the U.S. after the strong dollar!"

"Forbes estimates your net worth at around $20 billion; you'll be in the top ten of the Forbes Billionaires List this year!" Evelyn reminded, noting Charles's rapid rise, faster than a movie script.

Charles shrugged, "That's because of last year's financial crisis, which reduced the wealth of many tycoons, so it doesn't mean much. Can those guys at Forbes really know my actual assets? They don't even know the value of my stocks, let alone cash flow. I've already warned them not to estimate over $15 billion!"

Evelyn nodded. In March, Forbes would release the Billionaires List.

Evelyn's own assets, excluding shares, had already reached $200 million, earned by following Charles's investments in real estate shorts and forex trading!

Moreover, Dona Williams was currently acquiring shares of Lululemon and Starbucks, and Evelyn had also invested a sum, continuing to buy stocks in tech companies that Charles had earlier advised.

Charles glanced at his mother, poured her a glass of champagne, and smiled, "To me, money is just a string of numbers now. The real issue is how to store and pass it on."

Evelyn glared at her son, somewhat exasperated, "You're 27 now, and you're not thinking about getting married?"

"No rush, I'll wait another seven or eight years," Charles shook his head, thinking it was too soon to get married.

"By the way, 20th Century Fox is developing a live-action adaptation of Dragon Ball Evolution. The film will be released next month, on the same day as your District 9! 

And it seems there are some issues with The Green Hornet of Sony Columbia. The movie is still in the script stage, but there seem to be disagreements with the lead actor, Seth Rogen! Are you interested?" Evelyn smiled at Charles.

Charles shook his head, "Not unless you replace Seth Rogen. I won't participate if a movie led by the Frat Pack is a big-budget production;"

"If it's a large production, the main cast can't be from the Frat Pack. Their gross-out comedies have a limited overseas market. In recent years, Frat Pack comedies like Wedding Crashers, Knocked Up, The 40-Year-Old Virgin, Dinner for Schmucks, and Superbad have been successful in the North American market!"

After Judd Apatow directed Knocked Up for Capet, he signed a three-film directing deal with Capet.

Last year, Judd Apatow had a comedy movie Funny People he wanted to direct, but the budget was $75 million, so Capet passed on it. Universal Pictures picked it up instead!

However, the three-film directing deal with Judd Apatow was valid for five years. Within five years, Capet had the first right of refusal for any film Apatow directed. The contract would end in 2012, no matter if Judd Apatow had directed all three films for Capet or not.

*****

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