Officers were sent to the scene and found that a 70-year-old man was lying in the stairwell with his, from this
he had invested in and lost more than 70 million yuan. from this news
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He lost money from commodity trading, according to the news, not from operating the cram school.
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Yea I don’t know… News says the state of decomposition is quite advanced so if there’s any evidence of foul play it would be gone.
70 million is a lot of money though, what was he trading?
You could open a bunch of cram schools for 70 million.
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Its quite sad no one cared/knew for two months that he was dead. And yes 70 million is a lot.
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Yea it’s a lot, and somebody ought to care, like whoever he owes 70 million to. His phone should be full of debt collection calls.
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Difficult to answer when you’re dead.
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Pretty sure debt collectors will follow him around and report when they realized he’s not responsive.
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steer the thread to what’ja do with N$70mn? would most here retire from 9-5 job?
70 million isn’t a quit 9 to 5 job type of money. It’s start a company type of money
you really would start a business with N$70mn?
dude, you put it into 4% treasuries and get 2.8mn a year.
then we wouldn’t have to hear complaints about having no money
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More than enough. Do you even spend one million a year? My family of four doesn’t.
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I barely spend 200k ntd per year, and that’s including rent and shit.
70 million is like 2.5 million us. It’s enough money to build factories in places like china, grease the necessary palms, and you’d make a lot more.
Not 4 percent, but much more.
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Oh, I thought you were saying it isn’t enough to quit your job. But you are saying it is so much that you can do other things?
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You can do a LOT with 70 million NT.
You can quit your job and live without working for the rest of your life, but then what if you live too long? That money isn’t going to last forever and don’t underestimate what inflation will do to it.
So yea, I would just use it to start some company and it’s enough money that you can just about hire the people you need to run it, and you just collect the money. You just need to be a good entrepreneur and know what businesses to start so you don’t throw it away, but at the same time it’s enough to start a smaller company so you aren’t throwing all your eggs in one basket.
It’s enough money that I’d hire an accountant and an investment professional to help me manage that money so that it keeps me from working TOO MUCH, but also ensure it isn’t eaten by inflation or economic pressures, and it also benefits as many people as possible.
With that money I’d do what @QuaSaShao does and start my own “Menlo Park” type of lab and start inventing shit.
It depends on what product you make.
Sure, but it’s a good start, and with that kind of money you could certainly establish a board of directors to raise more.
Point is USE that damned money, not just have it sit in a bank somewhere, where inflation will turn it into nothing. You’ll get better return this way.
Use it to buy TSMC or Apple stocks if you’re that skittish. That will still give better returns than sitting on it (or blowing it on risky commodity trading).
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Most people will move their goalposts if they are lucky enough to reach their numbers…
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People are saying you can get 2.8 millions per year. Let say you spend 1 millions, you can still invest the rest.
Or you can put it on stocks index that also grow with inflation, I don’t know how much dividend will be though.
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I assume he had other business interests, or are cram schools a heck of a lot more profitable than I realized? 
You have to consider inflation. 2.8 million a year is a lot today, will it be in 50 years?
If he was in a position to lose 70 million it means either he makes a lot more, or he has such a good credit he can borrow this much. Not even the mafia will borrow someone this much unless he can demonstrate how he is going to pay it back.
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