Friday night, at the Peninsula Hotel.
Hutchison Whampoa hosted a grand celebration party here, inviting business partners and Hong Kong government officials who frequently dealt with the company.
Lin BaoCheng also extended invitations to some acquaintances, though many were people he had only met a few times, so he wasn't sure they would attend.
As host, Lin arrived early, greeting guests alongside Wei Li and other Hutchison executives. Many of the business leaders and officials were introduced to Lin through Wei Li.
Despite his fortune now reaching several billion Hong Kong dollars, Lin's personal network was still limited. But wealth attracts connections — with repeated meetings, relationships would form.
Of course, Lin didn't personally greet everyone. Those of lesser status were received by executives like Xia BoYin.
"Mr. Ho, welcome," Lin greeted another familiar face.
Ho YaoHua shook his hand and smiled: "Mr. Lin, congratulations on becoming Hong Kong's new richest man."
"Mr. Ho, you're teasing me," Lin replied with a wry smile. Yesterday Hutchison's stock had broken HK$30. This morning, newspapers exaggerated, claiming Lin's wealth had surpassed Bao YuGang, making him Hong Kong's new tycoon.
"In truth, Hutchison's price is clearly inflated by speculation. Even at today's close of HK$33.6, my total wealth is under HK$10 billion. At the start of the year, Bao's fortune was reported at HK$7 billion, but that was because Worldwide Shipping wasn't listed. If it were, Bao's wealth would easily exceed HK$10 billion, even HK$20 billion."
"Unfortunately, Bao refuses to list Worldwide Shipping. Otherwise his fortune would be unimaginable. But this isn't the best time anyway. Since the oil crisis, shipping has declined," Ho noted. Listing now would mean low valuations and poor returns.
Lin laughed: "'Richest man' is just a title. If taken seriously, it's laughable."
"You see clearly," Ho said, surprised. He had expected Lin, still so young, to be blinded by vanity after being hailed as Hong Kong's richest. But Lin was unaffected.
"This is simply reality," Lin shrugged. He knew he would eventually become Hong Kong's richest man, inevitably. Once his wealth reached a certain level, it couldn't be hidden. The title would fall to him sooner or later.
Ho glanced around, then whispered: "Mr. Lin, your long gold futures at Standard Chartered are already down over 10%. If gold falls further, at 20% loss your USD 100 million principal will be liquidated."
"I understand, Mr. Ho. Don't worry, I have it under control," Lin smiled. Gold had already fallen below USD 170/oz, now at USD 167. His long positions at Standard Chartered and Mitsubishi were at USD 189/oz — nearly 12% down.
But Lin wasn't panicking. He remained bullish. His strategy was to buy more as prices fell, not to cut losses or reverse. Unless gold broke USD 160, his principal was safe. If it did, he was prepared to add margin.
Fortunately, he hadn't used 10x leverage. With 5x, he could withstand corrections.
Now, not only was he holding his longs, but he was gradually adding new positions with realized profits. At current prices, he wasn't worried about liquidation.
"As long as you have a plan," Ho nodded, saying no more.
Lin chatted with Ho briefly, then moved on to greet other distinguished guests with Wei Li.
Soon, Iwasaki FengLong arrived, and Lin spoke with him until Bao YuGang entered.
"Mr. Bao!" Lin greeted, shaking his hand.
Bao smiled: "Mr. Lin… no, I should call you 'Mr. Tycoon' now."
"You're teasing me," Lin laughed helplessly. "But since you've called me that, I must work harder to truly surpass you. Otherwise, your 'Mr. Tycoon' title is wasted."
"You're so young and already accomplished. I believe you'll achieve it soon," Bao said seriously. He no longer underestimated the young man before him, not yet twenty.
Bao and a few others already knew the truth: Li JiaCheng and Feng JinXi had allied with Bob and Jardine's Niu BiJian to short Hutchison. Lin, together with Iwasaki FengLong, had gone long — profiting massively, leaving the shorts devastated.
Especially the Qi family, Jardine, and Bob, who had sold their shares at rock‑bottom prices. Compared to Hutchison's current HK$30+, the gap was enormous.
Lin's explanation of secrecy for investment safety was reasonable. But the fact remained: he had partnered to go long and earned huge profits. Who could deny it?
So young, yet so capable — it commanded respect.
"Thank you, Mr. Bao, for your kind words," Lin smiled. He wasn't boasting, but confident. He believed his wealth would surpass Bao's within a few years.
After chatting with Bao, Lin moved on when Shen Zhou arrived.