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CH325 | Heir
🕑 Added 2025-09-28 13:09:18 +0000 UTCA week had passed since the Apple Car launch.
Yet, rather than declining, sales were showing the unusual trend of continuing to rise.
The planning director, who had come to report, couldn’t hide the smile on his face.
“Apple Car sales have finally surpassed 100,000 units.”
“You said it would take about two weeks, but we’ve reached 100,000 in just one week.”
“Sales kept climbing, which shortened the expected period. The response in the Chinese market is far hotter than anticipated. It seems we underestimated the number of potential customers who could afford an Apple Car.”
The Chinese market was fascinating.
Even though per capita GDP was only about one-tenth of Korea’s, the number of customers able to purchase high-end products was always larger than expected.
“Are we facing any shortages in supply?”
“Thanks to your directive to produce as many units as possible at the Chinese factory, supply isn’t significantly lacking. And the newly contracted Chinese factory will soon begin Apple Car production as well, so there’s no major issue.”
Even if Apple Car supply fell short, it wasn’t a major concern.
Tesla was ready to fill in any gaps.
“I hear Tesla is also doing well in the Chinese market.”
“When Apple Car inventory ran low, many customers shifted to Tesla stores.”
“Do not release Tesla units until their stock starts to run low. Keep inventory ready, and release it only once Tesla stock is completely sold.”
This was a moment that required pacing.
If we raced ahead alone, we wouldn’t last long. By slightly slowing down, we ensured our running mate could keep up.
Of course, there was another motive.
This was also to gain a slightly advantageous position in the battle against the short sellers.
“Once the report is done, please call Han, the CEO.”
“He’s waiting outside.”
Next up was CEO Han. Passing the baton from the planning director, he entered with a smile on his face as well.
“George, the head of Quantum Fund, appeared in the media again today and gave another interview criticizing the short-selling forces. Every time he does an interview, Tesla’s stock price jumps sharply.”
“This is exactly why I like George. People who can do good deeds on their own without being asked are rare.”
“The media is in an absolute frenzy. The narrative is perfect: the evil savior backed by the Saudi sovereign wealth fund versus the King of Short Sellers allied with hedge funds. Articles are flooding in with this storyline.”
It was a story the press loved to cover.
Two famous Wall Street figures facing off naturally drew attention.
And the more attention there was, the more Tesla sales increased.
“It must be slightly frustrating for the Saudi sovereign wealth fund. They could have monopolized the spotlight, but now George has stepped in and shares it.”
“After checking with the sovereign wealth fund, it seems they’re fine with it. They appear to think that just by aligning with Quantum Fund, their own reputation rises. And they haven’t lost their position as the main protagonist in this short-selling battle.”
The Saudi sovereign wealth fund was still aggressively buying Tesla stock.
Meanwhile, the short-sellers were hesitating, facing cash flow issues.
“Now that Quantum Fund has joined the Saudi sovereign wealth fund, it’s probably time for the short sellers to wave the white flag.”
“They’re unlikely to surrender just yet. It seems they’re waiting for the right moment to exit, minimizing their losses.”
Short-selling was all about time—and money.
Hedge funds had to borrow shares to sell in the market.
Interest costs accrued every month, and to close out the short position, they had to repurchase the shares and return them somehow.
“They’re being greedy if they expect to escape without a drop of blood. If they pull out now they might get away with only a small loss, but if they keep waiting they’ll lose everything.”
“They’ll probably try one desperate move. They might resort to illegal methods to reduce their damage.”
“Withdrawing now is the surest way to minimize losses. Tsk tsk.”
The chances of the short-sellers winning were slim.
Unless a Tesla vehicle suddenly exploded or a factory caught fire, defeat was all but certain.
“Just in case, double the security at Tesla’s factories.”
“I’ll inform Captain Kang. We’ll also install more CCTVs to eliminate any blind spots.”
The short-sellers were a nuisance, but not a major problem. We had already succeeded in pioneering the EV market.
This year Taewoo, Kia Motors, and Tesla were all releasing electric cars, and from next year GM would join the market as well.
While other automakers fretted, we would be ready to take the entire slice of the EV market.
***
A few days later.
While I was enjoying a beer in Captain Kang’s office with President Han, I received a call from David.
“What’s up at this hour?”
[We’ve received contact from the short-selling forces. It looks like they want to end the short positions.]
“Then they should just end them. Why are they calling us?”
[Isn’t it to ask for help? If they close their shorts at the current price, their losses will be at least $10 billion.]
“They beat the drum full force and now that it’s their turn to take the blow, they’re asking for help.”
The short-sellers had used every method available—media play, financial reports—anything to push down Tesla’s value. Yet Tesla’s stock kept rising, and they were losing billions every day; that’s why they even reached out to me for help.
[The contact didn’t come from Chanos leading the short attack, but from other hedge fund leaders.]
“So they’re trying to stab Chanos in the back.”
[Isn’t betrayal for profit commonplace on Wall Street?]
“I can help, but this sort of thing is better handled by the Saudi sovereign wealth fund than by me.”
[You intend to hand the ball completely to the Saudi sovereign wealth fund?]
My ties with the sovereign fund weren’t limited to this one incident. So giving them the honor of resolving this—if it helped sustain a good relationship—was no hardship.
“Connect the short sellers who want to cut losses with the Saudi sovereign wealth fund.”
[Won’t the Saudi sovereign wealth fund refuse?]
“I’ll let them know in advance. And the sovereign fund has no reason to refuse. It’s an opportunity to end the war with the short-sellers, and there’s no benefit to letting the fight drag on.”
[Then I’ll talk to the short-sellers again and get back to you.]
President Han, who had been listening to my conversation with David, took a cold beer from the fridge and handed it to me.
“Congratulations. The war with the short-sellers will soon be over.”
“It’s too early for congratulations. And given the nature of electric car companies, short-sellers will periodically come after us.”
“Still, we won a major victory in the first battle. Won’t that make them hesitant for a while?”
“That’s exactly why we involved the Saudi sovereign wealth fund in this matter.”
“I’ll contact the Saudi sovereign wealth fund. They won’t refuse the final move to crush the king of short-sellers.”
President Han immediately reached out to the Saudi sovereign wealth fund. He explained the short-sellers’ situation in detail, and as expected, the fund accepted the proposal.
“The Saudi sovereign wealth fund says they’ll meet with the short-sellers tomorrow to negotiate.”
“Tomorrow, the king of short-sellers will be isolated.”
“Tesla’s recognition will rise even further as the company that dealt the king of short-sellers a defeat.”
The true winner of this fight was Tesla.
The Saudi sovereign wealth fund joined the battle for prestige, but Tesla gained both recognition and tangible benefits—and as the largest shareholder, I was the real winner.
“If the news comes out tomorrow that some of the short-sellers have betrayed Chanos, this short-selling war will be over.”
“I’m already looking forward to tomorrow.”
We toasted with our beer cans, quietly celebrating.
After taking a sip, Captain Kang suddenly rushed into the office.
“Chairman, I received some strange news through the prosecutor’s line.”
“From the prosecutor’s line? A raid or something? None of our subsidiaries should have any issues.”
“It’s not about a Taewoo Group subsidiary. It’s about the e-sports side. There’s a match suspected of manipulation in the Starc tournament, which Taewoo Electronics officially sponsors.”
Match-fixing.
It was something that had happened at least once in nearly every professional sports scene. As long as people bet on game outcomes, it would never disappear.
I had no righteous urge to root out match-fixing. I was simply angry at the people who tried to ruin an event I had poured my heart into.
“Is there any player on the Taewoo Electronics team involved in match-fixing?”
“We’ll need to investigate further, but to my knowledge, there aren’t any.”
“You said our contacts in the prosecutor’s office would handle this investigation, right?”
“That’s why we were able to obtain initial information so quickly.”
“It’s time to give the prosecutor line some real backing. Captain Kang, take the lead on the investigation.”
Captain Kang could do what couldn’t be done in the open.
In speed and accuracy, he was a step above the prosecution—not because I underestimated the prosecutors, but because Captain Kang had the authority to freely utilize Taewoo Group’s owned SNS platforms and portal sites.
“Most match-fixing proposals are exchanged through SNS messages.”
“Tell the IT team to route every message containing match-fixing keywords so Captain Kang can see them.”
“If you do that, we can secure solid evidence within this week.”
“Start immediately.”
Maybe because he’d been itching to get in the field, Captain Kang dashed out with a bright look on his face.
By contrast, President Han’s face was dark as night.
“Are you planning to cover up the match-fixing?”
“The more you try to hide something like this, the worse the backlash. We’ll make sure everyone involved in the match-fixing faces legal consequences.”
“If that happens, the E-sports scene will shrink significantly. Especially in the case of the Starc game, where Taewoo Electronics is the main sponsor, the tournament itself could collapse.”
Once a game is tainted by match-fixing, it loses its value as an E-sport. Even a minor mistake by a player could trigger suspicions, and a lower-ranked player winning by chance would almost certainly be questioned as part of a rigged match.
“Even if the E-sports scene takes a hit, the game itself won’t die. Why do you think it’s called a national game? And Starc 2 will be released soon, so it’s also the right timing to move on.”
“Then are you planning to end the main Starc sponsorship?”
“Broadcast-run tournaments will probably end this year or next. We’ll shift to sponsoring individual streams or small-scale competitions instead.”
The national game Starc was stepping down from its throne.
Taewoo Communications had secured its industry-leading position thanks to Starc, so it was a game they were deeply attached to.
But times had changed, and it was time to step aside. With the next-generation games already firmly in Taewoo Group’s grasp, the sadness wasn’t too heavy.
“I used to watch those tournaments whenever I had time. It’s really a shame.”
“What’s done is done. More importantly, I’m looking forward to tomorrow. I wonder how the short-changed ‘King of Shorts’ will react after being betrayed by his allies.”
