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CH56 | Heir
🕑 Added 2025-03-27 01:59:05 +0000 UTCAfter a long flight, I finally arrived in the United States.
I wanted nothing more than to rest at SAVE Investment, a place that felt like home.
But I couldn’t.
A guest had already arrived and was waiting for me.
"DImon’s here early? There’s still a lot of time before our meeting."
"His face is completely swollen. He looks furious—like he just got into a fight."
"I don’t even need to ask what happened."
After a quick stop in the bathroom to wipe the sleep from my eyes, I stepped into the lounge.
The moment Dimon saw me, he clenched his teeth and swallowed back tears.
"What happened? Don’t tell me… Sandy Wiell hit you?"
Dimon let out a bitter laugh.
"You were right, sir. He always planned to hand the company over to his daughter. I was nothing more than a servant to him. And when a mere servant dared to desire what belonged to his master, he struck me for it."
How much had he suffered?
Dimon was nearly twice my age, yet his voice trembled with emotion.
"Have you made up your mind?"
Dimon exhaled deeply.
"I refuse to work under that bastard any longer. Is your previous offer still on the table?"
"The offer to help you become the CEO of a financial empire even bigger than Sandy Wiell’s? Of course, it still stands."
Dimon hesitated.
"But… is that really possible? I know SAVE Investment has been making incredible returns over the years, but it’s still smaller than Sandy Wiell’s fund."
To win over a man like Dimon, I needed to show him something beyond his expectations.
So I did.
I gave him a glimpse into the future—one I already knew.
"Sandy Wiell will likely merge his fund with a bank to build a financial empire. The most probable target? CT Bank."
Dimon’s eyes widened.
"How do you know that? He’s already in talks with CT Bank! The merger is still in its early stages, but in a few years, it’ll go through."
I smirked.
"Our company has better intelligence than any firm on Wall Street. Predicting his moves is easy."
Dimon frowned.
"Even if you can anticipate Sandy Wiell’s plans, building a financial empire bigger than his is a different story."
Looks like a small taste isn’t enough for him.
Time to give him a full meal.
"It’s true that if Sandy Wiell merges with CT Bank, they’ll form the largest financial institution in the U.S. But will it last forever?"
I leaned in slightly.
"An empire without you, Dimon, is nothing more than a castle built on sand. If Sandy Wiell creates his empire with CT Bank, then I’ll help you merge with JPMorgan—and build an empire even greater than his."
Dimon’s breath hitched.
"A merger with JPMorgan…? Is that even possible?"
"It’ll take time. Exactly 10 years. But by then, you’ll be leading the most powerful financial empire on Wall Street."
DImon studied me carefully.
"So you want me to work under you for the next 10 years. But if you fail to deliver on this promise… how will you compensate me?"
I didn’t hesitate.
"Would 1 billion dollars be enough?"
I crossed my arms.
"Let’s draw up a contract right now."
Even at today’s exchange rates, 1 billion dollars was close to 1 trillion won.
Even the most successful bankers on Wall Street rarely made that kind of money in a lifetime.
It was more than enough to compensate for 10 years of waiting.
Dimon let out a low chuckle.
"1 billion dollars… That’s a price worth taking a gamble on. Let’s draft the contract."
I nodded.
"I’ll call in the lawyers immediately."
Just as I reached for my phone, Dimon raised an eyebrow.
"One more thing—what exactly will I be doing for the next 10 years?"
"You’ll be working in your field of expertise, Dimon. Over the next few years, you’ll be handling mergers and acquisitions as if they were your daily meals. Oh, and we’ll also be executing hostile takeovers."
DImon smirked.
"Hostile takeovers are my specialty."
I felt like I had just gained a formidable ally.
To dismantle and sell off the unnecessary subsidiaries of Taewoo Group, I needed an M&A expert.
And now, I had secured the best in the world.
***
Apple was practically being run by its board of directors.
Most of its members were powerful figures from Wall Street.
As a Wall Street insider myself, I also held shares in Apple.
Being a board member gave me the right to convene a meeting, and today, for the first time since joining, I exercised that right.
This meant I would soon be sitting face-to-face with the titans of Wall Street.
"Calling a board meeting out of the blue? I barely have time to deal with Japan and Mexico, let alone Apple."
The first to enter the conference room was George from Quantum Fund.
Before my regression, he hadn’t been a major Apple shareholder.
But now, he held over 5% of the company and was part of the board.
He must have followed my lead.
George had an uncanny ability to sniff out money.
When he saw me acquiring Apple shares—*even offering a $7.5 billion derivatives deal to do so—*he must have sensed an opportunity.
"I called this meeting urgently because there’s something critical we need to discuss."
George nodded, his expression shifting.
"Well, you’re not the type to waste our time. I made sure every board member showed up today. Even the ones who refused—I dragged them here myself."
"I appreciate it."
George winked at me.
He must have been quite grateful for the derivatives deal.
No surprise there.
I had practically handed him an investment that would yield multiple times its value.
A mere board meeting was a small price to pay in return.
"BlackRock is here, and I see Vanguard’s representatives as well. We should be able to start soon."
Board members took their seats one by one.
Some firms had sent representatives instead of their CEOs, but since they had been granted full authority to act on behalf of their companies, there was no issue.
I stood up.
"I’ll get straight to the point. How long are we going to let Apple continue like this? I want to restore Apple to its former glory—and I have a plan to do it."
The boardroom buzzed with murmurs.
One of the members scoffed.
"You have a plan to revive Apple? Let’s hear it, then."
Before the room could descend into chaos, George stepped in to calm the situation.
Thanks to him, I was able to continue.
"Apple’s products have been consistently rejected by the public. But is that really because they’re outdated? I don’t think so. In fact, Apple is ahead of its time. The real issue is that they’ve failed to communicate this to consumers."
I paused, letting my words sink in.
"And the proof? The InoPhone."
I reached into my bag and pulled out a freshly manufactured InoPhone.
The Wall Street executives in the room were quick to recognize it.
They were already well aware of its existence.
"Everything about the InoPhone was handled by Steve, a former Apple executive. The design? That was Jonathan, also from Apple. In other words, the InoPhone is a product infused with Apple’s DNA. And the public has embraced it."
A murmur spread through the boardroom.
"Are you saying the InoPhone is essentially an Apple product?"
"That’s exactly right. Apple’s design. Apple’s sensibility. Apple’s talent."
"But as far as I know, the InoPhone is manufactured by Taewoo Electronics."
"Have any of you ever used a Taewoo Electronics phone before? Likely not. Until the InoPhone, they had never seen success in the mobile phone market. But with former Apple talent, they created an instant hit."
The InoPhone was making waves in the U.S. market.
Thanks to a well-executed buzz marketing campaign, it even became a hot topic in the news, further solidifying its presence.
"I understand the InoPhone is an impressive product. But Apple isn’t a phone company. It’s a computer company."
"Phones are evolving rapidly. They’re no longer just portable telephones—they are becoming portable computers."
"Portable computers? Why would anyone carry something like that?"
I scanned the room.
"Is there anyone here who hasn’t invested in the IT industry?"
Silence.
The IT boom was in full swing in the U.S., and Wall Street investors were scrambling to buy up tech stocks.
"Now, imagine if mobile phones were recognized as part of the IT sector. What do you think would happen?"
One of the board members muttered, "Stock prices would skyrocket."
"Exactly. If we position mobile phones as IT products, Apple will see a resurgence like never before. And the only person who can make that happen is Steve."
A heavy silence filled the room.
Finally, someone spoke.
"You’re suggesting we bring Steve back to Apple? Clearly, you don’t know him well. He’s a troublemaker—practically a dictator."
There was a reason the board despised Steve.
He was the opposite of compliant.
Once he made up his mind, he was relentless.
Negotiating with the board? Out of the question.
Anyone who opposed him became his enemy.
It was no surprise that the very mention of his name made the board uneasy.
But in the end, wasn’t stock performance the only thing that mattered?
Placing a yes-man in the CEO’s chair wouldn’t raise Apple’s stock price.
"Steve is the only one who can save Apple. He created Apple. And Apple’s entire philosophy was built on his vision."
A pause.
Then, George spoke.
"If SAVE Investment says so, I’ll follow their lead. I’ve been on Wall Street for a long time, but I’ve never seen a firm that makes the right call as consistently as SAVE."
George threw his weight behind me.
As the hottest name on Wall Street, his words carried considerable influence.
However, some of the firms present controlled even greater capital than George did, so his endorsement alone wouldn’t be enough to seal the decision.
A representative from Vanguard voiced his opposition.
"You claim Steve can save Apple, but I see him as just as likely to destroy it entirely."
To convince someone like that, a bold move was necessary.
I leaned forward.
"Give him just three years. If Apple’s stock price hasn’t improved by then, SAVE Investment will purchase all of your shares—at 30% above the current price."
A murmur spread through the room.
"SAVE Investment is personally guaranteeing this?"
It was a risk-free deal for the board.
If Apple’s stock rose, they’d profit.
If it fell, they’d still walk away with a 30% gain.
Even those who had been skeptical a moment ago now fell into deep thought.
George spoke up again.
"What’s there to think about? You’re all busy making money off derivatives anyway. And don’t forget—SAVE Investment was the one who provided those derivatives in the first place."
At the mention of derivatives, more board members started shifting to my side.
Then, one after another, they began voicing their agreement:
"SAVE holds the largest stake in Apple. We should follow their lead. I vote in favor of Steve’s return."
"Draft a contract outlining these terms, and I’ll cast my vote in favor."
"Next time you have a lucrative deal like the Japanese derivatives sale, let’s get in from the start instead of buying secondhand. In that spirit, I vote yes."
At the end of the day, money was all that mattered on Wall Street.
No one cared how difficult Steve’s personality was—if it meant making money, they were on board.
I smiled.
"A wise choice. Now, let’s move on to the method of Steve’s return. My proposal is for Apple to acquire NeXT, the company Steve currently runs."
Silence.
Then, someone scoffed.
"That would cost far too much. Apple doesn’t have the financial resources for something like that."
"I estimate the acquisition cost at $500 million."
The skepticism only grew.
"$500 million? That’s excessive."
It was a massive financial burden.
To cover that amount, Apple would need to either issue new shares or take on debt—neither of which were attractive options for the board.
That meant I had to make it attractive.
If there was one thing Wall Street investors hated, it was holding all the risk.
But if I could take on all the risk myself, then suddenly, it wouldn’t be so hard to get them on board.
TL/n -
The relationship between Jamie Dimon and Sandy Weill is a classic example of a mentor-protégé dynamic that eventually turned into a falling out.
Early Mentor-Protégé Relationship
- 1980s: Sandy Weill, a rising financial executive, hired Jamie Dimon straight out of Harvard Business School in 1982. Dimon became Weill’s right-hand man and quickly rose through the ranks.
- They built Citigroup together: Over the next 16 years, Dimon and Weill worked closely, acquiring and merging companies to create what would eventually become Citigroup, one of the world’s largest financial institutions.
- Dimon was seen as Weill’s heir apparent, and Weill treated him almost like a son.
The Breakup – 1998
- Despite their success, tensions grew between the two. Dimon was independent, outspoken, and ambitious, while Weill was known to be a strong-willed leader who didn't like to share power.
- The final straw: Weill forced Dimon out of Citigroup in 1998, reportedly because Dimon refused to promote Weill’s daughter.
- Dimon left without a job, despite being a key architect of Citigroup's success.
Dimon’s Comeback
- 2000: Dimon became CEO of Bank One, turned it around, and later merged it with JPMorgan Chase in 2004.
- He quickly became the CEO of JPMorgan Chase, transforming it into the most powerful bank in the U.S..
Their Relationship Today
- Over the years, Weill has admitted that forcing Dimon out was one of his biggest mistakes.
- Dimon, while still respectful of Weill’s mentorship, has moved beyond their history and is now one of the most influential figures in global finance.
Irony:
- Today, Jamie Dimon is far more successful and influential than Weill. JPMorgan Chase, under Dimon's leadership, outperformed Citigroup, which struggled after the 2008 financial crisis.
- Dimon is often seen as "the last great banker", while Weill is largely retired from public life.
It's a classic Wall Street power story—a young, ambitious executive learns from a great mentor, surpasses him, and ultimately outshines him.
