Chapter 3: The Miracle Investment Company
“Oh, no. I like it.”
The hamburger wasn’t the point. It was more about the casual nature of the meeting, suggesting a low-pressure encounter.
The idea of Dell Computers seemed to be slipping further away.
Even in the comfort of a hotel room, sleep was elusive.
I spent the night pondering how to turn a rejection into acceptance, finally dozing off at dawn.
By 1 PM, I found myself at a Wendy’s on Round Rock Street, facing a long line.
With Texas State University nearby, the place was packed with students.
“Damn. They all look the same. How am I supposed to find him?”
The store had that distinct Southern vibe. The guys were all in jeans and checkered shirts, making it impossible to pick out Michael Dell.
A middle-aged Asian man looking around probably stood out more.
“Hey, Mr. Oh?”
I turned towards the voice calling my name.
A young man with a straw in his cola cup.
This was Michael Dell, 24 years old.
At 27, he’d become the youngest billionaire on the Fortune 500 list, and by 34, he’d be one of America’s top five richest, with a net worth of $21.4 billion. Yet, he looked just like any other college student.
Of course, he was already a millionaire.
“Mr. Dell?”
“Yes.”
He handed me a paper bag with a hamburger and gestured with his eyes.
Where was he leading me?
He walked out of the store, heading towards a nearby park.
He plopped down on a bench and flashed a smile.
“Isn’t this better? It was too noisy in there.”
“Yes, it’s nice.”
“And that guy…?”
“Oh, Mr. Dell. You could say he’s a fan of yours.”
“A fan? Haha.”
Michael burst into laughter and extended his hand to Oh Se-hyun.
“Just call me Mike.”
“Alright. I’m James.”
Michael Dell shook hands lightly and winked at me.
“So, what’s the deal? I’ve got to get back to the office in 15 minutes.”
Fifteen minutes was all we had.
Oh Se-hyun spoke quickly.
“Our company, Miracle Investment, wants to invest in yours. The amount and terms are…”
Dell raised a hand, hamburger in tow.
“No need for investment. We have enough funds.”
There was a hint of irritation in his eyes.
The company had ample funds, $30 million, a well-known fact in the industry.
If you didn’t know that, it meant you lacked the basics as an investor, and Dell’s gaze clearly showed he underestimated Oh Se-hyun.
Welcoming any investment with open arms would be amateurish.
Investment dilutes the founder’s shares.
It can reduce your stake or become a debt.
A wise manager only takes as much investment as needed.
“Of course, I understand. But if the investment terms are exceptional, wouldn’t you reconsider?”
“James, my company isn’t like IBM, filled with greedy executives. I only need funds for expansion, and I have a perfect plan. We’ll earn money through profits, not by foolishly issuing a ton of stock.”
He even used words like greed and foolish.
Accepting investment would only prove he was greedy and foolish, a perfect way to reject us.
I expected it to be difficult, but to be turned down without even hearing the terms!
Oh Se-hyun couldn’t hide his discomfort.
Even I, who had been quietly listening, started to feel anxious.
Oh Se-hyun might see it as missing out on a good investment opportunity, but for me, it was different.
This was the second step in a grand plan.
The first step was easy, knowing a new city would rise in Bundang. All I had to do was charm a wealthy grandfather.
But this was different.
I had a precise treasure map in my head, but the captain of the ship to Treasure Island refused to let me board.
Knowing the future was useless now. I had to break through with my own strength. I had to persuade Michael Dell, the captain.
I had already made up my mind and spoke up.
“Mike. Oh, can I call you Mike?”
“Sure, buddy.”
Michael Dell winked and smiled, but Oh Se-hyun was different.
He never expected fluent English to come out of my mouth, and his eyes looked like they might pop out.
“Your past is my present, and my future is your present.”
“What? That’s a big dream. My childhood was a bit different, though.”
“Of course, it’s a bit different. No, very different.”
“How so?”
“When you were 12, you had just $2,000 from selling stamps. But now, at 12, I have $15 million from selling land.”
Now it was Michael Dell’s turn to look like his eyes might pop out.
Their expressions were the same, but for different reasons.
Oh Se-hyun was shocked by my English, and Michael Dell by my money.
“I don’t know what you did with your $2,000. But I’ve already decided what to do with my $15 million. I’m going to become a major shareholder in Dell Computers.”
I finished speaking, but there was no reaction.
For a while, only the sounds of the park surrounded us.
“Do-jun, you…”
“Uncle, later. We have more important things to discuss now.”
Michael Dell looked back and forth between us, then spoke to Oh Se-hyun.
“James. Your son?”
“No. My… boss, maybe…”
Michael Dell stared at me, as if trying to understand, then burst into laughter.
“OK. Fifteen million dollar boy.”
He didn’t even ask my name, just mentioned my money.
“Just two questions.”
“Sure.”
“Where did you hear about me selling stamps?”
Oops, a slip-up. Hasn’t that story come out yet? I had no choice but to be vague.
“We’re talking about a $15 million investment. Would we move without researching you? Our company isn’t that sloppy.”
“You even hired a detective? Impressive. Alright, the next question.”
He smiled broadly, but it wasn’t a friendly smile. It was pure curiosity.
“If I don’t want investment, how do you plan to become a major shareholder? I still hold the majority of voting rights in our board. My decision is absolute.”
“Won’t you go public next year?”
Michael Dell’s smile vanished.
He hadn’t told anyone yet. It was just a thought. He planned to inform the management and investors early next year and prepare. Yet, this young Asian kid had read his mind!
“Why do you think that?”
“Because the fruit is ripe. You should pick it when it’s at its best.”
“So, if our company goes public…”
“I’ll buy up shares indiscriminately. With $15 million, I could quickly become a major shareholder, don’t you think? Oh, and I should mention, I can prepare another $10 million by the end of this year. I still have valuable land left.”
$25 million.
It was only a matter of time before my words became reality. Realizing this, Michael Dell’s face hardened. Seeing this, Oh Se-hyun quickly spoke up.
“As a major shareholder, I’ll join the board and be deeply involved in management. It’s a natural demand.”
He interjected at just the right moment.
He knew well that you couldn’t just stay surprised. You had to attack when you had the momentum.
Michael Dell’s face had already shaken off the surprise and curiosity. He was back to being the sharp businessman.
“Well, there’s no helping it. Whether you buy through the stock market or invest… with that kind of money, you’ll become a major shareholder anyway. If you’re qualified as a major shareholder, of course, you’ll join the management.”
Michael Dell had regained his composure and spoke nonchalantly, taking a bite of his hamburger.
“Wow, thanks to my wealthy friend, I’ve gone way over 15 minutes. I didn’t even get to eat properly.”
Dell stood up from the park bench and dusted off his pants.
“Wealthy friend, when we meet again, you’ll be a major shareholder, huh? Let’s see if it’s next year or not.”
Oh Se-hyun’s expression darkened. He thought the negotiation was over.
But I still had a card to play. A card that might make the captain allow me to board. But the outcome was still unknown. You never know until you reveal your hidden card.
“Mike, I could give you all my voting rights as a shareholder. Are you just going to leave?”
The hand dusting off his pants paused.
The reason for rejecting investment was clear. He had enough funds and firmly held management rights. Management rights he couldn’t afford to lose.
Especially with shareholders starting to show their claws.
After going public, a large stock acquirer was inevitable. If he planned the IPO with management defense in mind, that problem could be solved too.
The biggest fear was the unity of major shareholders excluding himself. If the opposition united to form 51%, he’d lose management rights despite being the founder.
But a kid offering to pour in $25 million and give up voting rights? This was a chance to build an ironclad defense around management rights.
Dell looked at me for a moment, then spoke to Oh Se-hyun, even smiling.
“James. What’s your boss’s name?”
“Ah…”
Caught off guard by the sudden question, I answered for the flustered Oh Se-hyun.
“Howard, my name is Howard Jean.”
“Alright, Howard. You just earned yourself a coffee break with me. Shall we head to a café? They’ve got killer sweet cakes.”
“In a café, the coffee’s more important. How’s the coffee?”
“Of course, it’s killer. But you know, you don’t look like me.”
“What?”
“When I was your age, I liked cake way more than coffee. Haha.”
Michael Dell burst into laughter as he led the way.
“Do-jun.”
“Yes?”
Oh Se-hyun, who was following behind Dell, called out to me softly.
“You really surprised me… I suppose you’ll have to explain all of this?”
“Right now?”
“Not yet. That guy hasn’t accepted our offer, so later.”
“Honestly, it’s hard to explain. Just think of it as a natural gift for business.”
“A genius, huh…”
Oh Se-hyun murmured quietly, then looked down at me again.
“By the way, when did you come up with the name Howard? Was it during your English lessons?”
“No, much earlier.”
Even I was a bit surprised at how the name Howard had slipped out.
In my past life, it was a name that seemed like a dream or a fantasy.
Howard Robard Hughes Jr.
An American businessman, aviator, engineer, and film producer.
The quintessential American tycoon.
A man who tried everything he ever wanted to do in his lifetime.
Born with a silver spoon, with a wealthy father and a mother of British aristocratic descent.
He was the person I had always dreamed of becoming.
Even Iron Man’s Tony Stark and his father, Howard Stark, were modeled after Howard Hughes.
To Americans who value ambition and freedom, his life seemed the ideal of a billionaire’s existence.
In my past life, I saw him as a dream, but now, I’m no different from him.
I will become the Howard Hughes of the 21st century. Under the name ‘Howard Jin.’