福耀玻璃 曹德旺 & “American Factory”

Obama & wife recently made a documentary film “American Factory” about the legendary Chinese company 福耀玻璃 “Fuyao Glass” owned by 曹德旺, a 72-year-old southern Chinese (福清人),with only few years of education, mostly self-taught.

21 Aug 2019 Netflix Movie 《American Factory》A closed-down Ohio General Motor factory took over by Fuyao, providing 2,000 jobs to the retrenched GM former employees, but the “American Workers’ Union” brought in new struggle with the Chinese management…

The interview below revealed some of 曹德旺 business and life wisdoms:

  1. America’s mistake in the 80s of “De-industrialisation” aka “Assets light” by closing down USA factories, outsourcing manufacturing overseas, then chase after 3 sources of fortune in : Hollywood, Wallstreet and Virtual (Internet) Economy.
  2. Charity: he donates 50% of his own Fuyao shares to a Foundation fund for charity. Example: For Fujian earthquakes disaster, he gave his money on condition to only those victims who have no roof above them, not those who have other house elsewhere (with which they still can survive by selling or renting out.)
  3. Successor: he supports his son to quit as the 福耀 CEO to be on his own as an entrepreneur. He taught his son a smart way to control the family’s business via the Holding Company (控股集团), and let the 福耀 Chairman & CEO run the business, only change them if they are found incompetent.
  4. At 70 he feels still young, so he volunteers to run the USA new venture for his CEO. He compares himself with 姜子牙, who at 80 just newly married became the Prime Minister of 周文王.

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