Chapter 826: 283, from 130 million to 200 million

Although the United States’ economy developed rapidly after entering the 20th century, a capital over one hundred million US Dollars remained an extraordinarily large figure.

Even if Donnie took out loans from Mellon and Morgan separately, an average allocation would still amount to 50 million US Dollars each.

This sum was not a small figure either!

“Donnie, I just got back from Atlantic City not too long ago, are you planning to have me return to Atlantic City, or are you preparing to go to war with Rockefeller?”

Jack Morgan called, his tone filled with disbelief!

“Rest assured, if I were going to war with Rockefeller, I would certainly notify you Morgan folks in advance!”

Donnie spoke with a laugh while holding the phone.

Jack Morgan on the other end of the phone clearly breathed a sigh of relief, but still asked, “The collateral you’re providing is definitely without issue, but you ought to tell me what you need such a large sum of money for, right?”

Donnie didn’t hide his intentions from Jack Morgan, explaining, “I have been studying Miami’s situation recently…”

Jack Morgan’s teasing tone disappeared, and he said seriously, “Wait a minute, don’t hang up the phone!”

Donnie then heard Jack Morgan’s voice over the phone as he called for his assistant and began inquiring about the situation in Miami.

About ten minutes later, Jack Morgan resumed his conversation with Donnie.

“Donnie, I assume you’re not just planning to invest 50 million US Dollars this time, right?”

Donnie nodded and said, “I have 30 million US Dollars of my own, and I will also take out a 50 million US Dollar loan from Mellon, totaling a 130 million US Dollar loan!”

Jack Morgan took in a sharp breath. Though Morgan had given out larger loans, the idea of Donnie single-handedly buying 130 million US Dollars worth of Miami land was still very surprising.

“If your estimate is wrong, your losses will be enormous!” Jack Morgan said to Donnie.

Donnie smiled and replied, “I’ve done the calculations; I can afford a loss of over a hundred million in two years!”

“This is a huge gamble!” Jack Morgan couldn’t help but say.

“Jack, you should know that once this capital enters Miami’s real estate market, loss is already out of the question. What we actually need to analyze now is how much profit it will bring in the end!”

Such an enormous sum entering Miami’s property market will definitely inflate the land prices there, a nearly certain result. Hence, it is true that rich people find it easy to make money, as long as they don’t invest recklessly!

Jack Morgan sighed, “It seems that my previous estimate of twenty years was a bit conservative, Donnie, you always manage to surprise people!”

Donnie laughed heartily, “I accept your flattery!”

Jack Morgan suggested, “How about this, Donnie, you come to New York and I will also invite Andrew to New York. We can then discuss a mutually agreeable way to cooperate, how about that?”

Clearly, Jack Morgan was also eyeing Donnie’s plan by this time!

Donnie merely considered briefly before agreeing to Jack Morgan’s invitation.

.

A few days later, Donnie, Andrew Mellon, and Jack Morgan met in secret at Jack Morgan’s estate!

Before coming, Andrew Mellon had communicated with both Donnie and Jack Morgan over the phone and was naturally aware of the matter.

“Donnie, we at Mellon are ready to join in on this!”

This meeting of the three men had almost no pleasantries; right after meeting, Andrew Mellon made his stance clear.

Clearly, Andrew Mellon also saw that more capital influx would mean more profit, and under their operation, it was truly difficult to lose money!

Therefore, Andrew Mellon did not hesitate to make his attitude known at all.

Jack Morgan had invited Donnie and Andrew Mellon precisely for this matter; now that Andrew Mellon expressed his willingness to join, he naturally had no intention to pause either.

Thus, shortly after Andrew Mellon indicated his participation, Jack Morgan immediately stated that Morgan would join as well.

“Both of you willing to join is, of course, most welcome!” first stated Donnie, welcoming their participation, but he also raised a condition.

“However, before we start collaborating, there is something I must tell both of you: This deal must be under my control. When to buy, at what price to buy, when to sell, at what price to sell–you both have to follow my orders. If you cannot agree on this, then we can only operate separately!”

What Donnie needed to do was sell all the land in Miami before the hurricane struck, preferably by 1925, to then exchange it for a large amount of cash. After that, quietly wait for the Miami hurricane to strike.

At that time, Miami would become a wasteland, and all investments would be lost.

By then, the most plentiful in Miami would be those banks with more debts than assets, and their land prices would collapse like an avalanche. Donnie could then use this capital to turn the tables and regain control of Miami’s property and financial markets!

The most critical part of the entire plan was to sell these lands by 1925. Donnie didn’t wish for the Morgan and Mellon banks to see the rising land prices in Miami and hesitate to sell!