I don't care if my friends are broke; they're still not as rich as I am.
This phrase was once the most arrogant 'golden quote' from Wang Sicong.
500 million 'practice money': a rich kid's shining moment.
At just 21, Wang Sicong returned from studying in the UK. Wang Jianlin handed him 500 million: 'Use this for investments, and you can afford to fail twice. If you lose both times, it’s back to work at Wanda.'
With this capital, Wang Sicong launched Pusi Capital.
Investing in Hero Entertainment brought in a profit of 51.81 million in just six months; backing companies like Dianping, 360, and Xiaoguo Culture, he has a portfolio of over 90 companies with plenty of success stories.
He seized the esports trend, acquiring the CCM team and rebranding it as iG club. In 2018, iG clinched the League of Legends World Championship.
His persona as the 'entertainment industry watchdog' is truly unique.
Wang Xiaofei and Big S's wedding, Fan Bingbing's 'carpet star' controversy... Who's hot, who clashes with whom, nobody's afraid. Back then, he was a regular on trending searches and a traffic generator, celebrated by netizens as the 'national husband.'
Unfortunately, he made the classic mistake of all trend chasers—treating the platform's resources as his own abilities.
A mess: Panda's bankruptcy, nearly 2 billion in debt, shares frozen.
The turning point started in 2019.
The Panda Live he founded burned through cash and declared bankruptcy. Pusi Investment took on nearly 2 billion in debt, and Wang Sicong was listed as a defendant and restricted from high spending by the court.
At the time, the outside world thought this was just 'a small setback for the young master,' after all, he had the mighty Wanda behind him.
But who would have thought that Wang Jianlin's days are also tough.
Wanda's total liabilities have hit 600 billion, and Wang Jianlin's personal net worth has plummeted from 220 billion to 10 billion.
On one hand, Dad is desperately selling assets to pay off debts, while on the other, his son loses 7 million in a London casino in one night.
In early 2026, the equity of Wang Sicong's core investment platform was publicly auctioned—assessed at -166.62 million, starting bid only 10.75 million.
He claimed to 'understand young people,' but forgot that the essence of business isn't chasing trends, but risk management.
At 38: bald, overweight, and aged.
As financial collapse hit, his image also completely 'collapsed.'
In April 2026, netizens spotted Wang Sicong at a budget barbecue restaurant in Seoul, South Korea.
In the photo, he sports hair so sparse it barely covers his scalp, with a receding hairline almost to the back of his head, and deep nasolabial folds as if carved by a knife.
That young master who once spent 330,000 on a meal and flew around on private jets is now squeezed at a small table with friends, eating barbecue for under 100 each.
Doctors had long warned him about 'overextending his health', yet he still partied every night.
Netizens brutally commented: 'At 38, he has the hair of a 60-year-old and the spirit of an 80-year-old.'
Three lessons for ordinary people: The truth that's more heart-wrenching than a fall from grace.
Wang Sicong's story isn't just a rich second generation's 'wasteful history'; it provides ordinary people with three heart-wrenching yet real lessons.
Lesson One: Thinking of the platform as a skill is the biggest illusion.
How much of Wang Sicong's early success was due to being 'Wang Jianlin's son'? He might not even know himself.
Did those businesses he invested in rely on his vision or his father's backing?
When the tide goes out, you find out who’s swimming naked.
Lesson Two: Risk management is more important than making money.
He always chases the trend—streaming goes hot, he dives into Panda, esports heats up, he backs iG, immersive entertainment takes off, he invests. But he's only learned to 'charge' and never learned to 'withdraw.'
Ordinary folks should remember: Making money is important, but keeping it safe is even more crucial.
Lesson Three: Responsibility is the most basic bottom line.
What saddens people the most about Wang Sicong isn't that he's out of money, but his attitude towards his children and ex-girlfriends. 2 million is just a meal for him, yet he chose the coldest response.
A person's value is not just measured by what they have, but by what they are willing to bear.
Conclusion: After the tide recedes.
Wang Sicong once said: 'What is success? For me, it means doing whatever I want.'
But what was the result? Failed investments, a crumbled image, and a life in disarray.
Doing whatever you want isn't success. Being able to control yourself is.
Wang Jianlin's phrase 'I allow you to fail twice' was really meant to give his son room to make mistakes.
But he didn't realize that the biggest failure isn't losing money, it's that his son doesn't even know what 'being responsible for yourself' means.
Wang Sicong's story isn't over yet. It's just uncertain whether he can rise again from this mess. $BNB
