U.S. COMPANIES SECRETLY OWNED BY CHINA: These U.S. Companies have been sold to China over the years

top 10 u.s companies secretly owned by china the u.s and china have had a very unstable year so far and tensions seem to be growing daily between the world's two great superpowers now we know that neither the u.s nor china is willing to back down from this economic game of chicken so here are a few u.s companies big and small that most do not know china owns now let's jump right into it number 10 continental aerospace technologies known for making engines for light aircraft the continental aerospace technologies company was founded in 1905 and headquartered in mobile alabama in 2010 the company was purchased for 186 million dollars by the aviation industry corporation of china avic which is directly owned by the people's republic of china after the purchase very little is known of what has taken place with the company in 2019 it was announced that aviation industry corporation of china's subsidiary continental aerospace technologies would partner with austrian diamond aircraft industries they would be working on luxury aircraft and continental aerospace technologies would be providing the diesel engines since they are a private company they do not have to disclose information about what they have done since the acquisition or plan to do many speculate that the purchase was made in order for aviation industry corporation of china to have a stronger foothold in the u.s markets number nine strategic hotels and resorts incorporated previously owned by the blackstone group they agreed to sell the strategic hotel and resorts to chinese firm and bang in 2016 for 6.5 billion this helped bolster and bang's already large portfolio which included the waldorf astoria now many may not know but the strategic hotel and resorts is also a reit which stands for real estate investment trust reit is a company that owns and or operates income producing real estate since reits are required to distribute at least 90 percent of their taxable income back to investors they tend to be a popular choice for investment on a side note one of their largest investors was none other than bill gates with a whopping 1.74 million shares of strategic hotels and resorts incorporated the us government was concerned with the deal because one of the 18 hotels and resorts owned by the blackstone group hotel del coronado to be exact is located adjacent to the u.s naval base coronado this concerned the u.s government so much that it forbade blackstone from selling hotel del coronado and dropped the value of the deal down to only 5.5 billion dollars number eight motorola mobility google acquired motorola mobility for 12.5 billion dollars and owned the company from may 2012 to january 2014. in january 2014 they sold the company to chinese owned lenovo for 2.91 billion dollars now for anyone who can't math this is a massive loss of 9.59 billion dollars lenovo stated that they would use the purchase as a way of expanding into the u.s market google did make part of the deal that they would keep 2 000 of motorola's patents and they would not part with google's advanced technology and projects group summing this up it seems that google bought the company and resold it once they figured out what was worth keeping and what was not since the purchase motorola has faced tons of criticism with many stating that they have extremely poor commitment to maintaining android software updates to its devices this combined with an extremely lackluster lineup of recent phones that don't compare to brands like apple samsung oneplus and others number 7. riot games riot games known for the massively successful league of legends and their most recent game valorant was fully bought by one of china's largest conglomerates tencent in december of 2015 originally buying a 93 share of riot games for 400 million dollars in february 2011 and buying the remaining seven percent for an undisclosed amount in 2015. since the purchase most gamers have been very happy with the results some gamers have even gone on to become household names in the gaming community due to the popularity of league of legends two of riot games most notable controversies would be around once toxic player tyler1 and the 2019 blitzchang liberate hong kong statement if you have not heard by this point it is basically illegal to say anything negative demeaning derogatory or unkind about the chinese communist party just ask league of legends player blitzchang who was banned from the current tournament in 2019 forced to forfeit all of his current winnings and banned from the grand masters tournament for one year number 6 waldorf astoria new york although the waldorf astoria is currently closed due to a massive renovation undertaking that is expected to be finished in 2021 it was purchased by anbang in 2014 for 1.95 billion dollars and apparently the person who brokered the deal was businessman wu xiaohui who has been sentenced to 18 years in prison what was he charged with you might be wondering well 12 billion dollars of fraud and embezzlement adding insult to injury the chinese government took all of his 1.65 billion dollars in assets as well now the waldorf astoria has a very interesting history from being started as two separate hotels by feuding relatives to being the site of the world peace conference of march 1949 not only that the waldorf astoria was the residence of herbert hoover during his retirement to housing frank sinatra from 1979 to 1988. there are very few places that have this level of history that are still standing which is why it surprised so many when it was sold to anne bank since it was acquired plans were made to convert some of the rooms into condominiums and the finished product will hold 375 hotel rooms and 375 brand new residential condos if you know of any more interesting facts about the waldorf astoria post them in the comments alright we are halfway through our list now so if you've not hit like and subscribed please do so now it really helps our channel to continue growing and allows us to continue making content now let's get back to the list number five legendary entertainment legendary entertainment was purchased for 3.5 billion dollars by wanda group marking it as the largest acquisition by a chinese firm of an american company at the time never heard of wanda group well don't worry many outside of china haven't wanda group is a multinational chinese conglomerate based in chinese capital beijing legendary entertainment was founded by thomas tull in 2000 who raised 500 million dollars from private equity firms and had the business incorporated in california after the deal was finalized the company went through two ceos with the current ceo being joshua groad legendary entertainment has gone on to publish some of the most popular movies of all times from the batman trilogy 300 the hangover inception man of still interstellar jurassic world and upcoming film godzilla vs kong over the last several years growing tension between the us and china has caused many accusations of legendary entertainment pandering films to suit chinese agendas legendary entertainment has been accused of pushing pro-china themes content ideals censoring and editing for a pro-china wide release number 4. smithfield foods smithfield was founded by a father and son joseph w luter senior and joseph w luter jr in 1936 in smithfield virginia after 77 years in the business they were bought by wh group formerly known as schweng hui group this acquisition cost 4.72 billion dollars not only did this make wh group one of the largest pork producers in the world it also made them one of the largest overseas owners of american farmland wh group now owns approximately 146 000 acres from this one deal that amount of land is larger than the redwood national park in california when this happened many rumors started to spread across the u.s these rumors ranged from the quality of their pork not being the same to all of smithfield's pork being supplied and shipped from china smithfield stepped in making several statements to debunk all of these rumors even with them addressing said rumors many began to question whether the u.s would allow one of its largest pork suppliers to be owned by china number three ingram micro ingram micro is one of the big players in the information technology industry having one of the largest global infrastructures ingram micro was founded in 1979 in irvine california by husband and wife team guezza segue and lorraine mecca both were teachers in california and found much success in their first year of business making 3.5 million dollars in sales ingram micro grew to massive success and within four years they had their first initial public offering ipo their primary focus is cloud mobility technology life cycle supply chain and technology solutions however in 2016 tianjin tianhai investment an associate company of mega conglomerate h a group acquired ingram micro for six billion dollars hna group stated that the reason for the acquisition was strategic and was meant to target emerging markets with better growth rates and higher profitability as of 2020 claims have been made that the chinese government plans to take over the struggling h a group even though ingram micro is one of their most profitable assets to date h a group as a whole is not doing well so at that point we can only imagine what it would look like with the chinese government fully running h a group and subsequently ingram micro number two amc here is yet another company that was purchased by wanda group american multi-cinema or amc theaters for short was purchased by wanda group on september 4th 2012 with locations in both the us and canada amc has over a thousand theater locations across the u.s totaling 11 091 screens this acquisition made wanda group the largest cinema chain in the world as of 2020 amazon has been eyeing amc and rumors have been gaining steam that they might make a bid for the company this would put amazon in a position to compete with hollywood and push their media movies and tv shows beyond just prime video not to mention the current turmoil with the ongoing pandemic amazon would be able to purchase amc for pennies on the dollar this would once again make amc a u.s owned company but is amazon too powerful already what are your thoughts of amazon buying amc theaters from wanda group be sure to let us know in the comments number one general electric appliances general electric appliances was founded in 1905 and bought by chinese multinational home appliance and consumer electronics company hire for a total of 5.6 billion dollars in 2016. as part of the deal haier was given the rights to use the ge brand name until 2056 which included the following brands ge ge profile cafe monogram and hotpoint ge stated that it sold off the appliance business to focus on its primary business in the industrial sector general electric also stated that they saw little to no value in their appliance division whatever value they did not see higher did see the apparent value that hyre saw was enough for them to spend 5.6 billion dollars and they quickly established plans for a full turnaround shortly after the acquisition they launched a refresh tagline good things for life a nod to general electric's history if you have noticed a huge shift in the quality of your most recent appliance purchases we aren't saying that it's because of them being acquired by hire but we aren't saying that it isn't either bonus chicago stock exchange why this would be allowed to begin with baffles many but luckily the securities and exchange commission sec blocked the takeover even president donald trump rallied against the deal and it was proposed to be purchased for only 20 million dollars u.s lawmakers on both sides of the aisle agreed and criticized the deal in joint letters to the sec with many stating that it would give the chinese government affiliated company far too much insight into the u.s markets this was easily seen by many as a national security threat making others who knew about the deal question what u.s companies should be allowed for purchase by foreign investors what acquisitions surprised you the most or which ones did you know of before this video as always don't forget to subscribe to the channel and like our video before the like button is bought by china check out some of our other videos featured to the left or right

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Keywords: China vs USA, China vs India, United States, United States vs China, United States Tiktok Ban, Tik Tok banned in America, China US trade war, China US War, US trade war, US trade war with China, Trade War Between US and China, United States and China, Donald Trump, Xi Jinping, President Xi Jinping, US Tariffs, Trump Tariffs, China In Focus, US China Cold War, US China Tension, South China Sea, Beijing Olympics, Biden and China, Biden and Russia, Taiwan, us and taiwan

Id: mfKy2FiMH8o

Length: 13min 15sec (795 seconds)

Published: Thu Aug 27 2020