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Chinese billionaire&nbsp;<a href="https://www.forbes.com/profile/he-xiangjian/#1a7eb7342bfe">He Xiangjian</a>&nbsp;survived an abduction plot this weekend after kidnappers carrying explosives forced entry into his home at Guangdong province.



He Xiangjian, one of the richest men in China with an estimated net worth of $24.8 billion, was rescued on Sunday after his son, 55-year-old He Jianfeng, sneaked out of the family home and swum across a river to raise the alarm, according to local news.



According to a statement posted on Weibo, a Chinese equivalent to Twitter, police responded on Sunday night to a break-in at an 18-hole golf course and sports center owned by He Xiangjian’s Midea Group.



Although police have not named He Xiangjian in their statement, a spokesperson for the local Foshan Public Security Bureau wrote on Weibo, “The victim is safe!” with the police statement attached. Midea Group confirmed the incident on Weibo, and thanked the “media and all sectors of society for their concern.&#8221; 



<h2 class="wp-block-heading">Who is He Xiangjian?</h2>



Entrepreneur He Xiangjian is the founder of home appliance giant Midea Group, which took shape in 1968 after He led a group of 23&nbsp; residents from Guangdong Province to form a lid production workshop.



Today Midea Group trades on the Shenzhen stock exchange and has more than 200 subsidiaries, including Germany-based robotics firm Kuka. Xiangjian stepped down from its operations in 2012. His son He Jianfeng is now a director of Midea Group and Midea Real Estate Holding.



In January, Midea Group donated products like air conditioners, water heaters and washers and dryers to Wuhan hospitals battling coronavirus.



He Xiangjian is currently the 7th richest billionaire in China, according to <a href="https://www.forbes.com/real-time-billionaires/#e0f70223d788">Forbes’ Real Time Rankings</a>.



&#8211;<a href="https://www.forbes.com/sites/daviddawkins/">David Dawkins</a>, Forbes Staff, <a href="https://www.forbes.com/worlds-billionaires">Billionaires</a>

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Chinese Billionaire Held Hostage With Explosives As Son Swims Across Lake To Raise The Alarm

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TOPLINE Twitter announced Wednesday that it will test a new feature that will prompt users to open up a link to an article before sharing it, which appears to be a move to further combat the spread of misinformation on the platform.



KEY FACTS



<ul><li>Some Twitter uses may be subject to a prompt to click on a link if they try to retweet without reading the article first, billed by Twitter as a feature “designed to <a rel="noreferrer noopener" href="https://twitter.com/TwitterSupport/status/1270821434462539783?s=20" target="_blank">empower</a> healthy and informed public conversation.”</li></ul>



<ul><li>English speakers on <a rel="noreferrer noopener" href="https://twitter.com/TwitterSupport/status/1270783537667551233?s=20" target="_blank">Android devices</a> will be the first to see the tests.Users will still have the ability to retweet a message without clicking the link first if they chose to <a rel="noreferrer noopener" href="https://twitter.com/TwitterSupport/status/1270783537667551233?s=20" target="_blank">tap through</a> the prompt.</li></ul>



<ul><li>According to Twitter Support, an official company account, the platform will only check if a user has clicked the article link recently <a rel="noreferrer noopener" href="https://twitter.com/TwitterSupport/status/1270804405886091266?s=20" target="_blank">through Twitter</a>, not elsewhere on the internet.</li></ul>



<ul><li>Twitter denied some skeptical users’ accusations that the platform is testing the feature to establish a revenue stream via click-through to outside websites, saying the platform is not <a rel="noreferrer noopener" href="https://twitter.com/TwitterSupport/status/1270821781843124227?s=20" target="_blank">testing ad products</a> with the prompts.</li></ul>



<ul><li>Twitter Support told one user it would watch to see if reminding users to read an article before they share it leads to more <a rel="noreferrer noopener" href="https://twitter.com/TwitterSupport/status/1270809139917225985?s=20" target="_blank">informed discussion</a>.</li></ul>



<figure class="wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sharing an article can spark conversation, so you may want to read it before you Tweet it. To help promote informed discussion, we&#39;re testing a new prompt on Android –– when you Retweet an article that you haven&#39;t opened on Twitter, we may ask if you&#39;d like to open it first.&mdash; Support (@Support) <a href="https://twitter.com/Support/status/1270783537667551233?ref_src=twsrc%5Etfw">June 10, 2020</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



CRUCIAL QUOTE



“It&#8217;s easy for links [and] articles to go viral on Twitter. This can be powerful but sometimes dangerous, especially if people haven&#8217;t read the content they&#8217;re spreading. This feature (on Android for now) encourages people to read a linked article prior to retweeting it,” Twitter product lead Kayvon Beykpour&nbsp;<a href="https://twitter.com/kayvz/status/1270788548002631681?s=20" target="_blank" rel="noreferrer noopener">commented</a>&nbsp;upon the announcement of the feature testing.



KEY BACKGROUND



The new prompt tests are the latest Twitter effort to curb the spread of misinformation on the platform. Twitter last month displayed <a href="https://www.forbes.com/sites/iainmartin/2020/05/29/twitter-flags-trump-tweet-threatening-violence-against-minneapolis-protesters/#5684bf57bc33">fact-check tags</a> on two of President Donald Trump’s tweets that featured misleading information regarding mail-in ballots and voter fraud. Twitter also rolled out testing for a new feature to allow users to <a rel="noreferrer noopener" href="https://www.theverge.com/21286855/twitter-articles-prompt-unread-feature-conversations" target="_blank">limit</a> who can reply to their tweets. The platform has faced <a href="https://www.forbes.com/sites/jackbrewster/2020/05/27/heres-why-twitter-is-facing-attacks-from-both-trump-and-democrats/#3a95dad95df0">criticism</a> from both sides of the aisle in recent weeks, from conservatives over accusations of censorship and from the left for not doing enough to stifle misinformation.



&#8211;<a href="https://www.forbes.com/sites/carlieporterfield/">Carlie Porterfield</a>, Forbes Staff, <a href="https://www.forbes.com/business">Business</a>

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Twitter Begins Asking Users To Actually Read Articles Before Sharing Them

It’s been a busy year for Bill Ackman of hedge fund Pershing Square Capital Management. Ackman spotted the risks from the coronavirus pandemic early, building a massive credit hedge in January and February that&nbsp;<a href="https://www.forbes.com/sites/antoinegara/2020/03/25/billionaire-bill-ackman-100-fold-return-on-coronavirus-hedge-2-billion/#4be334c56fcc">protected his hedge fund</a>&nbsp;from the market plunge. Then, he doubled down near the market lows and is up 30%-plus for the year, compounding Pershing Square’s 58% gain in 2019. Now, the hedge fund billionaire is looking for his next signature deal.



Ackman is planning to raise up to $1 billion using a publicly traded blank-check company, which will then be used to buy a stake in a business and bring it to public stock markets. The brewing deal,&nbsp;<a href="https://www.reuters.com/article/us-pershingsquare-investment-exclusive/exclusive-pershing-squares-ackman-eyes-1-billion-plus-blank-check-company-sources-idUSKBN23I1ZD" target="_blank" rel="noreferrer noopener">first reported by Reuters</a>, would give Ackman the opportunity to make a major new investment. (Pershing Square declined to comment.)



This year, Pershing Square used the March market plunge to rebuild a position in Starbucks and add significantly to holdings like Lowe’s, Howard Hughes and Restaurant Brands. Pershing Square also build a stake in private equity giant Blackstone Group, first <a href="https://www.forbes.com/sites/antoinegara/2020/03/18/the-billionaire-interview-that-tanked-the-stock-market/">reported</a> by Forbes, but then sold quickly, he recently told investors. Typically, when Pershing Square scales a new investment it commits between $500 million and $1 billion to the idea, or about a 5%-to-10% weight.



Blank check companies have become popular in recent years as a way to take private equity and venture capital backed companies public. Notable recent deals include the listings of DraftKings, Virgin Galactic and most recently, hydrogen truck unicorn Nikola Motor Company. These vehicles have attracted big names on Wall Street,&nbsp;<a href="https://www.forbes.com/sites/antoinegara/2019/12/10/david-cote-goldman-sachs-leveraged-buyout-vertiv/#12339c7ab058">from Goldman Sachs</a>&nbsp;to Barry Sternlicht’s Starwood Capital and Chamath Palihapitiya of Social Capital and Ackman is no stranger to these deals.



Pershing Square notably formed a blank check company called Justice Holdings and in 2012 bought a large stake in Burger King, taking the restaurant public. The deal, in partnership with private equity giant 3G capital, turned into a massive windfall for Ackman and Pershing Square. Ackman personally owns about $250 million in shares of Burger King’s parent company and it’s been one of Pershing Square’s more successful investments. Pershing Square also invested in Nomad Foods and Platform Specialty Products, which were blank check companies, but didn’t turn out as successful.



The prospective new deal is one to watch.



Private equity firms are sitting on massive portfolios of businesses that may need new capital to manage through the pandemic, and may find appeal in quickly tapping public stock markets. Moreover, Pershing Square’s current portfolio is indexed heavily to restaurants, retailers and hoteliers, but Ackman’s done much less investing in some of the hotter corners of the stock market, like information technology and software. Pershing Square recently built a large position in healthcare software provider Agilent, and Ackman’s long been a fan of Ceridian, a maker of software for payroll.



Ackman’s Pershing Square is enjoying a renaissance after the firm battled through a $4 billion-plus loss on controversial Valeant Pharmaceuticals. The firm refocused on its areas of specialty, succeeding on investments like Nike, Starbucks, Hilton and Chipotle and has seen a major payoff. Last year was the best on record for Pershing Square and his fund is significantly outperforming peers and broader stock markets in 2020. Assets firmwide recently eclipsed $10 billion, about half of their peak, with most housed in a publicly traded permanent capital vehicle called Pershing Square Holdings.



Now, Ackman is raising new capital to hunt for new deals in markets ripe with opportunity.



&#8211; <a href="https://www.forbes.com/sites/antoinegara/">Antoine Gara</a>, Forbes Staff, <a href="https://www.forbes.com/banking-insurance">Banking &amp; Insurance</a>

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Billionaire Bill Ackman Plots His Next Deal

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Author: Forbes

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