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Chinese billionaire cuts salary to one yuan amid cash crunch

LeEco chairman admits his technology empire is running out of cash to sustain headlong rush into other businesses

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Mr Jia has apologised to shareholders and has pledged to slash his income to one yuan, slow LeEco's madcap pace of expansion, and move the company towards a more moderate phase of growth.

Hong Kong

THE billionaire chairman of China's LeEco has admitted that his technology empire is running out of cash to sustain a headlong rush into businesses from electric cars to smartphones.

In a lengthy letter to employees, company co-founder Jia Yueting apologised to

sentifi.com

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