Faraday Future CEO’s long trail of debt is finally catching up to him



Jia Yueting, the CEO and a co-founder of troubled EV startup Faraday Future, has a notorious history with money. While his rise to fame and fortune in China was built partly around his vision — he started a streaming company in 2004 called LeTV, well before Netflix shifted away from DVDs — it was also built on financial debt. For years, he followed a relatively simple formula. He found success with LeTV, borrowed against that success to try new things under the umbrella of “LeEco,â€� then borrowed against those ventures to do even more, stacking up debt along the way. With China’s economy booming at the time, and a large shadow banking system emerging that made borrowing easy, he was off to the races.

More than a decade later, Jia finds h…

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