Jia Yueting was once one of the richest people in China. The architect of a sprawling collection of companies that streamed video and made smart TVs, cellphones and electric cars, he was sometimes called the Chinese Steve Jobs. But as the stock of his main Chinese company began to fall, his borrowing ballooned, and political intrigue enveloped him, Jia pivoted toward the United States. In 2014, he secretly started an American company, Faraday Future, that aimed to build the most Internet-connected electric vehicle on the planet. Six years later, Faraday has blown through billions, hasn’t sold a single car and has faced near-death moments. Jia, who has defied orders to return to China, filed for personal bankruptcy last year owing $3.7 billion to his creditors. See the timeline below for selected moments in his career.
Credit: Faraday Future promotional materials
April 2014
Jia Yueting travels to the U.S. to found Faraday Future.
Credit: CCTV
June 2014
Ling Jihua, a high ranking Communist Party official is arrested. His brother was an early investor in Jia’s company Leshi.
Credit: Jiang Xiaoming/Color China Photo/AP Images
August 2014
Jia detained in China in connection with the Ling Jihua case, and later released, according to his staff.
Credit: Google Earth
November 2015
Faraday pledges to spend $1 billion on Nevada plant. The deal would be called off a year later.
Credit: South China Morning Post/Getty Images
January 2017
Sunac agrees to pay $2.2 billion for stake in Jia’s firm Leshi.
Credit: Axel Gaodd, Creative Commons
April 2017
Leshi shares halted from trading on the Shenzhen Stock Exchange.
Credit: CRCHF, Creative Commons
December 2017
China Evergrande Group agrees to pay $2 billion for a 45% stake in Faraday Future; China’s stock market regulator orders Jia to return to China to deal with debt.
Credit: Sunac
March 2018
Sun Hongbin, head of Sunac and chairman of LeEco, resigns as chairman.
October 2019
Jia Yueting files for personal bankruptcy in the U.S.
