Jacky Wu needs cash, lots of cash!

Local King Jacky Wu is rumored to be in financial trouble after a former employee from his LED company, Alpha Photonitek Corporation, revealed they were only paid half of their salaries. Jacky Wu has denied the company was in trouble in the past, but at the recording of Super King on Friday, he said “Funding has been a problem since last year, the manager at our bank even said they will loan us money when we have cash. Worst comes to worst, I can sell off my Yi-Tsui Villa mansion, it’s no big deal!” He reportedly asked Master Real Estate to put his house on the market for NT$480,000,000 (approximately 15 million USD.)

Master Real Estate manager Chen Jian Qing said there are in fact 2 buildings at the location. The main house is occupied by Jacky Wu and his wife, while the secondary is occupied by his parents. It is the only “castle-like” mansion in the neighborhood, and its surface area is so big that walkie-talkies are needed for communication. Chen said Jacky Wu has strong emotional ties to his real estate investments. He purchased the mansion for a very high price 8 years ago, and wouldn’t sell it for 500 or even 800 million (NTD) if he wasn’t in need of money.

Jacky Wu looked tired at Friday's recording with dark eye circles and gray side burns. He denied asking Jay Chou for financial help, “Jay is someone with a sense of honor, he has helped me enough already, although I’m the one who introduced him to showbiz, he still looks after my people even now.” He joked, “I always talk about Jay Chou and Patty Hou.”

Jacky Wu also sent a message to the former employee who leaked the news to the media, “Some staff members came back to help over the last 2 days, my tears couldn’t help but came down. There will be new equipment coming in, so 2 to 3 employees might be rehired again. Although the company doesn’t make a lot of money, there will still be a year-end bonus.” He said there was no need for the former employee to hurt the company the way he did.

In order to improve his cash flow, Jacky Wu plans to sell off his current residence and other investments, which should add up to approximately 1 billion NTD (31 million USD). He said his wife wants to accompany their son as he will be attending junior high in a different area, so they are looking for a new home nearby his school anyway. The Local King currently has three variety shows on TV including Azio Superstar, Super King and Power Sunday.  He is estimated to earn 7 million NTD (US$219,000) each month.

Source: Appledaily

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