BUST: ‘Chinese Elon Musk’ files for bankruptcy

Jia Yueting, who has been called “the Chinese Elon Musk,” filed for chapter 11 bankruptcy in the U.S., seeking protection from banks and other creditors that are owed as much as $3.6 billion.

A major investor in electric vehicle maker Faraday & Future Inc., Mr. Jia filed for bankruptcy Monday with a plan to set up a creditor trust and relinquish his equity in Faraday owner Smart King Ltd. to help repay his debts.

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www.wsj.com/articles/chinese-tech-mogul-jia-yueting-files-for-bankruptcy-in-u-s-11571080535