Chapter 596 - 278: If You Want to Challenge a Giant Dragon

This completely violated the principles of a free market, but it was precisely the kind of moat she craved.

"As for the price hikes you mentioned..."

Leo smiled.

"You won’t."

"Why?" Evelyn asked.

"Turn to the last page of the proposal," Leo said.

Evelyn complied and turned to the last page of the document.

Under the equity structure section, she saw a clause that made her pupils contract.

[Equity Allocation]

The Saint Claude Family Fund: 49% (Responsible for operations and capital injection)

Pittsburgh Urban Renewal Public Trust: 51% (Holds veto power)

"This is a freak of a company."

Leo explained.

"You put up the capital and the staff. You manage the operations. You take all the business dividends."

"However, control of the company—the majority of the seats on the board of directors—belongs to the public."

"It belongs to me."

Leo’s eyes turned cold.

"This is state capitalism."

"I’m giving you the market to go make money, but I’m the one holding the remote control."

"If you dare to arbitrarily raise prices or try any funny business behind my back..."

"I can exercise my veto power at any time, dissolve the board of directors, or even directly confiscate your franchise rights."

"We’re splitting the world between us, Evelyn."

"You take the profits, and I take the power."

"Perfectly fair, isn’t it?"

Evelyn stared at the equity structure diagram.

’Mr. President,’ Leo thought. ’Is this going to work?’

"It will."

Roosevelt replied.

"This is the same logic I used to establish the Tennessee Valley Authority back in the day."

"The government can’t go into business directly because it’s too inefficient. Capitalists can’t be allowed to completely control the people’s welfare because their greed is insatiable."

"So, I created this hybrid."

"Using the efficiency of capital to serve the objectives of the government."

"And using the power of the government to guarantee capital’s returns."

"It is a perfect deal."

"She’ll agree."

"Because for a capitalist, there are no two words more alluring than ’statutory monopoly.’"

As expected, Evelyn closed the file.

She looked up at Leo, her eyes alight with the thrill of having brokered some grand conspiracy.

In truth, she didn’t care about the 51% controlling stake.

As long as she could monopolize the market, push out her competitors, and hold the exclusive pharmaceutical procurement rights for Pennsylvania, even 49% of the profits would be enough to take the Saint Claude Family’s wealth to the next level.

More importantly, she needed this.

With that fool William’s unexpected rise to the governorship, the Saint Claude Family’s influence in Pennsylvania had reached its peak.

But Evelyn knew better than anyone that this influence was illusory, a castle in the air built upon that series of mad schemes by Leo Wallace.

William had no base in Harrisburg; he was just a figurehead pushed to the forefront by various factions.

The Saint Claude Family desperately needed an instrument to convert this false political prestige into tangible economic power.

This pharmacy benefit management company was the key.

It wouldn’t just bring in a massive cash flow; it would allow the family’s tentacles to reach into every community and every household in Pennsylvania.

Administrative power alone was not enough. True dominion was only achieved when administrative power and economic power were combined.

Even if this power would be subject to Leo Wallace’s regulation.

But for a true capitalist, bargaining with a tiger for its hide was a basic skill, and burning the bridge after crossing it was just business as usual.

As long as she got the prize in her hands first, there would be plenty of chances later to turn that tiger into a throw rug.

Furthermore, with this quasi-state-owned status, she would have a shield against federal antitrust investigations.

It was a protective talisman.

"Leo."

Evelyn looked at Leo.

"You’re incredibly audacious. If you wanted to profit from this yourself, you could make a great deal of money."

"I’m not interested in money," Leo said calmly. "Even if I could dictate the stock market’s every move, it would still be meaningless."

"I have my ideals, and they exist in a realm that money cannot help me achieve."

Evelyn watched Leo.

She had seen too many greedy faces in her elite circles. Even when they wore the most expensive suits, they all reeked of the stench of rotting money.

Leo’s tone was placid, but it was a placidity that belied a fanaticism she found alien.

She was shaken.

This pure will, untainted by material desire, made her feel an unprecedented sense of pressure.

She was used to measuring a person’s depth with money, accustomed to trading interests for loyalty.

But at this moment, she realized the money in her hands was weightless in front of this young man.

For the first time, she understood the destructive potential of the species known as ’the idealist.’

These people didn’t care about balance sheets. They only cared about the future that they alone could see.

The world always changed at the hands of madmen like him.

They demolish old structures, establish new rules, and do not hesitate to burn themselves to ashes in the process.

This kind of pure ambition was far more destructive than mere greed.

Evelyn felt her throat go dry.

"Very well."

Evelyn extended her hand.

"To Penn-PBM."

"To monopoly."

"To our Pennsylvania."

Leo took her hand as well.

"A pleasure doing business with you."

Evelyn let go of his hand and turned toward the dressing room.

"Now, get out of my house. I’m going to take a bath."

Leo chuckled, then turned and left.

The sun was perfect as he walked out of the estate gate.