The good news was that Jiang Hai's request to expand his maritime territory had been approved by the state. The bad news? It wouldn't come cheap.
To be fair, there was no such thing as private fisheries in the seas off Winthrop. Unlike China, where fish farms raise stock in enclosed waters that are clearly owned, and anyone trespassing or poaching would be held accountable, the situation overseas was quite different. Most fisheries abroad rely on wild stock—what you catch is yours, and what others catch is theirs. Ownership only becomes exclusive if someone owns an island or has legally purchased rights to a specific stretch of water.
Jiang Hai's existing fishing zone had come with the manor when he first bought the land. But now, that area had become far more valuable.
Since he was interested in purchasing more sea territory, Massachusetts had no reason to refuse. Selling the sea was the good news. The terms of the sale? A little more complicated.
Rather than defining the sale by square kilometers, acres, or nautical miles, the state had designated a large swath of ocean just beyond Jiang Hai's current territory—essentially extending his existing boundary. When mapped out, the area added up to nearly 20,000 square kilometers.
That was no small area. In fact, it was larger than the metropolitan area of Beijing. The new zone stretched almost 200 kilometers wide and nearly 100 kilometers deep.
With Jiang Hai's boat capable of a top speed of 24 knots—about 44.5 km/h—it would take him over an hour just to cross his current territory at full throttle. To reach the edge of this newly designated area would take nearly three hours. And that was just in a straight line. For full patrol coverage, it would be far more demanding.
Thinking about it gave him a headache.
"It's actually not that bad," Mayor Wallis offered, sensing Jiang Hai's hesitation. "If you've got the money, it's worth trying. Part of this new area overlaps with Cape Cod's tuna migration path—both bluefin and yellowfin. That alone makes it a prime zone."
Originally, Jiang Hai had only intended to buy an additional 5,000 square kilometers—just a buffer around his current holdings. But the state had drawn the borders far more generously, tripling the size. The development costs alone would be staggering.
"So, how much are they asking for?" Jiang Hai asked, rubbing his forehead. "And how will they protect my property rights?"
"The state understands how difficult it is for one person to purchase such a large area," Wallis replied. "They're willing to sell it for $10,000 per square kilometer—as a one-time payment. But if you pay in full, they're offering some serious benefits: a three-year exemption from all state fishery taxes, no sales tax on fish sales or boat purchases, interest-free loans for fish fry and seaweed investment, and they'll return 5% of your purchase as a subsidy. Plus, they'll establish a Coast Guard outpost nearby to patrol your waters."
Jiang Hai's eyes lit up.
At first glance, $10,000 per square kilometer seemed steep—especially for sea territory. In places like the Gulf of Mexico, similar areas might go for just $1,000 to $3,000. But for Massachusetts, this was a deal.
Still, 20,000 square kilometers at $10,000 each meant $200 million upfront—a huge sum, even for Jiang Hai.
But what truly grabbed his attention were the incentives. The 5% rebate didn't matter much, but the Coast Guard protection and tax exemptions were incredibly appealing.
Sure, the state couldn't reduce the federal tax rate (still at 37%), but the 5% saved on state tax alone was significant. Jiang Hai's fishery revenue was already projected to exceed $2 billion this year. That 5% exemption meant he would save $100 million annually. Over three years, that was $300 million saved, making his $200 million investment well worth it.
And once he developed the area—planting seaweed, stocking fish fry—his profits would only grow. If revenue doubled to $4 billion, he'd save $200 million in taxes. At $6 billion, that's a $300 million savings. His mind raced with possibilities.
This "bad news" was starting to look like a gold mine.
Without hesitation, he called Moses Adams. "We're locking this deal in tomorrow."
"You're serious about buying it? That's 20,000 square kilometers!" Mayor Wallis was stunned. The cost of development alone could run another $200 million. Jiang Hai still agreed?
"We have an old saying: 'You can't catch a wolf without sacrificing a lamb,'" Jiang Hai said with a grin. "I know what I'm doing."
Wallis nodded. "Alright, then let's move on to the actual bad news."
He didn't try to stop Jiang Hai. After all, the man clearly knew the value of what he was doing. People had laughed when Jiang Hai bought the manor for $300 million. Now those same people were eating their words—he was making over a billion dollars a year.
If Jiang Hai could buy a vast sea territory for $200 million and turn it into another billion-dollar venture—who could argue with that?
"I've spoken to the families about the nearby land," Wallis said cautiously. "To be honest, none of them seem eager to sell. Winthrop is developing rapidly. Even if the land isn't profitable yet, they expect it will be. On top of that… it seems another buyer is trying to acquire those plots."
Jiang Hai frowned. "Another buyer? Who?"
He hadn't been too concerned about the families. Most estate owners just wanted fair compensation. In the U.S., inheritance tax is notoriously high, and most people carry heavy mortgages. After a death, their heirs often couldn't afford to keep the estate and debts.
Jiang Hai figured that offering 20% above market value would be more than enough. Buying all those connected plots might cost just over $50 million, and the combined land area would be more than three times the size of his own estate. Just planting grass there could net him billions per year. Even at 10% above market value, it was still a great deal.
But a competing bidder was unexpected.
"Who's the buyer?" Jiang Hai pressed.
Wallis hesitated. "It's the Carlett Corporation."
Hearing that name, Jiang Hai immediately recalled what Gladstone Narga had said a few days earlier: the Carlett Company had teamed up with a Japanese firm and was planning to cause trouble. So this was it—they were setting up shop right next to him.
But Jiang Hai didn't fear competition. Let them come.
"Tomorrow, we sign the contract for the sea. Then I'll go visit the families myself," Jiang Hai said firmly.
Wallis didn't object. This was Jiang Hai's business, and he clearly had it under control.
The next morning, Jiang Hai and Wallis headed to Boston. Moses Adams, having been briefed, arrived early to join them.
The Massachusetts state government wasn't all that different from local governments elsewhere—except for one key difference: in the West, the government is more humble. Even a billionaire like Jiang Hai, who might need to beg and bow in China, was treated with respect here.
Jiang Hai met directly with the head of the Massachusetts Land Bureau. After a detailed negotiation, Moses Adams stepped in to finalize the legal aspects.
Thanks to his skill, Moses not only secured the three-year tax exemption but even managed to increase the fry and seaweed subsidy from 5% to 8%. It wasn't much, but every little bit helped.
With everything in place, Jiang Hai signed the contract and transferred $200 million to the state's bank.
Just like that, a vast sea territory became Jiang Hai's private maritime domain.
To celebrate the massive deal, Jiang Hai treated Moses Adams and Mayor Wallis to a meal before returning to Winthrop.
After dropping off Wallis, he began to think. He'd be heading to Europe soon. If he returned only to find the Carlett Corporation had secured the land next door, it would feel like swallowing a fly.
The problem was, he didn't have particularly close relationships with most of the neighboring landowners.
The only ones he had a solid rapport with were the Georges—he had bought horses from Old George, and… well, he was also somewhat close to Old George's daughter.
After some consideration, Jiang Hai decided to visit the George family first. With their history, he doubted they'd sell him out.
He fired up his car and drove straight to Bob George's ranch.
As soon as he arrived, he spotted Delia George emerging from the house. The moment she recognized his car, a flicker of surprise flashed in her eyes. She ran over and leaned against the car window to peer inside with a playful smile.
(To be continued.)