On March 3, in a luxury hotel's private conference room, more than forty people were seated.
They were heads of financial firms, commercial banks, insurance companies, trust funds, and asset management companies from Wall Street. These were individuals who had expressed interest in American Realty Group during prior rounds of inquiries.
Today marked the first roadshow for American Realty Group.
The CFO of American International Group pointed at the projection screen and the equipment behind it and said:
"Not bad for a company founded by a young man—lots of style."
Before anyone else could respond, the lights suddenly went out, plunging the room into darkness. At that moment, prepared staff instantly turned on the slide projector.
As the first slide appeared, everyone adjusted their relaxed posture and fixed their gaze on the screen with interest.
The reason for their reaction was obvious: unlike the straightforward, simple slides they were used to, these slides were visually stunning. The combination of the words "American Realty" and the accompanying abbreviation was pleasing to the eye.
As the audience admired the slides, Leo, hair slicked back and dressed similarly to the old-school crowd below, energetically stepped onto the stage.
Aesthetics evolve with each era, and Leo had clearly made an effort to appeal to their tastes. Seeing the approval in the eyes of these potential underwriters, he knew he had made the right choice.
"Gentlemen, I trust you're already familiar with American Realty's data from the previous rounds of inquiries. Repeating what you already know would be meaningless.
You are probably aware that I recently hosted the American Realty Summit, attended by the esteemed Fed Chairman, Mr. McKay. At the closing remarks, one of my statements received thunderous applause from the audience: that in the next five years, brand will reign supreme in the market for ordinary customers.
So today, I will explain in detail how American Realty will become the king of kings in the next five years.
Why brand supremacy? When an ordinary person buys a home—the largest expense of their life—they must consider many factors: structural safety, material quality, layout, and location.
But if we build a brand, everyone in America looking to buy a home will know that choosing American Realty means choosing a high-quality home in a prime location.
To achieve this, in addition to hard, tangible assets, we must also cultivate an intangible, soft culture.
For example, the standardized naming format for all future American Realty properties, personally designed by Cubist master Picasso.
As the slides progressed, Leo introduced the subconscious marketing strategies shaped by media psychology, detailing everything from company fonts, promotional posters, project environmental design, to interior layouts.
Leo carefully presented the full branding plan for American Realty, inventing new words and combining ordinary terms to create unique, catchy, and sophisticated concepts. The experienced underwriters nodded and applauded repeatedly.
"In short, the goal is to make people who aren't looking to buy a home want to take a look, then want to buy, and eventually only want homes from American Realty."
After the roadshow, the CFO of American International Group and executives from Lincoln Financial Group, both giants in American insurance, walked out together.
"Sounds impressive, but can it really be done?" the CFO asked.
"Someone who built a billion-dollar fortune in two years—what could be more convincing? And don't forget the summit. This project doesn't even need a roadshow; who would pass up such a high-quality investment?"
In Los Angeles, Merlin Realty and Jesse Realty competed fiercely to cooperate. You bring in Wells Fargo, I bring in Bank of America. Compared to the East Coast's subtle elegance, the West Coast's enthusiasm under the scorching sun was uninhibited.
Leo barely got a word out before everyone insisted on joining. The roadshow's abrupt pace left him amused. Yet the straightforwardness, sincerity, and California sunshine made the experience very pleasant.
During the dinner after the roadshow, the lively atmosphere quieted down with the arrival of an elderly man in a wheelchair. Though his health seemed frail, his eyes remained bright and focused on Leo.
Merlin, a local Californian, quickly introduced him:
"This is a legendary entrepreneur of California, a man who survived Morgan's attacks unscathed. An Italian named Armani Pietro Giannini, founder and chairman of Bank of America, a man who wields immense influence in California."
Leo's fellow countryman could barely raise his voice. Beside him was presumably his daughter, resembling the famous Hollywood actress Kate Beckinsale. She bent elegantly, her fitted gown tracing a perfect curve along her figure.
After listening to her father, she stood and said to Leo:
"My father wishes to speak with you privately."
In the meeting room, Leo sat beside Giannini.
"My family has few talented individuals; my daughter is half of that. She can sustain the family legacy but can hardly expand Italian influence in the West. Especially with the Jews, who are at their peak discontent over my control of the West's largest bank.
When I thought heaven would never grant Italians an opportunity, you appeared. Young, ambitious, clever, and most importantly, cautious—just like I was at your age. Eastern Italians always spoke of you respectfully, and young people look up to you as a role model.
I won't speak much, so let's be direct. Unlike others outside, who only want to underwrite your shares to profit, I want to exchange shares with you."
His daughter, Creya Giannini, immediately stood up in displeasure:
"I don't agree, Father."
Leo, realizing he must protect his 25% stake to remain chairman, remained calm. He would not sell, not even swap shares.
"I don't understand banking; real estate alone keeps me busy enough," Leo replied.
Giannini looked at his daughter and half-jokingly said:
"Why worry? I just wanted to make an offer; it's not like I'll force it."
Despite his casual tone, the intensity in his eyes made Creya collapse onto the sofa.
Leo was secretly impressed by Giannini's imposing aura—far stronger than McKay's.
"Let me reintroduce myself. I'm one of the founders of the California consortium and the biggest financier behind Italian-American politicians nationwide. I have resources you can't imagine. I'm not interested in making American Realty a target; what really attracts me is your stake in James River Asset Management."
Leo's heart skipped a beat. James River was indeed an important part of his backup plan. He hadn't expected this seemingly aged man to see through his strategy.
"Mr. Giannini, you must be joking. Bank of America alone has $2 billion in assets, with savings and managed assets surpassing $10 billion. My James River company is only $500 million, with $400 million my own funds. Swapping shares would make your bank the huge bait, while my small company would have to reinvent itself," Leo said.
"1:1," Giannini said.
Creya, still shocked by her father, stood up again in disbelief. A $2 billion company for a $500 million one—how could this be justified?
Leo was equally stunned. Could Ricardo really not be his biological father? Was there a dramatic backstory in his past life?
"Mr. Giannini, isn't that too much?" Leo asked, though he felt excitement surge. After all his struggle in America, an equal exchange was already rare, let alone such an unexpected windfall.
"You misunderstand. The 1:1 applies when James River reaches a $2 billion valuation. With your ability, that day won't be far. Unfortunately, I won't live to see it. To secure a future for my descendants without bowing to the Jews, and to protect an Italian-owned bank, I wish to sign this contract while I'm alive. Trust me, Leo, you will need a bank."
On the plane to Chicago, Leo looked at the contract in disbelief. He had even purchased a high-grade, lockable briefcase for it. A bank is the heart of a consortium, and this contract was vital.
Though Chicago was next, Leo left it to Austin, knowing the local power dynamics were tricky, and instead flew to Philadelphia.
The roadshows in both cities proceeded smoothly. After New York and Los Angeles, many knew Leo was giving a masterclass in roadshows.
Smaller investors came to observe, while underwriting expectations soared. Sydney commented that the stock issue wasn't the problem—the problem was that demand exceeded supply.
The frenzy was fueled not only by the summit and Leo's branding but also by American Realty's solid performance.
The Virginia Times and Washington Post, both supported by Leo, ran daily updates on the company's projects.
During the roadshow, every sector of American Realty drew envy:
Public construction: two Ohio Air Force bases, Virginia's highway mid-term audit completed early with $600 million pending payment, seven New Jersey civil airports, three interstates in D.C., etc.
New airport projects across states: 131, including 42 in the traditional territory of Iron Lion.
Civil construction: American Realty dominated the Southeast.
Gulf Company, a shareholder, found Miami residents now preferred American Realty over their properties, prompting them to sell shares to gain more equity.
Austin's revenge campaign left Pennsylvania in ruins, with Iron Lion unable to compete.
In Q1 1948, American Realty launched 230 suburban community projects across the East, demonstrating absolute dominance.
With Austin joining the roadshow team, American Realty's CFO Daniel's office was swamped by bankers waving loan documents, all seeking his signature. Many called Leo directly with favors owed.
Rumors about Leo and Truman—namely, that Leo would die if Truman lost—gradually dissipated.
Here's the scale: 10 million shares issued, representing 10% of the company at $37 per share, valuing the company at $3.7 billion. Leo's 25% stake skyrocketed his net worth; combined with $500 million in cash, his total assets reached $1.425 billion.
In Philadelphia, Grace Kelly sat in a Lincoln, regretting the previous wild night and vowing never to see Leo again. Yet, Leo's driver told her:
"Leo wants to see you."
Unable to resist, she got in the car. Leo handed her the key to a 17th-century colonial estate worth $8 million, the most expensive tradeable property in Philadelphia. Both were thrilled that night. Stripped of pretense, money and power remained the ultimate aphrodisiac.
Meanwhile in Washington, James hummed as he left former VP Wallace's home. After losing to Leo again, he shifted strategy to undermine Truman, aiming for a two-bird strategy. Today's progress was significant.
Returning home in high spirits, James' expression darkened as he answered a ringing phone.
On the line was Citibank Chairman Walter, gravely stating:
"The kid's net worth has exceeded $1 billion. He's officially among America's top tycoons. Do you know what that means? We can no longer eliminate him through Truman's defeat."
James frowned but quickly recovered.
"Don't despair, Walter. Money scares you. Most wealth is illusory. Even in three years, a young man's network isn't solid enough. The more he earns, the more enemies he makes. Those plotting retaliation wait for a connector and a general attack.
Truman losing is still our best chance to defeat him. We may not crush him entirely, but we can force him out of America. Walter, don't cling to power. Contact your true master, Steilman. We must monitor Truman constantly. His chief of staff must become ours."