Core Viewpoint - The article discusses the rise and fall of Shi Yongxin, the abbot of Shaolin Temple, who amassed a fortune of $150 billion through commercial ventures but is now facing criminal charges for economic crimes [1][8]. Group 1: Background and Rise - Shi Yongxin, originally Liu Yingcheng, became the abbot of Shaolin Temple in 1999 and transformed it from a dilapidated site into a commercial empire [2][3]. - He founded the Shaolin Martial Arts Team in 1987 and established Shaolin Industrial Development Co., the first commercial entity in Chinese Buddhism, in 1996 [3][5]. - Under his leadership, Shaolin Temple registered the "Shaolin" trademark in 2006, expanding into various sectors including food, medicine, and entertainment [3][5]. Group 2: Business Expansion - Shi Yongxin's business ventures included purchasing 18,000 acres in Australia for an "Overseas Shaolin" project and opening a branch in Berlin, Germany [5]. - The Shaolin brand's global licensing generated substantial revenue, with over 2,000 companies licensed to use the brand, yielding annual fees in the tens of billions [5][8]. - The introduction of online courses and NFTs during the COVID-19 pandemic further boosted revenue, with a single digital Buddha statue selling for $1 million [5][8]. Group 3: Lifestyle and Wealth - Shi Yongxin's lifestyle became increasingly extravagant, owning 28 luxury properties, including a $380 million penthouse in Manhattan, and a fleet of 12 Rolls-Royce cars [6][8]. - His personal spending reportedly exceeded $10 million per month, contrasting sharply with the meager salaries of ordinary monks [8][11]. Group 4: Legal Issues and Consequences - In early 2025, an audit revealed significant financial irregularities, including tax evasion exceeding $30 billion and misappropriation of charitable funds [8][9]. - Shi Yongxin was arrested in March 2025, and in June, he was sentenced to life imprisonment for embezzlement and tax fraud, with his assets confiscated [11][13]. - Following his arrest, Shaolin Temple underwent restructuring, with a commitment to return to its spiritual roots and reduce commercial activities [11][13].