It is later revealed that Wang Yu was formerly a disciple of the Yellow Maple Sect, and entered the sect alongside Li Huayuan and Hong Fu. Back then, they promised they'd support each other. However, Wang Yu was forced to stop cultivating at the Foundation Establishment stage, since he couldn't afford the elixirs. In a fit of rage, he entered the business sector and founded the Myriad Treasures Store. When he first started his business, all of his former sect brothers helped fund his business. Back then he said: "Benefiting fellow cultivators comes first, making profits comes next."[1][2]