Paul Allen (Microsoft) has lost $12B over the past 5yrs

[JEDI]

LINK

"In the last five years, the "other" Microsoft Corp. (MSFT ) co-founder has squandered more than a third of his fortune, which peaked at an estimated $30 billion, buying chunks of tech and media companies in pursuit of his vision of a "Wired World." His idea was that as the Internet, cable TV, and entertainment were converging, the technologies propelling the trend would become gold mines. But the strategy crashed along with the tech boom, its demise compounded by Allen's missteps.

Often, he paid wild prices for harebrained schemes. Other times he bought too soon. Frequently, he was just an investor and not the sole owner of many of the key companies that were in his empire. As a result, some top executives balked at deals that might have delivered the synergies that Wired World needed because they ran counter to the interests of their own shareholders."

how could you spend $12B and not OWN the stuff? i would have made sure i owned at least 51% of the company. that way i control everything. ie: this is the plan i have. if you dont like it, tough.

DISCUSS $12B

 

[StrangerGuy]

Billionaires have twisted thinking.

 

[mugs]

Well, he has a little room to take chances like that... not like he's going to be in the poor house with the billions he still has. 🙂

 

[Vic]

At his tax bracket, write-offs are a MUST.

 

[Sphexi]

It's over 10 years, and he's #6, not #3.

 

[mugs]

Originally posted by: Vic
At his tax bracket, write-offs are a MUST.

😕 Not sure what you're getting at... he didn't benefit from losing $12 billion.

 

[Polish3d]

edit

 

[0roo0roo]

success sometimes breeds arrogance. esp when they don't realize how much luck was involved in their good fortune, and where their expertise ends. and so u got enron type things going into areas they have no business in

 

[Vic]

Originally posted by: mugs

Originally posted by: Vic
At his tax bracket, write-offs are a MUST.

😕 Not sure what you're getting at... he didn't benefit from losing $12 billion.

It was sarcasm. He didn't really lose anything either. Oh, I'm sure he'd like to see Paul Allen, Inc. perform better, but I doubt this has crimped his lifestyle. Last I checked, he still owns the world's biggest luxury yacht.

You see, using those Fortune richest people figures to calculate actual dollar amount wealth is like saying that Google is really worth its market cap of $99.75 billion. It's not and he's not. If Paul Allen holdings were sold down to the last share, they wouldn't sell at today's prices merely due to the act of liquidating them. It's not like your savings account or 401k.

 

[Armitage]

Wish he'd lose just 0.1% of that in my direction 😛

 

[MidasKnight]

You would think anyone with big time $$'s would be able to take care of his teeth ..



Pic of grossness !

 

[drum]

Paul allen?

I have to go return some video tapes...

 

[0roo0roo]

Originally posted by: MidasKnight
You would think anyone with big time $$'s would be able to take care of his teeth ..



Pic of grossness !

he probably wears retainers soaked in starbucks or something.

 

[preslove]

As I said in the Trailblazers thread, Bill Gates was the one with the business saavy. Paul Allen was just his friend from highschool with family money ready to invest in their new company. Allen made very few of the big decisions, and was removed from any decision making position pretty early in Microsoft's history. He was just really lucky to befriend a rat bastard (or grand saint) and have family $. And be a good programmer.