So, You Think YOU'VE Lost A Lot Of Money??

[ABM]

OK, how about losing 65% of your estate in the last 12 months?

From: Forbes

Paul Allen
$10.5 billion
Microsoft/U.S.
56. Single

Microsoft co-founder has lost 65% of his fortune in the last 12 months. Washington State dropout founded software giant with buddy Bill Gates in 1975; left in 1983 after Hodgkin's disease diagnosis. Sold off much of his stake to lose huge sums on far-off visions through holding company Vulcan. Microsoft now makes up 25% of his net worth; shares down 40% since September. Also lost big on investment in Charter Communications; cable outfit announced financial restructuring plan in February; Chapter 11 filing expected by April. Dabbles in odd tech projects; funding research to scan outer space for signs of intelligent alien life, as well as Allen Institute for Brain Science, which is creating a genetic map of the mouse brain. Guitar fanatic owns a rock 'n' roll museum, Jimi Hendrix artifacts. This spring kicks off inaugural season of his Major League Soccer club Seattle Sounders FC; also owns football's Seattle Seahawks and basketball's Portland Trailblazers.

 

[maxiep]

Not trading RLEC suddenly makes more sense.

 

[AgentDrazenPetrovic]

He invests in fringe technologies which are more passion projects than anything else.

 

[Nate Dogg]

No wonder why hes been sick. Hes been stressed.

 

[maxiep]

PA doesn't have any heirs, so he can spend the money on himself. Charter was a massive bet on convergence. Unfortunately for him, it was like those that bet on failed railroads in the 19th Century--he built a ton of infrastructure, but it's going to be purchased by the winner (Comcast) for pennies on the dollar.

 

[The_Lillard_King]

Well that's not good news. The Blazer talk has been how the Blazers are going to take advantage of this down economy and the impact it is having on other owners while our owner can absorb the down economy and still dish out cash.

Maybe not . . .