How to spend 2 Billion in 5 years

[alreadypacked]

How was he smart enough to make 2 Billion, stupid enought to blow it in 5 years

I can understand Lotto winners blowing their money, but if you have earned it, I thought you would be more carefull.

Another tech guy with a model girlfriend, fit right in here.

Hundreds of millions gone! Dotcom pioneer blows fortune on extravagant mansions, failed hotels, and fine art | Mail Online

[BlasterBates]

When I add up all the losses listed in the article they come to less than 100 mill so what happened to the other 1900 mill.

[centurian]

When I add up all the losses listed in the article they come to less than 100 mill so what happened to the other 1900 mill.

It was a paper loss - he thought his house was worth that much - he read the Daily Mail

[Scrag Meister]

When I add up all the losses listed in the article they come to less than 100 mill so what happened to the other 1900 mill.

My thought exactly.

[bless 'em all]

From reading through I don't think it's a case of his losing $2 billion - but rather the fact that he doesn't appear to actually pay any of his debts.

If he has managed to p**s away that much money in such a short amout of time then he is a knob of the highest calibre.

[Mich the Tester]

From reading through I don't think it's a case of his losing $2 billion - but rather the fact that he doesn't appear to actually pay any of his debts.

Yep, looks like cash flow problems in some of his sillier business ventures led to the debts compounding and court cases. He's a geek; perhaps he thought he could employ the unfortunately rather common IT startup practise of not bothering to pay creditors until they're desperate enough to strike a deal, but in other industries like property and hotels where there are bigger fish with bigger teeth than small IT contractors.

As it says, and these might be the most sensible words I've ever seen in the Wail;

He began investing in things outside his realm of expertise, a decision that prove to be his downfall.

[DimPrawn]

His bird is fit mind.

That's my take on the story.

[SimonMac]

I would assume most of the $1bn was only paper money, the value of stock in his company rather than actual cash in his bank.