How to spend 2 Billion in 5 years

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SimonMac replied

31 May 2013, 08:55
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.
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DimPrawn replied

31 May 2013, 08:44
His bird is fit mind.

That's my take on the story.
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Mich the Tester replied

31 May 2013, 08:10
Originally posted by bless 'em all View Post

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.

Last edited by Mich the Tester; 31 May 2013, 08:14.
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bless 'em all replied

31 May 2013, 08:06
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.
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Scrag Meister replied

31 May 2013, 08:04
Originally posted by BlasterBates View Post

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.
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centurian replied

31 May 2013, 08:02
Originally posted by BlasterBates View Post

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
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BlasterBates replied

31 May 2013, 07:56
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.
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alreadypacked started a topic How to spend 2 Billion in 5 years

31 May 2013, 07:36
How to spend 2 Billion in 5 years

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
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