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I wonder if he invested 80% of his assets or if the startups he's invested in (like Uber) rose in valuation so that they became that valuable.
by mevile 10y ago
I wonder if he invested 80% of his assets or if the startups he's invested in (like Uber) rose in valuation so that they became that valuable.
- paulsutter 10y agoThe latter, it's due to unrealized gains. Early investments in Uber are up something like 10,000x. That's such a large gain that only a super wealthy person could have 20% of that in liquid assets. He probably has much more than 80% tied up in unrealized paper gains. And those gains are dominated by Uber.
- swalsh 10y agoSeems very likely, and since they're illiquid startups, it's probably hard to rebalance the portfolio.