3 ms·
There comes a point where you have to ask why. If you're like this guy, and in your late 40s with $250m in the bank, you're going to be hard pushed to ever spe
by NeedMoreTea 8y ago
There comes a point where you have to ask why.
If you're like this guy, and in your late 40s with $250m in the bank, you're going to be hard pushed to ever spend it. Betting it all on red seems ridiculous. Surely better to enjoy the benefits of it and leave his family set for generations. Keep $20m for silly bets, and cover your trades. :)
- charlesdm 8y agoThe honest answer is likely that he liked numbers. Not many people enjoy genuine retirement. But he probably shouldn't have gone all in. :)
- user5994461 8y agoThe article says that the spread peaked at 17 times the usual. He was probably accounting for some risk and a $20M silly bets times 17 times leverage wiped the whole fortune.
- moneytide1 8y agoMakes me think of Elon Musk putting the majority of his PayPal sale (>$100M) into new companies, which hired people and produced something of value that many are now benefiting from. One of which was motivated in part by eliminating carbon emissions. Feels somehow ironic - this guy losing so much because surprise weather patterns filled up Northern Europe hydroelectric reservoirs, coupled with German carbon tax. Perhaps karma builds up when you want to hoard and keep living with minimal risk.