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Well that doesn't match how wealth on the level we are talking about works. I guess that lots of Larry Ellison's wealth is in stocks, which are fluctuating in

Well that doesn't match how wealth on the level we are talking about works. I guess that lots of Larry Ellison's wealth is in stocks, which are fluctuating in worth on a constant basis. Another part of his wealth is real estate, like his Hawaiian island or land for his Japanase-style home in the Bay Area. There the value is only an estimate. Also I assume most of the day to day handling is in the hands of an accountant and there's constant in and out of sums for paying his personal staff, buying supplies, paying maintenence of his Mig Jet or whatever goes on there.

jchw 7y ago
4 billion dollars of 65 billion dollars is around ~6%. Now I'm not a stock guru but I'm betting for a fairly diversified portfolio a change of 6% is actually pretty big, and is something that is likely to happen over a fairly long period of time. As an arbitrary pick, it looks like the S&P 500 has moved +4.59% in the past 6 months. >Also I assume most of the day to day handling is in the hands of an accountant and there's constant in and out of sums for paying his personal staff, buying supplies, paying maintenence of his Mig Jet or whatever goes on there. I know nothing about Larry Ellison or this case, but somehow I doubt someone with $65B net worth is not paying attention to their account balances or their investment positions at all. You hire an accountant to take care of the things you don't want to or don't have time to do, but if you have that much money it is apparent that you care about how much money you have.
- johannes1234321 7y ago
  It is true that such an acquisition or loss of fortune would be noticed. But context of the discussion is "how much did he overpay the acquisition to put money in his pocket" So question is "Is it a difference he notices, if Oracle spent less on the acquisition?" - So if Oracle paid not 9.3, but 5B for PeopleSoft Larry got not 4, but a bit less of 2B for the deal for his account. At the same time the value of his Oracle stocks would be different (probably higher) thus the notable effect of the deal is small for Larry (but potentially bad for that sueing pension fund)

jchw 7y ago

4 billion dollars of 65 billion dollars is around ~6%. Now I'm not a stock guru but I'm betting for a fairly diversified portfolio a change of 6% is actually pretty big, and is something that is likely to happen over a fairly long period of time. As an arbitrary pick, it looks like the S&P 500 has moved +4.59% in the past 6 months. >Also I assume most of the day to day handling is in the hands of an accountant and there's constant in and out of sums for paying his personal staff, buying supplies, paying maintenence of his Mig Jet or whatever goes on there. I know nothing about Larry Ellison or this case, but somehow I doubt someone with $65B net worth is not paying attention to their account balances or their investment positions at all. You hire an accountant to take care of the things you don't want to or don't have time to do, but if you have that much money it is apparent that you care about how much money you have.

johannes1234321 7y ago
It is true that such an acquisition or loss of fortune would be noticed. But context of the discussion is "how much did he overpay the acquisition to put money in his pocket" So question is "Is it a difference he notices, if Oracle spent less on the acquisition?" - So if Oracle paid not 9.3, but 5B for PeopleSoft Larry got not 4, but a bit less of 2B for the deal for his account. At the same time the value of his Oracle stocks would be different (probably higher) thus the notable effect of the deal is small for Larry (but potentially bad for that sueing pension fund)