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Well, he still made it out as a billionaire.

• jgalt212 7y ago
  did he? He's very levered against his stock.
  • sudhirj 7y ago
    Even worth the buildings owned and the cash payments for the word ‘we’?
    • CrazyStat 7y ago
      He gave back the trademark payment iirc. He got a few hundred million for stock he sold, and borrowed a few hundred million more against stock he still owned. We don't know the exact numbers though. He also gave away $100m+.
    • thedufer 7y ago
      He was paid for 'we' in stock, not cash, and he ended up paying it back after their first IPO filing caused an uproar.
• sudhirj 7y ago
  At least it was private money that hopefully learnt their lesson. Think of it as karmic wealth redistribution. Unless the private money turned out to be pension funds in which case oh shit.
  • Ididntdothis 7y ago
    Most likely it was pension funds or municipalities. It’s not the VCs own money
    • goatinaboat 7y ago
      Most of it was the Saudi royal family’s money, they were the biggest investors in the Vision Fund.
      • api 7y ago
        Not sure I'd rip off Mohammed Bonesaw, but I guess he didn't do so directly. The vision fund is the truly amazing case of serial capital destruction. Of course it brings to mind something I heard from a PI years ago: if something doesn't make sense as a business, maybe it makes sense in some other way. Could this be somehow about moving money around? No clue, just wild speculation because it all looks so irrational.