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If that's the case, I'm very curious now about how two Stanford professors have at least 250M of property under their name. Perhaps it has been acquired in the

If that's the case, I'm very curious now about how two Stanford professors have at least 250M of property under their name. Perhaps it has been acquired in the past 4 or so years? (Nothing against Stanford or professors, but academia pay peanuts and professors are usually very far from having a net worth of 9-10 figures, faaaaaaaar awaaaaaay)

vostok 4y ago
This isn't super relevant, but academia in the US pays very well. This is even more so the case for law, business, engineering, medicine, and a few other areas. Obviously not relevant in the context of $250 million.
throwawaylinux 4y ago
They're mixed up in political lobbying and fundraising, it's quite possible they are independently and legally if immorally wealthy.
zamalek 4y ago
Their son had this crypto exchange that was flinging money in every-which-direction.
devmunchies 4y ago
Another question, what if they are still paying a mortgage? Then they are “bailing on leverage”? Committing the bank’s home to the US govt.
gnicholas 4y ago
Law professors make much better money than most academics, with starting salaries more than double what humanities professors make. These are also senior professors who have been at Stanford for a long time, making good money and presumably investing along the way. SBF's dad is a famous tax law professor (he 'wrote the book' on federal income taxation that's used at law schools all over the country), so he understands finance/investing better than most academics. I would guess that their net worth was north of $10M just based on those earnings, subsequent investment, and their house (which is apparently worth $3M+). Of course, SBF has had some incredible arbitrage wins over the years, and he presumably offered his parents the opportunity to run a million or two through his money making machine. If they were more conservative with their gains that he was, they could easily have $20 or $50 million. I agree it's unlikely that they have 10 figures, though.

vostok 4y ago

This isn't super relevant, but academia in the US pays very well. This is even more so the case for law, business, engineering, medicine, and a few other areas. Obviously not relevant in the context of $250 million.

throwawaylinux 4y ago

They're mixed up in political lobbying and fundraising, it's quite possible they are independently and legally if immorally wealthy.

zamalek 4y ago

Their son had this crypto exchange that was flinging money in every-which-direction.

devmunchies 4y ago

Another question, what if they are still paying a mortgage? Then they are “bailing on leverage”? Committing the bank’s home to the US govt.

gnicholas 4y ago

Law professors make much better money than most academics, with starting salaries more than double what humanities professors make. These are also senior professors who have been at Stanford for a long time, making good money and presumably investing along the way. SBF's dad is a famous tax law professor (he 'wrote the book' on federal income taxation that's used at law schools all over the country), so he understands finance/investing better than most academics. I would guess that their net worth was north of $10M just based on those earnings, subsequent investment, and their house (which is apparently worth $3M+). Of course, SBF has had some incredible arbitrage wins over the years, and he presumably offered his parents the opportunity to run a million or two through his money making machine. If they were more conservative with their gains that he was, they could easily have $20 or $50 million. I agree it's unlikely that they have 10 figures, though.