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Paul Allen Loses Nearly Half His Fortune | |
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| Time: 11:44 EST/16:44 GMT | News Source: E-Mail | Posted By: Brian Kvalheim | ||
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PORTLAND -- Times are tough, even for billionaire Paul Allen. The Microsoft co-founder's fortune has been nearly halved -- from $40 billion to $21 billion. According to Forbes Magazine, the Trail Blazers owner's decline of the stock market and other setbacks are cited. The run of bad luck has forced thousands of layoffs at companies in which Allen has invested. Allen's newfound restraint hit Oregon this month when the Trail Blazers laid off much of its staff. | ||
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| #1 By 61 (24.92.223.112) at 7/28/2003 11:37:25 PM |
|
There is more to a software company than just coders.
BTW, most of Bill, Paul, and Balmers's fortunes come from investments in other companies, not from Microsoft. in fact, both are paid substantially less than most people in the same positions in other companies... heck Steve Jobs is the most highly paid CEO in the world, yet Apple is but a spec in the computer industry. |
| #2 By 931 (67.35.82.165) at 7/29/2003 1:16:20 AM |
| dam just imagine you kinda lost 20billion $... man that has just gotta suck any way you slice it.. |
| #3 By 1845 (12.209.152.69) at 7/29/2003 1:43:45 AM |
| CPU, huh? At least that portion of Bill's fortune that is public knowledge is his several hundred million shares of Microsoft (*~$26/share) makes him the richest man in the world. He does have other investments that are not of public record, but I highly doubt that owning 40 Billion dollars or so of Microsoft stock is pittance compared to his other investments. I suspect his Microsoft stock is the lion's share of his net worth. |
| #4 By 9549 (63.88.169.2) at 7/29/2003 8:31:56 AM |
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#6 a Dollar and a $45 million dollar Plane This post was edited by cto on Tuesday, July 29, 2003 at 08:33. |
| #5 By 61 (24.92.223.112) at 7/29/2003 10:05:58 AM |
| JWM: That was for the first year that he came back to Apple. |
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