Paul Phillips net worth

[gcoutu]

Less than 50 Million.


Wow I already feel better about myself.

[mwgr5]

I may be way off here, but if he owned 2.8% of the company, which sold four 4 billions, that comes out to him earning 112 million dollars.

[david050173]

Anyone know what company Paul worked for and was bought by? If they are a public company, I am guessing Paul had to report his sales and you should be able to see them on yahoos insider trading list. Of course we don't know how much he has blown on toys

[DesertCat]

I may be way off here, but if he owned 2.8% of the company, which sold four 4 billions, that comes out to him earning 112 million dollars.

You are way off here. Technically I recieved $6 Million dollars when my company was sold to a public internet company. But in reality I recieved 240k shares of stock that were trading at $25.

Since I was a founder, the buyer required me to sign a "lock-up" agreement restricting me from selling any shares for one year. By the time that agreement expired the stock was trading for $1 per share. The company was recently sold for 51 cents a share, in cash this time. I'm guessing that Paul not only recieved stock but may have had some limited lockup agreement as well. It's also my understanding that the company that bought his is trading right now for a fraction of the price you quoted.

Now based on his sartorial splendor from the last WPT event I watched, and his ability to have a bankroll big enough for all those buyins, I'm pretty sure he did far, far better than I did. He probably had some good financial advisors who diversified him relatively quickly. So his net worth could be anywere from a couple million to $100M (doesn't this speculation strike you as the least bit creepy? what business is that of ours?). He seems to me as an individual who'd be just as happy in at any extreme of that scale (or even below that). Money can open some neat doors, but if you require it to be happy you'll never really be happy.

I have a friend who made $400k a year (and spent every penny of it), and could have sold his business for $10M. I told him to do it, cause he could easily invest the remainder and live the same lifestyle without every having to work again. His reply was "But I hate the way I live". What do you say to that?

[HUSKER'66]

[ QUOTE ]
I may be way off here, but if he owned 2.8% of the company, which sold four 4 billions, that comes out to him earning 112 million dollars.

You are way off here. Technically I recieved $6 Million dollars when my company was sold to a public internet company. But in reality I recieved 240k shares of stock that were trading at $25.

Since I was a founder, the buyer required me to sign a "lock-up" agreement restricting me from selling any shares for one year. By the time that agreement expired the stock was trading for $1 per share. The company was recently sold for 51 cents a share, in cash this time. I'm guessing that Paul not only recieved stock but may have had some limited lockup agreement as well. It's also my understanding that the company that bought his is trading right now for a fraction of the price you quoted.

Now based on his sartorial splendor from the last WPT event I watched, and his ability to have a bankroll big enough for all those buyins, I'm pretty sure he did far, far better than I did. He probably had some good financial advisors who diversified him relatively quickly. So his net worth could be anywere from a couple million to $100M (doesn't this speculation strike you as the least bit creepy? what business is that of ours?). He seems to me as an individual who'd be just as happy in at any extreme of that scale (or even below that). Money can open some neat doors, but if you require it to be happy you'll never really be happy.

I have a friend who made $400k a year (and spent every penny of it), and could have sold his business for $10M. I told him to do it, cause he could easily invest the remainder and live the same lifestyle without every having to work again. His reply was "But I hate the way I live". What do you say to that?

[/ QUOTE ]

Now that's a bad beat. That hurt me just to read......

Husker