Let me put it this way. I started broke and I’m now a billionaire. And I never sold any shares.
Liberty Media’s Malone To Heckler (via rickyv)
gbattle sez:
John Malone is probably one of the savviest businessmen in media, period. When my former boss, Bob Johnson, had the idea in the late 70’s to start Black Entertainment Television and shopped the idea, John Malone loaned him the $250K he asked for and insisted on another $250K as an equity investment. When BET sold to Viacom, Johnson became a billionaire as the second largest Viacom shareholder after Sumner Redstone, but, that little $250K investment turned into $800mm for John Malone (research for yourself how he reduced the tax implications). One deal of many by the smartest in the business.
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