Tuesday, June 22, 2010

Dealbook Column - Elon Musk, a k a Tony Stark, Is Paper-Rich, Cash-Poor - NYTimes.com

Interesting times

It was quite a revelation, one that laid bare an uncomfortable truth in the world of venture capital: high-tech entrepreneurs who look rich are often relatively cash-poor, at least next to their glittering images. Mark Zuckerberg may be a billionaire when, or if, Facebook goes public. Larry Ellison, the founder of Oracle, lives like a king. But most of his wealth is tied up in Oracle stock. Mr. Ellison lives in part off loans.

People like Mr. Musk may have redefined what it means to be rich, particularly young and rich. But somehow, many of these seemingly successful people live on the financial edge, waiting, hoping for the next deal to unlock their next fortune.

Dealbook Column - Elon Musk, a k a Tony Stark, Is Paper-Rich, Cash-Poor - NYTimes.com

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