Everything I’ve read said his company hasn’t turned a profit. The company’s evaluation is based on aggressive projections from within. I’m not saying he’s not wealthy but he’s not worth $20 billion. My concerns are largely his grandiose plans. Much of this built on the pending public opening and merger of his company. So until that happens I’m going to hold off on diving head first into everything this guy says.
Spac would value at 20-23 billion, that doesn't mean without it is worth nothing. Not hardly. Only exaggeration you could mention is potential earnings forecast for the next 2 years.
I’m not saying it isn’t. I’m just being more cautious about all of this. It seems like he’s spending money before he has it. Maybe it’s because my personality wouldn’t allow me to say anything until everything goes through. I’m not skeptical about the business or how much money it could be worth. Just seems like a guy who knows this starved fan base will eat up everything he throws out.
Fair enough, I just see it as a guy that has a ton of money and is looking for ways to spend it. I would venture to say most of us would do something similar if we were in the same financial situation.
www.bloomberg.com
I’m not saying you’re wrong. But personally I’m skeptical until he gets the money. He’s saying all the right things for social media clout with this fan base. If he does everything he has set out to do more power to him. Good to see someone take the initiative but I’m not diving all in on this guy right now.Well, I didn't say he'd still be worth $20B+ if it fails. I wrote:
"You do understand that whether the SPAC merger goes through or not he's still worth billions, right?"
Maybe he even only ends up with $5B? Now think about how much money you can make each year investing your $5B, even conservatively. Not sure how the year ended, but the company was projecting a net of ~$963M this year, with exponential growth ahead. Even at 10x current net rev that's still almost a $10B company.
And let's remember he wasn't talking about ripping a check for $500M to build the stadium. There was a raise and revenue model. So let's say they are kicking in $100M. Not really a big deal when you consider his NW. Dude is trying to build a legacy, and fast.
Point is, again, his financial support isn't a binary thing predicated on the deal going through. He's loaded.
TV Lawyer, Ex-Israeli Commando Forge a $33 Billion SPAC Deal
John H. Ruiz is on no one’s list of Wall Street big shots.
Oh you got receipts? Ok ok
