Thursday, February 14th 2008

Gates Looses $3 Billion from Personal Fortune in Yahoo Bid; Tech Stocks Plummet

It seems that Yahoo isn't the only one suffering from the failed buy-out of Yahoo by the hand of Microsoft. Sir William Gates III is reported as having lost over $3 billion USD from his personal fortune in Microsoft stock just from trying to buy Yahoo. However, Gates' fortune is just the tip of the iceberg. Microsoft CEO Steve Ballmer, Google bosses Sergey Brin, Larry Page and Eric Schmidt, and Dell founder Michael Dell all are watching their fortunes and stock values plummet "like a team of free falling elephants." Even Steve Jobs, who should be swimming in the pool of wealth his entertainment gadgets have given him, is instead watching in horror as his share price looses a whopping 40% value in the stock market. Jobs, personally, has lost over $400 million in the past six weeks.Source: The Inquirer
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34 Comments on Gates Looses $3 Billion from Personal Fortune in Yahoo Bid; Tech Stocks Plummet

#1
Cold Storm
Battosai
WOW... I can't say any more... Who would of knew that Yahoo saying no to the Super Power, would do something like this! Way to go Yahoo!
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#2
tiys
by: zekrahminator
Jobs, personally, has lost over $400 million in the past six weeks.
is he the Apple guy?
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#3
Basard
Maybe this is how MS planned it. Maybe the figured, if they didn't get yahoo, everybody would suffer anyways. And it's not like MS is suffering, they still have another 50 Bagillion dollars.
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#4
Kreij
Senior Monkey Moderator
The NASDAQ is taking a beating at the moment, I am sure that their "fortunes" are not just taking the beating from the failed Yahoo buyout.

Even so, Gates is worth what? Aoubt 50 Billion? a 3 billion loss is inconsequential.
It's like having $50 and buy 3x $1 lottery tickes and not winning.
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#5
Cold Storm
Battosai
by: tiys
is he the Apple guy?
Yeah. Steve Jobs is the guy who runs Macantoish, Apple
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#6
tiys
Thats what I thought but i wasn't quite sure
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#7
wazzledoozle
I'm sure the yahoo stockholders are pretty spiteful right now. I would be.
Watch Yahoo go under here in the next few months because of this.
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#8
Kreij
Senior Monkey Moderator
I'm not sure what to make of this whole thing. While the Yahoo shareholders would probably see a rally in the share value initially, the maintained value could be questioned if MS couldn't do something to make the whole move more profitable.

Plus given the fact that MS was looking at borrowing the funds to make the deal, they would have to overcome any incurred debt before realizing the profits.

Not saying they could not do it, just don't know how the whole thing would play out. IT's a pretty fickle market at the moment.
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#9
mab1376
Say hello to the next depression.

first the CEO's and big wigs get hit then more and more you'll see the economy die. or not, i'm just a pessimist when it comes to speculation.
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#10
TheGuruStud
by: mab1376
Say hello to the next depression.

first the CEO's and big wigs get hit then more and more you'll see the economy die. or not, i'm just a pessimist when it comes to speculation.
That's true, but you know the real cause of our downward spiral.

(if someone hasn't figured it out since 2001, it's the evil SOBs all over in Govt and every major bank)
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#11
a111087
by: mab1376
Say hello to the next depression.

first the CEO's and big wigs get hit then more and more you'll see the economy die. or not, i'm just a pessimist when it comes to speculation.
I hope that you are one really big pessimist, or else... :cry:
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#12
Ravenas
Guys, there is some interesting stuff going on in the Tech world today.
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#13
ThePoliceAreOutside
by: Ravenas
Guys, there is some interesting stuff going on in the Tech world today.
What? :)
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#14
evil bill
This is awful - somebody should do something to help these poor billionaires in their time of need. Perhaps a fund raiser or benefit concert ;)
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#15
Ravenas
by: ThePoliceAreOutside
What? :)
Read the article. ;)
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#16
das müffin mann
by: evil bill
This is awful - somebody should do something to help these poor billionaires in their time of need. Perhaps a fund raiser or benefit concert ;)
i agree with have to do all we can to help these poor poor billionairs, maybe a benifit diner followed by a concert?;)
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#17
mab1376
well i'm everyone has heard of the $600 tax free rebate everyone who made over $3000 in the US will be getting between may and june, and $1200 for couples + $300 per child. i think Mr. Gates should personally double everyones rebate out of pocket. :laugh:
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#18
Ravenas
by: mab1376
well i'm everyone has heard of the $600 tax free rebate everyone who made over $3000 in the US will be getting between may and june, and $1200 for couples + $300 per child. i think Mr. Gates should personally double everyones rebate out of pocket. :laugh:
Lol, I find this adminstration's way of stimulating the economy pretty funny...Although, you'll hear no complaints from me :toast:
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#19
AsRock
TPU addict
MS lose money and yahoo lose to much money way to go MS you BEEEP..
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#20
Co_Op
Bill Gates lost 3 Billion $. I lost my .02$
NOW I really don't give a f*ck :D
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#21
XooM
Woah, bill gates loosed money? He let money loose? or did he lose it? -_-
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#22
evil bill
by: Co_Op
Bill Gates lost 3 million $.
$3 BILLION, not million :eek:
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#23
Assimilator
Haha XooM - I was going to point out the spelling mistake in this article's title but you did it more eloquently than I ever could have ;).
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#24
Co_Op
by: evil bill
$3 BILLION, not million :eek:
So that's like me loosing .02 x 1000 = 20$.
No, I still don't care :D

If at least it would be 100 billions, then I'd give a f*ck, because he'd be broke :toast:
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#25
candle_86
by: Kreij
The NASDAQ is taking a beating at the moment, I am sure that their "fortunes" are not just taking the beating from the failed Yahoo buyout.

Even so, Gates is worth what? Aoubt 50 Billion? a 3 billion loss is inconsequential.
It's like having $50 and buy 3x $1 lottery tickes and not winning.
actully at last report he is worth 87 billion, now hes only worth 84billion, poor man, my life insurance says im only worth 5grand
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