OH, OH....
$1.1B Tiger Woods Dubai course plan ‘on track’
Read more: http://www.golf.com/golf/tours_news/article/0,28136,1835723,00.html##ixzz0Y5xSJB1w
I see a SNL skit brewing at full boil.
“$1.1B Tiger Woods Dubai course plan ‘on track’”
Should note it is an Aug. 2008 article, and much has changed regarding Dubai investments since.
Even so, any wise billionaire would/should be diversified.
Usually these guys don’t put their own money in projects. They get paid for designing it and having it named after them.
Things have changed a lot. The old fashioned entrepreneur is a dying breed. Today it’s all about OPM (other people’s money) and has been so since the 1980’s and the junk bond era. Even Hollywood Studios finance films with outside investors which is how the producers got so darn filthy rich. They never lose because they never put their own money in. They get paid if they lose and get paid more if they win.
Not sure what Tiger’s finances are, but he’s still young and could probably earn another $500 million before he’s done - provided he doesn’t screw it up by destroying his image/reputation. Sure if he lost a bundle that might explain his erratic behavior but I would find it hard to believe in the post Madoff era if he wasn’t well diversified. When you have $1 billion all you have to do is preserve your wealth, not risk it. Bonds, income real estate and insurance.