"Steve Wright" <[EMAIL PROTECTED]> writes:
Hi all, Im still looking for I.T related cases Ive found a great one Borland
Vs Lotus, but Im having trouble finding more.
P.S Thanks for this one Sue, $50 billion, Now I know who to invest it <lol>
Cheers Steve
-----Original Message-----
From: Sue Hartigan <[EMAIL PROTECTED]>
To: [EMAIL PROTECTED] <[EMAIL PROTECTED]>
Date: Sunday, April 05, 1998 2:10 AM
Subject: L&I GATES IS THE $50-BILLION MAN
>Sue Hartigan <[EMAIL PROTECTED]> writes:
>
>
>Wall Street's high lasted only minutes,
> but Bill Gates' milestone of the wild day
> is forever - yesterday his personal stake
> in Microsoft passed $50 billion.
>
> That is a stunning Wall Street record -
> and comes just 23 years after Gates set
> up the company from nothing with
> college buddy Paul Allen.
>
> Gates is now richer than hundreds of
> countries around the world.
>
> The 42-year-old chairman of Microsoft
> Corp. saw his fortune swell by nearly $1
> billion during eight frenzied hours of
> trading as the Dow Jones industrial
> average cracked the 9,000 mark briefly.
>
> It boosted his personal wealth to $50.35
> billion, easily letting Gates retain his title
> as the world's richest man. Microsoft,
> the software company he co-founded in
> 1975, is worth more than $220 billion.
>
> Yesterday's rise makes him richer than
> the entire economies of most nations,
> including the oil-rich states of Kuwait
> ($28.9 billion) and the United Arab
> Emirates ($42.8 billion), as well as
> Egypt ($45.5 billion), Hungary ($42.1
> billion) and Nigeria ($28.4 billion).
>
> From a Harvard dropout who started on
> a shoestring in a friend's garage, Gates
> has become the new model of the
> American dream, replacing Henry Ford
> and Andrew Carnegie.
>
> All of Gates' wealth is tied up in
> Microsoft stock, which has been one of
> Wall Street's biggest winners ever.
>
> In the last nine months, as the Dow
> surged 1,000 points over last summer's
> historic 8,000 level, Gates earned a
> staggering $20 billion in paper profits
> on his Microsoft stock.
>
> It could buy a $9 meal for every man,
> woman and child on the planet.
>
> Over that nine-month period, it amounts
> to earning an hourly wage of about
> $13.8 million.
>
> Investors love the nerdy rich man
> because he's created so many rich
> people with his Microsoft stock.
>
> Even scores of his employees at
> Microsoft have become millionaires on
> the stock options he awarded as
> bonuses in lieu of cash over the years.
>
> His stock is even stronger than the
> American greenback.
>
> Dollars shrink in value about 3 percent
> a year due to inflation, but Microsoft
> stock increases each year, 38 percent
> since January alone.
>
> While Wall Street forgives Gates almost
> anything, bureaucrats in Washington
> aren't that admiring.
>
> Federal regulators and the attorney
> general are probing Gates'
> money-making machine for possible
> strong-arm tactics that may have
> broken monopoly laws.
>
> Being rich has its price. Senators have
> called Gates to Capitol Hill for an
> unprecedented and humiliating public
> grilling. Even some of his biggest
> boosters of the past are turning against
> him.
>
> Just yesterday, the respected editor of
> Windows Magazine, former Gates
> booster Mike Elgan, published an angry
> open letter to Gates, urging him to
> reform his products or lose out on the
> race to the future.
>
> "The time has come for someone to
> publicly state your dirty little secret:
> Thanks to Microsoft's 13-year
> obsession with adding features,
> Windows has become a bloated,
> unwieldy product only experts can use
> without confusion, crashes and endless
> compatibility problems," Elgan said.
>
> Little seems to stop investors from
> pouring money into Gates' stock, with
> more than 9.8 million shares trading
> hands yesterday.
>
> If Gates makes big bucks on his stock,
> does it mean other investors will cash
> in?
>
> Not always, says investment expert
> Charles Crane of Key Asset
> Management.
>
> "It's never too wise to hang your hat on
> one criterion. High insider ownership is
> a good measure, but it's shortsighted to
> use that as your only criterion."
>
> Every time Microsoft stock moves up
> just one point, Gates racks up about
> $541 million in paper profits.
>
> Of course, he also loses that amount if it
> drops one point.
>
> Gates and his stock were knocked for a
> loop a few weeks ago after his
> showdown with the Senate inquisitors.
> When the politicians hinted about
> imposing new regulations on Microsoft,
> the company's stock slid and Gates lost
> $3 billion in just two days.
>
> But lately he's been making it back big -
> $2 billion in just one day last week after
> forecasting strong sales.
>
> Yesterday, Microsoft gained 11116 to
> finish at 93.
>
> To fight off Washington, Gates has
> hired extra public relations people and
> undergone a makeover as a new "Mr.
> Nice Guy." Experts say Gates should
> also boost his political contributions,
> which were just a measly $61,000 last
> year.
>--
>Two rules in life:
>
>1. Don't tell people everything you know.
>2.
>
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