Quote:
Originally Posted by Enoch Root
Well, you learned a way to illustrate the difference between a million and a billion. But you definitely missed the lesson on how to become or remain a billionaire.
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I’ve Had experience with Edwards, way back when he got the Skiing Louise businesses out of CCAA restructuring. He has never spent money without a lot of thought. That’s why he’s who he is. Plus, a million bucks is a million bucks no matter how much you make. Those guys don’t look at it as a percentage of their net worth. Edwards in particular was not born rich so he has a real handle on what money means.
“Net worth” is also a pretty phone way of looking at it as well. Edwards’ net worth includes shares in private companies like CSEG which he can’t just sell (because of internal agreements) and public companies like CNR, which he can’t just turn into cash overnight because of exchange and securities rules, and which fluctuates a lot depending on share price. It also includes his real estate, which is obviously not fungible. So while he’s got plenty of disposable income, it’s not in the billions.
Back in my experience with him, I overheard him talking to Flames management about player signings. He said something like “It’s your budget - hell, sign Jagr if you want”. This was back when Jagr was maybe the best player in the league, so he was basically saying it was the GM’s job to put the team together with whatever money he was allowed by the owners.