Richest local you know

[Tron_fdc]

Originally Posted by you&me

What do you find weird about it?

Taught things like vetting and identifying people and friends from trying to use them, ultra high confidence (not really arrogant, just confident), travel with bodyguards, have a hard time relating to people in certain circumstances....just odd.

I gave a few Mannix family members a tour of our facility a few years ago and had a 13 year old ask me what my company valuation was. Exact words.

[lazypucker]

Oh, I remember a couple more rich people that I know of. I went to one house party thrown by a classmate while in university here and there were 2 guys talking about building some social networking / AI algorithm on linking up people and needed funding partners to form a company. They were looking for $5K per investor and asked if us at the party were interested to join them. I thought they were just BS-ing because of the heavy drinking, but those 2 guys were Garrett Camp and Conrad Whelan - of later Uber fame.

Only if I listened to them and put down $5K back then.......

[DoubleF]

I met Gary Tom quite a few times before he moved to be a top dog at Walton International. I've been in the house just north of Calgary downtown before he sold it to the Shaw family for record numbers. He must have been loaded as F, but honestly speaking, besides his house, everything else about him seemed like he lived a modest average O&G wage/lifestyle (car, electronics, clothing, travel etc.) as one would with a household income of like $100K (nice, but not full on opulent).

I did the accounts for a guy who owned a couple buildings downtown. He invested in a couple of junior O&G once upon a time in the 60s and 70s and once they got bought out, he had more money than he even know what to do with. He just sat on a ton of commerical buildings and annuities from there on out. He basically just let the cash add up. IIRC, he had like a net worth of something like 60-70 mil, but lived life one something like $60-70K a year. Nice enough, but nothing remotely close to what he could have. Weirdly enough, either he was damn good at hiding how much he was worth, or his kids literally didn't care, but his kids worked at his companies and honestly they looked like blue collar people who lived off of a household income of $80K a year.

I did the accounts for a few other guys with net worths around the $20+ mil range and always growing. All these guys look super blue collar. You'd assume they were the project managers at a construction site. No high end watches, vehicles worth over $60K, nothing like that at all. Dudes all live like they have a net worth of $500K (ie: Lives in a $750K home with $250K mortgage still left on it). Nope, they still work every day even though they can retire several times over and pay yearly taxes + tax instalments that are like 5-8x my total years wages... pre-tax.

I had a long interesting convo with a guy at the U of C once. He just kept asking how my experience at the Haskayne School of Business was like, presumably because he knew someone's kid who was thinking of attending. Near the end of the convo, he was like:

"You know my name, right?"
"You introduced yourself as Rick...?"
"Yep. That is correct."

Apparently I was oblivious to the fact I was chatting up a storm with Richard Haskayne. Somewhere along the lines I messed up Richard and Dick and he was playing along or just as mixed up as I, and I was talking to some random ass schmo "Rick" who was really the dude whose name was on the business school I was attending...

[calgarygeologist]

Originally Posted by Roughneck

$10K from my college fund went to that IPO. Don’t know how much my parents put in. Definitely didn’t make a million, but low six figures. My dad’s friend who was a higher up at Petro-Canada put him onto it. A network of Irish immigrant professionals made a lot of money with that marvellous little company.

Originally Posted by firebug

I spent 7 years in investment banking out of university.

Had lunch with billionaires more than once.

Meeting with clients worth 8-figures was very common and those worth 9-figures not unusual.

Recall in 2006 taking an $8/share acquisition offer to a company president who owned more than 4-million shares. He turned it down saying he felt they were worth $10/share. Also recall that same company going bankrupt in 2013... them's the breaks ;-)

One of the first deals I worked on was for Petrolifera Petroleum (PDP). We did a pre-ipo round at 1.50 and then an IPO for a $2.50 unit including a half warrant. I believe the stock topped out over $20 in its first year - my MD made over $1-M on just that one deal.

Oh the good old days of Colombian oil and gas and PDP. I was working as a Geologist on a number of Colombian projects for a couple different companies and was very familiar with PDP. Everyone was making fists full of cash in Colombian and honestly it was all pretty sketchy. There was certainly some great assets down there and some strong reserves and production potential but a lot of corporate structures and shell companies and ownership was really hard to understand.

[pylon]

I don't think it's fair to reveal his identity, as a lot of people know who I am, and could piece it together if I put in any specific details, but he's rumored to be worth about 200 mil, and is the nicest, most down to earth and charitable guy I know. A genuine shirt off his back kinda guy that fought and clawed his way to the top.

He looks after his kids well, but not in the I have hundreds of millions of dollars way well. They have to earn it like anyone else, hold onto a 9-5 job and he's more than open to investing in their futures, but you better have a rock solid business plan, know what you are doing and be prepared to be accountable if things go south.

The one thing I will say, I owe the guy a lot, and he's the type that it has nothing to do with who you know, how you look, or how far you'll bury your nose up the bosses ass. He's 100% about, how hard are you willing to work, and what's the result? And he'll never get offended if you disagree with him. He's always looking for a way to improve, even if it's not his idea.

[djsFlames]

Originally Posted by pylon

I don't think it's fair to reveal his identity, as a lot of people know who I am, and could piece it together if I put in any specific details, but he's rumored to be worth about 200 mil, and is the nicest, most down to earth and charitable guy I know. A genuine shirt off his back kinda guy that fought and clawed his way to the top.

He looks after his kids well, but not in the I have hundreds of millions of dollars way well. They have to earn it like anyone else, hold onto a 9-5 job and he's more than open to investing in their futures, but you better have a rock solid business plan, know what you are doing and be prepared to be accountable if things go south.

The one thing I will say, I owe the guy a lot, and he's the type that it has nothing to do with who you know, how you look, or how far you'll bury your nose up the bosses ass. He's 100% about, how hard are you willing to work, and what's the result? And he'll never get offended if you disagree with him. He's always looking for a way to improve, even if it's not his idea.

Now that, I respect.

The most masculine and well-rounded guys are the ones that don't get bent out of shape by people with different perspectives, even if they are aggressive about it. The ability to remain calm, listen and actively try learn from other viewpoints as a neutral observer/learner is one of the most underrated life skills and in the end likely makes you a better business person as you gain rapport with various kinds of people.

Not a slight to some CP posters as it is difficult to do if you have been raised with deeply ingrained beliefs, but many here could benefit greatly from developing that ability in themselves.

[peter12]

Meh

[Dion]

The richest person I know would give the shirt off his back to help someone in need. It's not about money or wealth to him. You wouldn't be able to tell if he was rich by how he lives his life or the things that he owns.

[monkeyman]

The richest person I know doesn't have a dime, but has good health, a wonderful wife and amazing kids.
haha. I'm just kidding. someone had to be that guy.

[AltaGuy]

My grandpa was good friends with Paul Desmarais Sr. He was pretty rich. I never met him but I met one of his sons.

[bagofpucks]

Not local, but I have two family members that have been fairly high level executives for the better part of their careers. I never asked him the number, but I suspect the one’s severance from his last job will be close to what I’ll earn in my life...haha. I’m obviously biased, but whenever friends meet them they are always surprised at how down to earth they are. I will say there are some pretty funny things that they are out of touch about. When I bought my first SUV the one family member didn’t understand why I didn’t buy an Acura MDX as that is her favorite. I told her it was close to double my price range. She had no clue what they cost despite owning 3 or 4 of them over the years. She asked me to help buy her next car as I quite enjoy researching new cars and when she sent me the list I had to tell her I had no idea how I would help. Her top three were Tesla, Alfa Romeo and a Jaguar. Sorry, I got nothing. They are also quite cheap about some things, which always makes me laugh. Never book a hotel and are super cheap with rental cars. But in general, they are very generous with their resources and are great mentors.

[manwiches]

I grew up with Nick and Ernest Hon. Old family friends, but since lost touch.
I was in Doug Risbrough's daughter's class from K-3. She was super nice from what I remember.
Was friends for a year with Adam Singer (Singer family), before he moved schools. Biggest house I've ever been in in my life.

Really though, you'd never have known they were loaded unless you knew the name or went to their houses. I had good friendships with them all when I knew them

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[manwiches]

Originally Posted by troutman

I know some that made a fortune on TESLA this year.

My financial advisor has a client that invested 100k into TSLA when it was 400 last year in his TFSA. TSLA hit $2k, and he made out like a bandit.

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[you&me]

Originally Posted by Tron_fdc

Taught things like vetting and identifying people and friends from trying to use them, ultra high confidence (not really arrogant, just confident), travel with bodyguards, have a hard time relating to people in certain circumstances....just odd.

I gave a few Mannix family members a tour of our facility a few years ago and had a 13 year old ask me what my company valuation was. Exact words.

The vetting new people is a truly wealthy person move, and can be for good reason, but I understand how it would seem weird. I disagree about not having a concept of money, but I think that's just a matter of perspective... At a certain point, some expenses become so immaterial that they're completely irrelevant.

In my experience, your encounter seems strange, but I suppose anything could happen. There is definitely a difference in how wealthy people approach and understand everything about money, especially at that level and with such a strong familial inclination to preserve generational wealth.

[fulham]

Having cash and being worth a lot (and spending a lot) are different things.

My grandpa is a first gen immigrant worth over 2 billion dollars. He drove a 1993 4 runner and lives in a bungalow in west vancouver. He legitimately only shopped at winners/walmart his entire life.


my father is worth 500 million as he owns 25% of the family company. He spends a lot and lives a "rich lifestyle" but not more sow than any premier Calgary flame player. Aka a vacation house and lots of toys.


Im technically worth a lot via shares in my family company. I cant sell them; we dont pay out a dividend and I make 60K a year working in tech, with 90K in debt due to a injury I sustained in the US(with no insurance).

Net worth/Cash/Access to funds are different things.

[peter12]

Originally Posted by fulham

Having cash and being worth a lot (and spending a lot) are different things.

My grandpa is a first gen immigrant worth over 2 billion dollars. He drove a 1993 4 runner and lives in a bungalow in west vancouver. He legitimately only shopped at winners/walmart his entire life.


my father is worth 500 million as he owns 25% of the family company. He spends a lot and lives a "rich lifestyle" but not more sow than any premier Calgary flame player. Aka a vacation house and lots of toys.


Im technically worth a lot via shares in my family company. I cant sell them; we dont pay out a dividend and I make 60K a year working in tech, with 90K in debt due to a injury I sustained in the US(with no insurance).

Net worth/Cash/Access to funds are different things.

[bizaro86]

Originally Posted by fulham

I Inherited a Multi-Res Real Estate company based in Vancouver, from my father when he passed away suddenly, just after finishing my Economics Degree at UofC.

I love real estate, Creating value that others didn't see is rewarding for me.

I love meeting other people who are equally passionate about their job(even Competitors)

I hate the fact that I fully support many members of my family, thru jobs My father gave despite knowing that they were not remotely capable

Nothing more irritating than, watching my family live a more lavish lifestyle than myself while paying for all of it.

I love my work, and working for myself, but i hate the "family" aspect of my business

https://forum.calgarypuck.com/showth...16#post5399816

Originally Posted by fulham

Having cash and being worth a lot (and spending a lot) are different things.

My grandpa is a first gen immigrant worth over 2 billion dollars. He drove a 1993 4 runner and lives in a bungalow in west vancouver. He legitimately only shopped at winners/walmart his entire life.


my father is worth 500 million as he owns 25% of the family company. He spends a lot and lives a "rich lifestyle" but not more sow than any premier Calgary flame player. Aka a vacation house and lots of toys.


Im technically worth a lot via shares in my family company. I cant sell them; we dont pay out a dividend and I make 60K a year working in tech, with 90K in debt due to a injury I sustained in the US(with no insurance).

Net worth/Cash/Access to funds are different things.

I'm glad to hear that your father has recovered.

[Johnny Makarov]

A poster in here had a grandfather who donated $200 million worth of land to Red Deer.

[curves2000]

Plain and simple here is the best definition and example of how to describe wealth/ The 1980's era movie Wall Street.

“I’m not talking about some $400,000-a-year working Wall Street stiff,” Gekko affirms. “I’m talking about liquid, rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, Buddy. A player—or nothing.”

[Cecil Terwilliger]

Originally Posted by bizaro86

https://forum.calgarypuck.com/showth...16#post5399816




I'm glad to hear that your father has recovered.