Qatar going out of business sale
11-08-2015, 05:45 PM
#32
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[QUOTE=302Sport;4373845]
I agree, I know of people that spend over $10M a year for upkeep on the their private jet fleets and to them, money wise it is equivalent to most people getting new tires and an oil change for their cars.
Doing simple math shows you how little this money means to people that have a ton of it. For example, the richest guy in Connecticut, Ray Dalio, made $4 billion last year and is worth about $16 billion. If you break that down, he makes about $75 million a week, $15 million a day, or $2M an hour.
So in perspective, a new Mystic with a full race support setup is about an hours pay. So, to these guys it is the equivalent of most people buying a 30 pack of bud light.
Thank you! This is exactly what a buddy and I were talking about trying to describe how much having a net worth starting with a B really is. One billion is 1000 million. Nuts!
I agree, I know of people that spend over $10M a year for upkeep on the their private jet fleets and to them, money wise it is equivalent to most people getting new tires and an oil change for their cars.
Doing simple math shows you how little this money means to people that have a ton of it. For example, the richest guy in Connecticut, Ray Dalio, made $4 billion last year and is worth about $16 billion. If you break that down, he makes about $75 million a week, $15 million a day, or $2M an hour.
So in perspective, a new Mystic with a full race support setup is about an hours pay. So, to these guys it is the equivalent of most people buying a 30 pack of bud light.
11-09-2015, 02:57 PM
#33
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An unusual chapter in offshore racing is closed, http://speedonthewater.com/in-the-ne...ssets-for-sale.
A little more detail.
A little more detail.
11-09-2015, 03:16 PM
#34
Correspondent
Correspondent
In doing the research for our news story, we thought it might be useful to include some of the assets, as well as a quote from Sheikh Hassan bin Jabor Al Thani, who led the Spirit of Qatar's offshore racing program. We obtained both. Just good, basic reporting, as I'm sure you'll agree.
Like any other news outlet, we sometimes break news first. Other times outlets beat us to stories. Regardless, we do our own reporting as we did in this case.
Last edited by Matt Trulio; 11-09-2015 at 03:26 PM.
11-09-2015, 08:49 PM
#35
Drive to arrive alive!!!
Platinum Member
Interesting bidders can receive the tender offer documents by contacting [email protected].
I would be an interesting bidder, but I'm not interested in bidding
I would be an interesting bidder, but I'm not interested in bidding
Last edited by WARPARTY36; 11-09-2015 at 08:52 PM.
11-09-2015, 09:26 PM
#36
Registered
[QUOTE=302Sport;4373845]
I agree, I know of people that spend over $10M a year for upkeep on the their private jet fleets and to them, money wise it is equivalent to most people getting new tires and an oil change for their cars.
Doing simple math shows you how little this money means to people that have a ton of it. For example, the richest guy in Connecticut, Ray Dalio, made $4 billion last year and is worth about $16 billion. If you break that down, he makes about $75 million a week, $15 million a day, or $2M an hour.
So in perspective, a new Mystic with a full race support setup is about an hours pay. So, to these guys it is the equivalent of most people buying a 30 pack of bud light.
man... and i thought i was doing good making 6 grand last month working on fiberglass 
I agree, I know of people that spend over $10M a year for upkeep on the their private jet fleets and to them, money wise it is equivalent to most people getting new tires and an oil change for their cars.
Doing simple math shows you how little this money means to people that have a ton of it. For example, the richest guy in Connecticut, Ray Dalio, made $4 billion last year and is worth about $16 billion. If you break that down, he makes about $75 million a week, $15 million a day, or $2M an hour.
So in perspective, a new Mystic with a full race support setup is about an hours pay. So, to these guys it is the equivalent of most people buying a 30 pack of bud light.
11-09-2015, 09:36 PM
#37
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Thread Starter
Interesting bidders can receive the tender offer documents by contacting [email protected].
I would be an interesting bidder, but I'm not interested in bidding
I would be an interesting bidder, but I'm not interested in bidding
11-09-2015, 09:37 PM
#38
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Article a couple of weeks ago showing how the Middle East countries are faring with the lower oil prices. with no other means of revenue and almost a 100 cost of their citizenry... it wont last forever.
Saudi Arabia is getting squeezed
Saudi Arabia, the world's largest oil producer, needs to sell oil at around $106 to balance its budget, according to IMF estimates. The kingdom barely has enough fiscal buffers to survive five years of $50 oil, the IMF said.
That's why Saudi Arabia is moving fast to preserve cash. The kingdom not only raised $4 billion by selling bonds earlier this year, but its central bank has yanked up to $70 billion from asset management firms like BlackRock (BLK) over the past six months.
After years of huge surpluses, Saudi Arabia's current account deficit is projected to soar to 20% of gross domestic product this year, Capital Economics estimates. Saudi Arabia's war chest of cash is still humungous at nearly $700 billion, but it's shrinking fast.
http://money.cnn.com/2015/10/25/inve...c-middle-east/
http://i2.cdn.turner.com/money/dam/a...st-780x439.png
Saudi Arabia is getting squeezed
Saudi Arabia, the world's largest oil producer, needs to sell oil at around $106 to balance its budget, according to IMF estimates. The kingdom barely has enough fiscal buffers to survive five years of $50 oil, the IMF said.
That's why Saudi Arabia is moving fast to preserve cash. The kingdom not only raised $4 billion by selling bonds earlier this year, but its central bank has yanked up to $70 billion from asset management firms like BlackRock (BLK) over the past six months.
After years of huge surpluses, Saudi Arabia's current account deficit is projected to soar to 20% of gross domestic product this year, Capital Economics estimates. Saudi Arabia's war chest of cash is still humungous at nearly $700 billion, but it's shrinking fast.
http://money.cnn.com/2015/10/25/inve...c-middle-east/
http://i2.cdn.turner.com/money/dam/a...st-780x439.png
Last edited by SANLEONKID; 11-09-2015 at 09:39 PM. Reason: addiitonal information
11-09-2015, 09:41 PM
#39
Correspondent
Correspondent
If you want the bidding process materials, yes, that's the email address ([email protected]) you need to use. That's how I acquired those materials I used for the story.
