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The_Real_Wahrheit ago

Boy I wish I could buy $60 mil in assets with only $250k of skin in the game!

"In 1988, Scott and Richard Rainwater, a financier from Fort Worth, each put up $125,000 in working capital in their new company, Columbia Hospital Corporation,[23] and borrowed the remaining money needed to purchase two struggling hospitals in El Paso for $60 million"

letsdothis3 ago

Yup. Thanks for reminding me about that.

Richard Rainwater https://www.texasmonthly.com/list/telling-fortunes/no-24-richard-rainwater/

The son of a Fort Worth grocer and a J. C. Penney sales clerk, Richard Rainwater got his start at 26, when Sid Bass stole him away from Goldman Sachs to manage the Bass family portfolio. Rainwater’s particular genius—buying troubled companies in faltering industries, installing new management, and turning huge profits—was most famously on display in 1984, when he and Sid invested $478 million in the then-floundering Walt Disney Company, a deal that reaped billions. Rainwater set up his own shop two years later and became a kingmaker, putting together the 1989 deal that allowed George W. Bush to buy a stake in the Texas Rangers and generating most of the future president’s personal wealth. Rainwater has largely retreated from view since 2009, when he was diagnosed with progressive supranuclear palsy—a rare, incurable, degenerative brain disease.