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Technology Stocks : Intel Corporation (INTC)

INTC 33.60

-4.3%

3:58 PM EST

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To: nihil who wrote (101783)	4/3/2000 1:42:00 AM
From: rudedog	Read Replies (2) of 186894

nihil - I think you are wrong about Gates owning 22.3% of MSFT in 1997. I will have to do some digging to get the data but right after the IPO in '86, Gates held a little over 15%, and I doubt if he bought MORE MSFT stock at any point. So getting to 14.3% might imply that he unloaded about 10% over the years. That squares with a Forbes interview with the guy who manages his private investment fund - he said that Gates had put a little less than $10B into the fund in total. Of course Gates would have received options over the years as well but we can assume that is small in comparison to his original position. Ballmer, on the other hand, borrowed to full margin in summer of 1987 to add about 50% to his MSFT position. His original stake through the IPO amounted to about $100M at the time and he bought an additional $45M. WSJ had an article about it - "The hundred million dollar man increases his bet" or something like that. I assume he was able to pay off the margin with the $15B or so he made on that play...

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