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re: Louisiana has 77 people that have a $100,000,000+, who would you say is on this list?

Posted on 1/12/20 at 8:08 am to
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 1/12/20 at 8:08 am to
quote:

him losing 10s of millions of dollars a week

You don't need to be a CFA to figure out that if you're losing that much a week you have a lot to lose


What would cause his to lose 10’s of millions a week?
Posted by roguetiger15
Member since Jan 2013
17350 posts
Posted on 1/12/20 at 8:15 am to
If no one said his name already, he needs to be up there

Keith Myers- owner of LHC Group

Didn’t realize this but LHC Group started in 1994 and already has over 35k employees. That’s ridiculous
This post was edited on 1/12/20 at 8:20 am
Posted by Powerman
Member since Jan 2004
170705 posts
Posted on 1/12/20 at 8:16 am to
quote:



What would cause his to lose 10’s of millions a week?

Who knows

Maybe it was just sensationalism from the local media outlets. I know he had a lot of service boats that serviced offshore platforms. Perhaps some of those were docked and just burning through money but that doesn't seem likely due to the nature of the moratorium. Shouldn't have affected that much if at all.
Posted by CHEDBALLZ
South Central LA
Member since Dec 2009
23101 posts
Posted on 1/12/20 at 8:21 am to
Just in Lafourche Parish he owns overs 47,000 acres. That's not counting Terrebonne where he owns a good bit also, over 3,000 acres.

Hes sold out cenac twice. Once to Enterprise and once to Kirby, both times for nearly $500,000,000. Hes a very wealthy man.

Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 1/12/20 at 8:22 am to
He as well as a ton of boat companies make a shite load of money during the oil spill until the moratorium

He as well as several other offshore boat companies had several boats tied up for the past 4-5 years.

But it doesn’t cost 10’s of millions a week to tie them up.

Also, GC bought Bollinger Shipyards right after the Moratorium for over $500mm then just shut a few of them down.
Posted by Martini
Near Athens
Member since Mar 2005
49623 posts
Posted on 1/12/20 at 8:24 am to
quote:

That’s what I’m saying. No one sells large tracts of real estate in Louisiana. No one wants to lose their mineral rights. If we had it set up like Mississippi and the rest of the county people would sell for economic development and still be able to hold on to mineral rights for lifetime. One of the reasons Louisiana is so stagnant.



You’re a fricking moron.
Posted by CHEDBALLZ
South Central LA
Member since Dec 2009
23101 posts
Posted on 1/12/20 at 8:25 am to
I bet Ben Bordelon is close. CEO of Bollinger
Was part owner of Bollinger when it sold
Part owner of Marrucci
Posted by tgrbaitn08
Member since Dec 2007
148031 posts
Posted on 1/12/20 at 8:25 am to
Sold to Enterprise for over $500mm and to Kirby for $245mm. Dude is loaded

He still owns Main Iron Works
Posted by Y.A. Tittle
Member since Sep 2003
109730 posts
Posted on 1/12/20 at 8:27 am to
Dis the thread where everyone name drops the rich people we know?
Posted by Tchefuncte Tiger
Bat'n Rudge
Member since Oct 2004
62741 posts
Posted on 1/12/20 at 8:30 am to
Richard Lipsey.
Posted by Anaximander
3524 Third St New Orleans, LA
Member since Jun 2018
3412 posts
Posted on 1/12/20 at 8:32 am to
As I stated above the number of folks worth in that neighborhood is next to impossible to track with any accuracy.

First, when folks are worth that much their finances are usually quite complex. Most are not simply holding a million shares of one stock. They have assets that are are varied. They have complex liabilities for tax purposes that make even a guess at their true worth a tough exercise. So, outside of the NSA putting a few thousand people on this with the power to dig through private finance records and then employing another thousand forensic accounts to analyze it, no one would have a list like this. Even the Forbes 400 is mostly a guess. Some like Gates are easier to guess because they own so many shares in a public company they have to report. Many like the Koch's are impossible to guess with any accuracy. Some left off probably have a team of attorneys and CPAs that work purposely to keep their name off the Forbes 400.

As to which state they live in, there are folks here worth that much that are here more than anywhere else but do not live here according to tax records. They have a house in a place like Florida or Nevada where there is zero percent state income tax. Or in a state where estate laws make a better transition of wealth.

This post was edited on 1/12/20 at 8:33 am
Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
14475 posts
Posted on 1/12/20 at 8:40 am to
quote:

Except there are these things called taxes, agent fees, etc.. not to mention pro-athletes have to pay the “jock tax” aka more taxes in the visiting state games they played in.

Most pro-athletes actually see approximately 35-45% of their contract/endorsement money once it’s all said and done.

There’s also this thing people do with their money called investing. 40% of 215 million is still 86 million. You think that just sits in a savings account?
Posted by 24nights
North of I10
Member since Apr 2012
5257 posts
Posted on 1/12/20 at 8:44 am to
Ok,cool
Posted by BigPerm30
Member since Aug 2011
31045 posts
Posted on 1/12/20 at 8:44 am to
Another $999,998,000 and I’ll be number 78.
Posted by LSUtiger89
Baton Rouge
Member since Dec 2007
4560 posts
Posted on 1/12/20 at 8:49 am to
Pepper Rutland- MMR
Posted by ellishughtiger
70118
Member since Jul 2004
21182 posts
Posted on 1/12/20 at 8:49 am to
I know a handful that will be in this number when their parents die.
Posted by Anaximander
3524 Third St New Orleans, LA
Member since Jun 2018
3412 posts
Posted on 1/12/20 at 8:50 am to
quote:

quote:
Except there are these things called taxes, agent fees, etc.. not to mention pro-athletes have to pay the “jock tax” aka more taxes in the visiting state games they played in.

Most pro-athletes actually see approximately 35-45% of their contract/endorsement money once it’s all said and done.

There’s also this thing people do with their money called investing. 40% of 215 million is still 86 million. You think that just sits in a savings account?



He made a lot more than that when you add endorsements from some of the largest companies in America.

Thank goodness he got better financial advisers when he came to New Orleans and diversified with some deals where he did not have to risk as much of his own capital (Franworth, Title Boxing, Jimmy John's, Surge, Walk-Ons, Dunkin' Donuts, Happy's Irish Pub, NINE and Waitr which will be a good writeoff). A few more diamond purchases and he would be Latrell Sprewell.
Posted by Powerman
Member since Jan 2004
170705 posts
Posted on 1/12/20 at 8:53 am to
quote:

Pepper Rutland- MMR


I worked there for many years and just knowing what some of the other owners made there is no doubt he is well into the 100s of millions
Posted by Anaximander
3524 Third St New Orleans, LA
Member since Jun 2018
3412 posts
Posted on 1/12/20 at 8:59 am to
quote:

I worked there for many years and just knowing what some of the other owners made there is no doubt he is well into the 100s of millions




And his prison time was back when it was still Club Fed so it was worth it.
Posted by Powerman
Member since Jan 2004
170705 posts
Posted on 1/12/20 at 9:02 am to
Yeah that was before my time. I got to meet him on several occasions and he's a really approachable guy. Still very hands on with the company.
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