June 6, 2013

Billabong Needs A Loan – BRW Knows Someone

Image by Arsineh Houspian via BRW

BRW have released their annual Rich 200 list and if you flick over to page 110, Billabong founder Gordan Merchant is there at a sizeable $325 million. He made that from selling some of his shares in the brand years ago and wisely investing since then. So what’s interesting about, this? Nothing much, except that according to this article, his net worth is now THREE TIMES THE MARKET CAPITALIZATION OF BILLABONG as of last Tuesday. Three times. If you have shares in the company, which right now are sitting at 22c, you might be a little miffed that this was the guy who knocked back TPG’s $3.30 bid last year. Read BRWs excellent article here.

by POP Magazine