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Bacardi buys Patron

Cliff

Nitro Member
#2
Bacardi F/C...... Over the years, there have been a number of alcohol sponsored cars, like the Bud cars, Miller Beer, Smirinoff Vodka, etc etc
 
#5
I guess John Paul is done, Do you think he could spend that amount of money in his lifetime? Totally agree that is why Alexis pulled herself into retirement? These thing don't happen over night.
 

Jimbo

Nitro Member
#6
I find John Paul life story to be very interesting since he started with very little money and slept in his car for a few years when he was trying to start his company.
I admire the fact that he has really paid back the homeless shelters where he showered and received food over the those hard years!

To me he is the American Success Story of how to become wealthy!!

Jim Hill
www.nostalgicracingdecals.com
 

Jeff

Nitro Member
#7
Bacardi has owned 30% of Patron for a decade .... they are just expanding their ownership. I honestly don't think funding has anything to do with whether Alexis drives a FC or not .... that is the case with most people, but not her.

John Paul's cash out later this year will "only" be 70% of 5.1 billion.... John Paul started Patron in 1989 with a partner who died in 2003. JP bought out the partners stake from his estate in 2008, becoming Patron's first majority shareholder, at the same time that Bacardi acquired their 30%.

JP is a smart person who has done good financially. I'm a huge fan of people who operate under the shadow of the Golden Rule .... he is one.
 
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Nunz

Nitro Member
#8
Bacardi has owned 30% of Patron for a decade .... they are just expanding their ownership. I honestly don't think funding has anything to do with whether Alexis drives a FC or not .... that is the case with most people, but not her.

John Paul's cash out later this year will "only" be 70% of 5.1 billion.... John Paul started Patron in 1989 with a partner who died in 2003. JP bought out the partners stake from his estate in 2008, becoming Patron's first majority shareholder, at the same time that Bacardi acquired their 30%.

JP is a smart person who has done good financially. I'm a huge fan of people who operate under the shadow of the Golden Rule .... he is one.
I agree Jeff. And if your net worth has a "B" in front of it, I doubt it's difficult to shake out 2-3-4 Mil/yr to race, if you wanted to. But how they spend their money is the DeJorias' business. I'm a fan of Alexis, and do hope she comes back in some capacity in the future. And, also a really big fan of her dad and what he has accomplished.
 

Rajunz

Nitro Member
#9
I totally agree, Alexis has her reasons for retiring, but $$$ is not one of them. I do hope that we see her back in some limited capacity.
 
#11
she'll be back, when her daughter goes to college or can make it on tour with her mom, she will have enough money to do whatever she wants.
But remember, drag racing is the best way to turn billionaires into millionaires
 

ironpony

Nitro Member
#12
she'll be back, when her daughter goes to college or can make it on tour with her mom, she will have enough money to do whatever she wants.
But remember, drag racing is the best way to turn billionaires into millionaires



so, is this the new saying?
if you want to be a millionaire racing start with a billion..................
 

none

Nitro Member
#15
Hey Bob,
No you don't.
How about this, if you had a 1% stake in Patron' 1%, that's 51 MILLION dollars.
If you have 1 billion dollars and you put it a pass book for 2% annual interest, that's 20 million a year.......
Without ever touching the principal.

I LOVE math......
Alan
 

none

Nitro Member
#16
Here's my favorite comparison, and you can do your own math.
In seconds, like your watch goes tick tock, tick tock......
1 Million seconds is 11.5 days (Feel free to count them)
1 Billion seconds is over 31 years.
So if you have a Billion Dollars you can spend a million every 11.5 days and you won't go broke for over 31 years. If you never made another dollar.

Alan
 

Randy

Nitro Member
#19
Not sure you guys understand the difference between a Million and a Billion........

Alan
A billion is a thousand million. To say she quit over $4M a year is laughable. John Paul Dejoria is worth almost $4 billion.

From Forbes:

https://www.forbes.com/profile/john-paul-dejoria/
  • John Paul DeJoria is the founder of tequila maker Patrón Spirits Co. and cofounder of hair care company John Paul Mitchell Systems.
  • He slept in his car and sold shampoo door-to-door before he teamed up with Paul Mitchell in 1980 and turned $700 into John Paul Mitchell Systems.
  • In 1989 DeJoria and partner Martin Crowley acquired a stake in boutique tequila maker Patrón and have grown it to sales of more than $800 million.
 

fatcat

Nitro Member
#20
I'd like to see the word "billion" baned. People don't get it. A million is a 6" stack of $1000 bills, a billion is a stack as high as the Washington monument. And before somebody says they don't make $1000 bills, they used to
 

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