While reading through the Forbes Richest Men in Sports, I came across Texas Rangers owner Tom Hicks. Now I’ve flipped some websites, and I’m sure you have too. We make a few bucks here and there. Hicks makes our thousand dollar profit look like fractions of a penny.
Forbes says Hicks “made fortune in soda: bought Dr Pepper, Seven-Up for $45 million, flipped 2 years later for $700 million.”
That’s right. $700 million in 2 years.
Now if we brought those numbers down to our terms, you might say “hey I wouldn’t be happy at all if I bought a website for $45 and 2 years later sold for only $700″. Ya, you’re probably right. $700 after owning and developing a website for 2 years is not a lot of money. But you can’t simply use the same profit ratios. Would you be happy if you bought a site for $450 and then sold it for $7000 two years later? You probably would.
The higher in dollar amounts you get, the more impressive his flip looks. I’ve never heard of a business being flipped so fast for so much profit. There isn’t really a point to this post. I just wanted to share with everyone how badass Tom Hicks is. For more info about him, click here. He is currently #380 on Americas Richest List.
3 Responses
Ales Hemsky
September 22nd, 2007 at 12:32 pm
1must be nice…. flip something like that and then buy some of the best sports franchises in the world. Owning the Texas Rangers, Dallas Stars & Liverpool must be fun!
Drupal
September 27th, 2007 at 8:51 pm
2I didnt realize flipping websites can be really profitable. You hear about the stories of business.com selling for 1M+.
Online Money
September 28th, 2007 at 7:02 am
3Nice article. Thanks for the info.
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