forums

Anyone else concerned about Ruiz's alleged net worth?

Acquiring a net worth of 30 billion is **** near impossible. It’s not made by being a lawyer or even being a good investor or business man. There are plenty of those that never reach $1B, let alone $30B. That kind of money is made by introducing a household name that few people live with out.
 
Advertisement
Find out soon enough. Have to think in this market there is trouble getting this closed and/or they will take a huge haircut.
 
3FW said:
Find out soon enough. Have to think in this market there is trouble getting this closed and/or they will take a huge haircut.
Click to expand...

Let's say the SPAC deal even doesn't close. Let's say they then have to sell the asset, or IPO it, or whatever. And let's say absolute disaster strikes and the the asset is re-valued for a horrible 25 cents on the dollar.

Ruiz would still have a total net worth of about $9B from what I understand. Which would rank him 4th out of 32 NFL owners and make him one of the 200 richest people in the world, to give some perspective.

Now if he takes a 50% haircut? He's the richest NFL owner, nipping David Tepper by a little in theory.

No haircut? Well, whatever. $10B, $20B, $30B... doesn't really matter, does it?
 
Advertisement
Cryptical Envelopment said:
Let's say the SPAC deal even doesn't close. Let's say they then have to sell the asset, or IPO it, or whatever. And let's say absolute disaster strikes and the the asset is re-valued for a horrible 25 cents on the dollar.

Ruiz would still have a total net worth of about $9B from what I understand. Which would rank him 4th out of 32 NFL owners and make him one of the 200 richest people in the world, to give some perspective.

Now if he takes a 50% haircut? He's the richest NFL owner, nipping David Tepper by a little in theory.

No haircut? Well, whatever. $10B, $20B, $30B... doesn't really matter, does it?
Click to expand...
It’s almost like some of our own fans want him to fail….
 
Cryptical Envelopment said:
Let's say the SPAC deal even doesn't close. Let's say they then have to sell the asset, or IPO it, or whatever. And let's say absolute disaster strikes and the the asset is re-valued for a horrible 25 cents on the dollar.

Ruiz would still have a total net worth of about $9B from what I understand. Which would rank him 4th out of 32 NFL owners and make him one of the 200 richest people in the world, to give some perspective.

Now if he takes a 50% haircut? He's the richest NFL owner, nipping David Tepper by a little in theory.

No haircut? Well, whatever. $10B, $20B, $30B... doesn't really matter, does it?
Click to expand...
I agree and that is likely why John seems so relaxed. Lionheart keeps sweetening the deal and they brought in Cantor to help get it done.
 
For the record, I hope and would love for Ruiz to help the U be ultra competitive in the NIL age. However, assigning a multi-billion valuation to essentially a pre-revenue company is...crazy. That bubble is gone.
 
Advertisement
Cryptical Envelopment said:
Let's say the SPAC deal even doesn't close. Let's say they then have to sell the asset, or IPO it, or whatever. And let's say absolute disaster strikes and the the asset is re-valued for a horrible 25 cents on the dollar.

Ruiz would still have a total net worth of about $9B from what I understand. Which would rank him 4th out of 32 NFL owners and make him one of the 200 richest people in the world, to give some perspective.

Now if he takes a 50% haircut? He's the richest NFL owner, nipping David Tepper by a little in theory.

No haircut? Well, whatever. $10B, $20B, $30B... doesn't really matter, does it?
Click to expand...

Think it will be cents on the dollar, but still end up extremely wealthy.
 
Cryptical Envelopment said:
Let's say the SPAC deal even doesn't close. Let's say they then have to sell the asset, or IPO it, or whatever. And let's say absolute disaster strikes and the the asset is re-valued for a horrible 25 cents on the dollar.

Ruiz would still have a total net worth of about $9B from what I understand. Which would rank him 4th out of 32 NFL owners and make him one of the 200 richest people in the world, to give some perspective.

Now if he takes a 50% haircut? He's the richest NFL owner, nipping David Tepper by a little in theory.

No haircut? Well, whatever. $10B, $20B, $30B... doesn't really matter, does it?
Click to expand...
This 100%
 
Advertisement
Cryptical Envelopment said:
Let's say the SPAC deal even doesn't close. Let's say they then have to sell the asset, or IPO it, or whatever. And let's say absolute disaster strikes and the the asset is re-valued for a horrible 25 cents on the dollar.

Ruiz would still have a total net worth of about $9B from what I understand. Which would rank him 4th out of 32 NFL owners and make him one of the 200 richest people in the world, to give some perspective.

Now if he takes a 50% haircut? He's the richest NFL owner, nipping David Tepper by a little in theory.

No haircut? Well, whatever. $10B, $20B, $30B... doesn't really matter, does it?
Click to expand...
According to the article I read in a legal publication his worst case scenario is that he simply continues to OPERATE MSP Recovery. Currently has 150 employees including roughly 70 attorneys. He believes that the $33 Billion valuation of the company is understating it's actual worth as an operating entity. The business segment the company is focused on "recovering incorrect insurance payments from primary payers and channeling those funds back to the US Government ... medicare and medicaid ... with a 20% service fee" is a huge dollar volume activity. Based on the modeling and ACTUAL insurance mis payments that he has been able to track using his proprietary software and attorneys ... he has projected annual revenue for MSP Recovery of $3.1 billion in 2023 and increasing to $23.8 Billion by 2026 ... which would make it the largest revenue law firm in the country. They had stated that the "inventory" of mis-paid insurance that they had documented as of last July exceeded $50 Billion dollars. Those mis-payments continue on a daily basis by the US Government so it is like a "renewable" source of business for his company. Will be interesting to see how it all works out.
 
Advertisement
i think the posters who dislike the skepticism over Ruiz’s net worth are mislabeling the skepticism as trolling.

We all want him to be a major benefactor to canes athletics — and he already is — but to question whether he is worth $100 mil or $25 bil is more of an OT business discussion than it is a potshot at the legitimacy of his wealth.

This isn’t a Nevin situation where the money is ill gotten; it’s more speculation on what his worth is and will be.

I’m rooting for him to be worth $25B. But guys like @skeeter make great points in this thread too that shouldn’t be ignored.
 
Rickd said:
According to the article I read in a legal publication his worst case scenario is that he simply continues to OPERATE MSP Recovery. Currently has 150 employees including roughly 70 attorneys. He believes that the $33 Billion valuation of the company is understating it's actual worth as an operating entity. The business segment the company is focused on "recovering incorrect insurance payments from primary payers and channeling those funds back to the US Government ... medicare and medicaid ... with a 20% service fee" is a huge dollar volume activity. Based on the modeling and ACTUAL insurance mis payments that he has been able to track using his proprietary software and attorneys ... he has projected annual revenue for MSP Recovery of $3.1 billion in 2023 and increasing to $23.8 Billion by 2026 ... which would make it the largest revenue law firm in the country. They had stated that the "inventory" of mis-paid insurance that they had documented as of last July exceeded $50 Billion dollars. Those mis-payments continue on a daily basis by the US Government so it is like a "renewable" source of business for his company. Will be interesting to see how it all works out.
Click to expand...
Projected revenue are the key words. How much revenue today?

You really think he has proprietary software that no one else has? An attorney? Do you know how many large software companies there are in healthcare and the payment industries tackling these problems? Yet he has something no one else has?

Its a story, not reality.
 
skeeper said:
Projected revenue are the key words. How much revenue today?

You really think he has proprietary software that no one else has? An attorney? Do you know how many large software companies there are in healthcare and the payment industries tackling these problems? Yet he has something no one else has?

Its a story, not reality.
Click to expand...
It's more than a story. MSP Recovery is investing huge amounts of money, technical time, and staff attorney time, in building what they call their claims recovery portfolio. There might be many smaller, independent entities involved in tracking payment issues in the healthcare industry but I really doubt that there is any entity with the staffing and focus that MSP has marshaled over the past two years. It takes a very specialized legal expertise to go after the large insurance companies that end up being the focus of these "recovery activities". The US Government is the "agency" that has made payment in error ... and we all know how efficient the US Government is (or is not) in tracking anything. If you believe that MSP and it's current activities, business plan, and potential revenue stream are simply "a story" you are significantly underestimating what Ruiz is in the process of building. Now he might not be anywhere as successful in the execution phase as they are planning, but even if they are significantly short of their established goals, there is a very good prospect that within a few years it will be a firm with annual revenues in excess of $ 1 billion.
 
Advertisement
Back
Top