Anyone else concerned about Ruiz's alleged net worth?

[Katzenboyer]

Not a patent .. but APPARENTLY he / his firm .. have developed software to search insurance payments AND IDENTIFY payments that have been made in error by Medicare when a primary / secondary insurer should have covered the procedure. The savings to the US government would be billions annually. Once the new security listing is approved by the securities exchange commission (if it happens!) .. the new stock name MSPR would be listed on NASDAQ .. his initial documentation stated it would be listed based on a PE ratio of 10.5:1 .. and "based on that and the projected earnings his 70% ownership of the firm would have a STOCK VALUE in excess of $20 Billion dollars". THAT IS NOT CASH .. that is restricted stock shares. Generally in a new offering 10-20% of the company is sold .. that creates the trading volume on the exchange. The remaining stock is "restricted" and can be sold in small units only with securities exchange approval .. unless his company is acquired .. then he is bought out. So .. he is wealthy in his own right via his class action law firm .. can personally fund $10 million NIL deals. Things like building a $500 million dollar stadium .. or buying the Dolphins .. are ALL predicated on the securities activities taking place.

This is partially correct.

The "proprietary software" is not his product. He will not be selling it. It's simply a way of locating claims.

Second, the MSP Recovery Act is rear-looking. Basically, Ruiz's value is in the claims he's pursuing in which insurers are on the hook for payments already made by Medicare/Medicaid. There is value in those claims (although again, I have a very hard time seeing how it's valued in the billions, since the company hasn't generated revenue despite the firm pursuing these claims for years).

But there isn't a huge value in the claims moving forward. This type of practice is no longer happening as much as it has in the past, and certainly not to the point where billions will be pouring in annually.

The other issue is that Ruiz will face stiffening competition. He's not the only firm that handles these types of claims, and the valuation seems to be based off the assumption that he has a monopoly on this work. He doesn't.

 

[joseermonfils]

How many threads yall gonna start talking about this man..yall weird

 

[The Svengali]

I don’t trust anyone from Miami…especially anyone talking about money. Scamming is a full on industry down there.

But if the checks don’t bounce, then oh well.

 

[Katzenboyer]

You act like that is the only company he owns.

Ruiz is an incredibly successful lawyer. But that doesn't put you in the "let's build a stadium using my own funds and buy the Miami Dolphins" territory.

If that were the case, David Boies would be the richest man in America.

 

[JayCane20]

Appreciate the info. I didn't he was doing this ON UMs behalf.

I guess Nevin nonsense has given me PTSD lol.

Every deal goes through University compliance and compliance is a neutral party to the university and the NCAA. People need to stop worrying. We’re doing a lot less sketchy stuff than A&M, Georgia, Texas, etc

 

[Katzenboyer]

I guess Nevin nonsense has given me PTSD lol.

Probably what I'm suffering from, too.

Anyways, I hope I'm wrong, the SPAC deal closes, and none of this ends up mattering.

 

[JD08]

I think there are two issues here.
1. Counting chickens before they're hatched. Once the deal's closed, the money's in the bank. So hopefully, the deal gets closed.
2. Having a public booster throwing money around gives people the shudders because of Nevin Shapiro.

 

[JHallCanes]

You’re getting caught up over nothing. Men who open gigantic corporations like the one he’s opening have other businesses that create them millions in revenue as well.

Fun fact: most millionaires/billionaires didn’t get their wealth off of one business. They usually have way more revenue streams….and PS they also use a lot of credit and pay it back. It’s never their own money.

That last part is 1000% accurate and what separates them from us normal people that have a different relationship with debt

 

[Tony4Canes]

Why doesn’t his cigarette racing team have a name??

 

[CANEMC]

Ruiz workin those NIL deals like...

 

[Billy D Williams]

Worth keeping a close eye on. If there is even the slightest irregularity the ncaa, sec operatives and every media hack will blow it up hoping to bring the U down. Trust me.

 

[DusseDez]

I’m more worried about my broke *** money lol. Mr Ruiz if you see this and you trying put a brother on so I can get some of that “funny money” or whatever holla at your boy

 

[RVACane]

... I wonder what Rad and Mario think about his style - him and junior (who I can't emphasize enough is just a young kid who I think graduated UM like last year) appearing in almost daily twitter spaces. tweeting NIL deals every night. Suing the NCAA.

 

[BishopEli]

Already said my piece on this, hopefully all is good because we will be scrutinized harder than the bamas and A&M’s of the world that’s a fact.

 

[Zbrod95]

That last part is 1000% accurate and what separates them from us normal people that have a different relationship with debt

Fiscal and financial education are completely untaught so people don’t know unless they seek the education themselves. No one understands the gold mine a 700 credit score is. My dad made sure I knew because no one taught him and he had to learn himself.

 

[Canesfreak]

Ruiz doesn't own a patent. He has no physical product to sell.

The value of his firm is that he files claims against large insurance companies who should have been charged for money paid by Medicare.

Those claims are valuable, but they aren't revolutionary, and I have a hard time seeing how they'll generate enough revenue to make him effectively the most lucrative law firm in the country in five years' time (which is what is being projected currently).

And that's before we even get into Sternberg, who seems to have trouble follow him after every investment Lionheart makes.

You are correct. My only point is that this gets monetized for Ruiz if and when the S-1 gets approved (one of the contingencies for closing). He isn't depending on future revenue to get his billions.

 

[JayCane20]

The NCAA is so toothless on this. They’re not going after a billionaire lawyer with a full legal team reviewing these deals - for a school that’s doing less than (more than 100% less NIL $ than) Texas, Texas A&M, Alabama, Georgia, etc

 

[AllAboutTheU13]

I was thinking of asking him about when he expects the IPO to go through in one of those Twitter spaces. It was initially planned for Dec 2021 but haven’t seen a new date yet. If he’s getting a $30B+ valuation, I think worst case scenario is it drops to ~$5-10B, which would still make him filthy rich. Admittedly I don’t know anything about their business, but anytime you’re working in something as large as Medicare/Medicaid, your potential can be sky high. Valuations are much more heavily driven by revenue/profit potential than current revenue/profit. Tons of start ups operate at a loss and generate very little revenue, but have huge valuations based on potential revenue/profit. If Ruiz has some large contracts lined up with health insurance companies or the government, a $30B valuation could very well be on the light side.

From the Canes perspective, worst case scenario is he has a little less money and the stadium idea doesn’t happen, which was pie in the sky anyways. Nothing appears illegal or fishy at all to me, so I’m not sure why anyone is worrying about it on that front. Ponzi schemers and other ilegal businesses don’t file for IPOs, in fact they do they opposite, they hide from public light as much as possible. Going through an IPO exposes every detail of your company, so if they are taking that step, the only bad thing I can imagine happening is he gets a lower valuation than he hoped for.

 

[JHallCanes]

Fiscal and financial education are completely untaught so people don’t know unless they seek the education themselves. No one understands the gold mine a 700 credit score is. My dad made sure I knew because no one taught him and he had to learn himself.

Yep I grew up having no clue

I never would have even guessed

I started hanging out with rich people and was like “wtf” this is way better lol

 

[brock]

Miami “fans” are the worst and weird