Featured Articles

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC has announced that it will begin volume production of 16nm FinFET products in the second half of 2015, in late…

More...
AMD misses earnings targets, announces layoffs

AMD misses earnings targets, announces layoffs

AMD has missed earnings targets and is planning a substantial job cuts. The company reported quarterly earnings yesterday and the street is…

More...
Did Google botch the Nexus 6 and Nexus 9?

Did Google botch the Nexus 6 and Nexus 9?

As expected, Google has finally released the eagerly awaited Nexus 6 phablet and its first 64-bit device, the Nexus 9 tablet.

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 31 May 2013 11:19

CNET founder crashes

Written by Nick Farrell



Bankrupted by lifestyle and daft investments

It could happen to anyone, well not us of course, but the bloke who made millions out of flogging CNET during the dotcom boom is now bankrupt. Halsey Minor, 48, founded CNET, a television network and web brand focused on software and technology, in 1994. He flogged CNET to CBS in 2008 for a reported $1.8 billion.

He had some other successes too. He was an early investor in OpenDNS. He also Pumped $6 million into a voice over internet startup called Grand Central that would later be purchased by Google, and turned into Google Voice, for $50 million in 2007. Minor also did really well investing in Salesforce.com, a company that provides cloud computing solutions.

But he made a few dodgy investments which were well out of his sphere of knowledge and appears to have come unstuck. A real estate investment, a Los Angeles home he paid $20 million for in 2006, was later put on the market for just over $11 million. He lost $50 million in a divorce settlement with wife Deborah. He lost $21.6 million in the Charlottesville Landmark Hotel failure. He also bought the historic James River Estate for $35 million in 2007 and it stood empty and in disrepair for years until preservationists successfully got the crumbling mansion placed at auction in 2013.

Then there was the folly of a replica of living quarters at the palace of Versailles in France, Minor also bought the $21 million San Francisco mansion in 2007, but neither he nor his family ever occupied it He also wasted fortunes on fine art. The city of San Francisco would find site the 22-room building as abandoned, due to its state of disrepair, by 2011.

Minor has since filed Chapter 7 bankruptcy and cites liabilities of $50 million to $100 million to 60 creditors, while claiming personal assets of between $10 million and $50 million.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments