posted on June 18, 2001 07:34:50 AM
http://www.fortune.com/indexw.jhtml?channel=artcol.jhtml&doc_id=202856
6. Pierre Omidyar
Chairman, eBay
Lost $5.00 billion
He's one of the lucky ones: Omidyar still owns a none-too-shabby
$3.65 billion of eBay stock. Even after fulfilling his vow of
donating all but 1% of his wealth to charity by 2020, he'd have,
given his current wealth, tens of millions left over.
posted on June 18, 2001 07:56:06 AM
Mr. Omidyar initiated a radical change to conducting business. It's still in the embryonic stages.
Some (myself included) would like to see him take a more active and visible role within eBay.
While his concept remains the same, the eBay operation has let its roots dwindle. That might a cause for some of the losses.
But, I'm still grateful for his initial insights...
posted on June 18, 2001 08:09:28 AM
I don't begrudge him any of the money he has made and hope he gets back all the lost value and more.
He was at the right place at the right time and, more importantly, did the right things including having a vision of empowering people, hiring the right staff and instilling that vision in them.
The early growth of eBay and the Community concept was no accident. He believed in people, worked on their behalf, listened to them and in return received their support and great financial rewards.
When he had to turn control over to the hired guns that the venture capitalists brought in was when the problems really started.
I believe he will go on to use his eBay wealth to do constructive things thru non-profit endevers.
I wish there was a way he could return to control of eBay. We and eBay would both be better off in the long run if his vision was again being followed.
Yes, he's not perfect. The "It's only a dollar" statement proved that but I would much prefer him and the early eBay staff over Queen Meg and her integrity challanged band of MBA's.
I wish him only the best and I'm thankful and appreciative for the opportunity he provided me.
