Extraordinary offer for investing
Today's story began several years ago when Hellmuth was presented with an opportunity to invest in a start-up company. Alan Keating shared this story in an interview for the Doug Polk Podcast. It was this American poker player who brokered the investment opportunity for Hellmuth. Keating was contacted by an entrepreneur who wanted to bring in major investors to his start-up.
Alan invited several major investors to invest and made Hellmuth himself an offer for an attractive, very low-risk investment. Poker Brat could invest $15,000 for a 4 percent stake in the company. Hellmuth, however, rejected this condition. Why? He trusted the judgment of other experienced investors who also decided to reject the offer. A fatal but understandable mistake.
The $15,000 could have been as much as $80 million
After more than a year, Keating discovered that the company was valued at $2 billion. The 4% stake that could have been in Hellmuth's hands was estimated to be worth about $80 million. When he announced this to Hellmuth, it wasn't easy at all. He described Hellmuth's reaction as a roller coaster of emotions. "He was upset for four or five days when he found out."
Even though Hellmuth has accomplished everything he can in poker, this investment "bad beat" is a reminder that life isn't just about cards. Losing $80 million certainly hurts, but with the personality of a professional player, his personality suffers more. Phil is a guy who prides himself on his instincts, whether at the poker table or in business, so just missing out on a bargain will surely bother him more than losing the money he could have made.
Sources - Pokernews, Codigo Poker, YouTube, PokerGuru