As you might correctly guess, John and David are both multi-billionaires. They are the only owners of Two Sigma, and they have equal voting power over all company decisions.

There's just one problem: They hate each other.

Actually two problems.

Not only do they hate each other and can no longer communicate over basic firm functions, John Overdeck is now going through a divorce, which has thrown another wrench into their already very messy lives.

David Siegel, Michael Bloomberg, and John Overdeck (Photo by Craig Barritt/Getty Images for Bloomberg)

How do you split a $60 billion hedge fund?

John Overdeck is a math genius. Math is in his blood. His father was a senior mathematician for the NSA. His mother was a director at Computer Sciences Corporation, a pioneer in the IT field. In 1986, when he was 17, John won a silver medal at the International Math Olympiad. He earned a degree in math and statistics at Stanford before enrolling in Stanford's graduate school to earn a Ph.D in… get this… math.

John never got that Ph.D from Stanford. In the 1990s he was recruited away from school to join a recently-launched math-focused hedge fund called D.E. Shaw. At D.E. Shaw, John quickly rose to the position of managing director of risk management.

More importantly, while he was at D.E. Shaw John caught the attention of the firm's youngest Senior Vice President, a 30-year-old fellow math nerd named Jeffrey Preston Bezos.

Jeff had recently married his research assistant, the future MacKenzie Scott, and in 1994 Mr. and Mrs. Bezos quit the hedge fund and drove across country in a Volvo to Seattle, where he planned to launch an e-commerce business. Jeff wrote the business plan while MacKenzie drove. The business was originally called "Cadabra." Cadabra soon was renamed Amazon.com.

One of the first people Jeff recruited to join him in Seattle was John Overdeck. John's title said Vice President, but he was really a Jeff Bezos's technical assistant.

John worked at Amazon for two crucial years, from roughly 1995 to 1997. I couldn't figure out exactly when he joined or when he left, but considering Amazon went public in May of 1997, it's probably safe to assume that John worked through the IPO, made a small fortune and decided to take a few years off to enjoy his riches.

FYI, on the IPO date, Jeff Bezos ended the day with a net worth of $120 million. A year later he was a billionaire. By late 1999 Bezos was worth $10 billion. After the dotcom bubble exploded in 2001 Bezos' net worth crashed all the way back down to $2 billion.

That same year John and another D.E. Shaw alum named David Siegel, decided to launch a hedge fund. They called it Two Sigma. There was actually a third founder named Mark Picard, but he retired in 2006.

Two Sigma

Right out of the gate Two Sigma raised over $100 million from investors including Jeff Bezos.

In its first decade of operation, Two Sigma returned an average of 30% per year to its investors. This was significantly higher than the average return generated by the average hedge fund in the same time period.

Two Sigma's success was due to its use of cutting-edge technology and its focus on quantitative analysis. The firm employed hundreds of mathematicians, physicists, and computer scientists to develop trading algorithms that could exploit market inefficiencies.

As we stated previously, Two Sigma is the third-largest hedge fund in the world today with $60 billion under management. John and David's former firm, D.E. Shaw, manages around $50 billion.

And, as we stated previously, despite all their success, today John and David hate each other.

Over the years John and David have clashed plenty of times over everything from succession planning, promotions and investment decisions. That's not abnormal. What is abnormal is when the animosity between the owners gets so bad that the fund is forced to make an SEC disclosure that basically says "our founders hate each other, they're unable to make basic decisions together and that might turn into a risk for investors."

John and David haven't appeared at event together in years. The photo above with Michael Bloomberg is from 2017. It's the most-recent photo of them together I could find in Getty. Insiders claim they frequently "snipe" at each other during meetings in front of subordinates.

The friction is making it difficult "to retain or attract employees (including very senior employees) and could continue to impact the ability of employees to fully implement key research, engineering, or corporate business initiatives."

John and David each have equal voting rights (one vote per person). They are apparently stalemating on every single decision, big or small. There's no mechanism for breaking the stalemate. And that's a huge problem considering what is going on in John's personal life.

John and Laura Overdeck via Getty

John's Divorce

In 2002 John married Laura Anne Bilodeau. In 2011 John and Laura established the Overdeck Family Foundation which primarily focuses on STEM education charities and research. Guess what the "M" in "STEM" stands for… MATH.

In 2012 Laura founded a non-profit called Bedtime Math, a free website and app with the goal of making "math a fun part of kids' everyday lives, as beloved as the bedtime story."

Unfortunately that love of math is not helping David, John and Laura figure out how to split Two Sigma.

Their equity stakes in Two Sigma have given both John and David a net worth of $7 billion. John is one of the richest people in New Jersey.

Unfortunately, having a net worth of $7 billion that is largely based on the equity value of a private company doesn't mean you have billions in liquid cash lying around to payout a divorce settlement. And that's where a new conflict has arisen.

After 20 years of marriage, WITH NO PRENUP, John and Laura are divorcing. Common sense would say that Laura is entitled to a payout of $3-3.5 billion. John can't give her that payout without selling part of his stake in Two Sigma. He doesn't want to do this because selling some of his equity would give David majority ownership, and therefore full control. And in another twist, David doesn't even want to be in control. He wants to retire, but he DOESN'T want John to be in charge.

This all adds up to a serious quagmire that won't be easily solved, no matter how much you love math.

Read more: They Co-Own A $60 Billion Hedge Fund. They Hate Each Other. One Is Getting Divorced (With No Prenup). And It's A Huge Mess.

But who was the third richest person the world in the middle of the 1990s?

Larry Ellison? Nope.

One of the Waltons? Nope.

One of the Koch brothers? Nope.

Some Saudi king or prince? Nope.

Would you believe me if I told you that the third richest person on the planet was a random Swiss orchestra conductor name Paul Sacher?

(Photo by Erich Auerbach/Getty Images)

Early Life

Paul Sacher was born on April 28, 1906 in Basel, Switzerland. He was the son of train station cargo worker.

Paul began studying violin at age 6. He paid for his education by giving violin lessons to kids. He studied music at the Basel Conservatory under world-renowned conductor, Felix Weingartner.

In 1926 – at just 20 years of age – Paul founded the Basel Chamber Orchestra. Within a few years the orchestra also featured a chamber choir.

In 1933, Paul founded a school called the Schola Cantorum Basiliensis, which he envisioned as an institute to study all kinds of classical music.

Hoffmann-La Roche

This detour will make sense in a moment…

When a Swiss couple married 100 years ago, it was common practice for the bride and groom to adopt a hybrid hyphenated last name. For example, if Joe Smith married Jane Doe, their post-marriage names would be "Joe Smith-Doe" and "Jane Smith-Doe."

So when Fritz Hoffmann married Adele La Roche in 1895, the couple's new last name became "Hoffman-La Roche."

A year after getting married, Fritz founded a pharmaceutical and chemical company which he called, Hoffman-La Roche.

In its early years the company produced, packaged and sold various vitamins. Roche was actually the first company to synthesize vitamin C for mass marketing.

Today, Roche is the largest pharmaceutical company in the world, generating around $60 billion in revenue in 2020.

Have you heard of the American biotech company Genentech? Genentech is wholly owned by Roche.

The company is primarily known for its cancer and HIV treatment drugs but here's a quick list of drugs developed and/or patented by Roche over the decades:

• Valium
• Lithium
• Tamiflu
• Rohypnol
• Boniva
• Accutane

Fritz Hoffman died on April 18, 1920. Upon his death, his son Emanuel inherited full ownership of the family business.

Maja Stehlin

One year after his father's death, Emanuel Hoffman married a sculptor/art enthusiast named Maja Stehlin. Emanuel and Maja soon put together a collection of works from painters like Max Ernst, Pablo Picasso, Joan Miro and Paul Klee.

Emanuel and Maja had two children; Luc and Vera.

Tragically, Emanuel died in 1932 in a car accident at the age of 36.

Upon Emanuel's death, Maja inherited full ownership of Roche.

And in 1934, Maja remarried a local musician named Paul Sacher.

Paul eventually adopted Maja's two young children, Luc and Vera.

Paul Sacher – Unlikely Billionaire

With his newfound wealth, Paul took his passion for classical music to a whole new level. He paid for orchestras to travel the globe. He commissioned more than 80 new classical works and funded continual public performances at his Basel Chamber Orchestra.

Paul also launched the Paul Sacher Foundation which, among other actions, curated a library in Basel that included the world's most important collection of musical manuscripts. Today the library houses manuscripts and letters from dozens of classical music's most important composers.

When Paul wasn't indulging his passion for classical music he was overseeing Hoffman-La Roche. He spent more than six decades as a board member, playing a crucial role in steering the company from a post-WW2 low point to global domination.

Maja died in 1989 at the age of 93. At that point Paul became the largest individual owner of Hoffman-La Roche. That is how Paul Sacher, humble violinist/orchestra conductor, became one of the wealthiest people on the planet.

Immediately after Maja's death Paul was worth around $7 billion.

At the time Paul Sacher died on May 26, 1999 at the age of 93, he was worth $13 billion. He was the richest person in Europe. For all of the 1990s up to his death, Paul Sacher was the third-richest person in the world behind only Warren Buffett and Bill Gates.

Upon Paul's death, a roughly 9% stake in Hoffman-La Roche was divided by his step-children. Today the fifth generation of Hoffman heirs, an estimated 15 people, control a roughly $40 billion fortune. They are one of the richest families in the world. Each year those 15 heirs split roughly $700 million in dividends alone 🙂

Read more: In The 1990s, The Third-Richest Person On The Planet (Behind Gates And Buffett) Was… A Swiss Orchestra Conductor???

The incredible rise of Ryu into the billionaire's club started when Kumyang announced its completed research into the field of lithium batteries. A half-year report released in the middle of last year revealed that the company had "acquired excellent results in electrical characteristics evaluation and safety evaluation by authorized testing and certification bodies," a clear indication that the company was ready to meet surging demand for the batteries.

Jan Woitas/picture alliance via Getty Images

Investors agreed, and the company's stock had a surge of its own, spiking by nearly 2000 percent practically overnight. The company hit a market cap of almost $5 billion, and as Ryu is reportedly its largest stockholder with a stake of around 40 percent, his net worth hit the billion-dollar mark along with it.

Forbes points out that the company's flash of success could prove to be temporary, and it still has to prove itself in a complex market in which it has no prior experience. But it appears to be investing heavily in the new business, having reportedly announced both a $70 million manufacturing plant in a $25 million research and development center in the port city of Busan.

Ryu has been with Kumyang since 1998, when he came onboard as the company's new finance manager. Three years later, he was CEO, and for most of that time the company was focused on the manufacture of certain agents for making plastic foam, used not just in sneakers but floor mats, synthetic leather, and other products.

But that's not as profitable as rechargeable lithium batteries, which have become a boom industry in Korea. Kumyang isn't the only Korean company to see high spikes in revenue from getting into the battery business, as companies like Ecopro and Chunbo have seen similar trajectories in recent years.

Read more: CEO Of Obscure Plastic Foam Company Becomes Billionaire After Branching Out Into Rechargeable Batteries

Multiple sources close to the situation say Pinault is "in talks" to purchase the large stake in CAA, which could get a valuation of at least $7 billion, according to those same sources. But the deal is happening at a tumultuous moment for not just CAA but every agency in Hollywood, in the midst of a overlapping strike by both the Writer's Guild of America and the Screen Actors Guild, and even though the talks are said to be "advanced" the deal could still dematerialize.

Presley Ann/Getty Images

CAA is one of the primary talent agencies in Hollywood, and would be another marquee holding of Pinault's if his efforts to purchase it prove successful. Other notable companies controlled by Pinault through the holding company Artemis include the auction house Christie's, sportswear brand Puma, French news magazine Le Point, and many others.

The agency was founded in 1975 by "super-agents" Michael Ovitz, Ron Meyer, and others, and in 2010 the private equity firm TPG purchased a 35 percent stake in it, going on to acquire another 18 percent four years later. Back then, the company was valued at some $1.1 billion. One of the many performers represented by the agency happens to be Pinault's wife, Salma Hayek.

The sale would solidify and expand ties between the luxury fashion and entertainment industries already explored by Pinault rival LVMH, itself controlled by billionaire Bernard Arnault, which recently named Pharrell Williams as Louis Vuitton's men's creative director.

Neither Pinault nor representatives for CAA or TPG have commented publicly on the reportedly in-the-works deal.

Read more: French Billionaire Francois-Henri Pinault Considering $7 Billion Acquisition Of Creative Artists Agency

A source reportedly close to the situation said that the EU court will take up Abramovich's challenge to economic sanctions imposed on him following the invasion of Ukraine by Russia. The EU described Abramovich as an "oligarch who has close ties to Vladimir Putin," and in May of last year Abramovich filed a challenge against the sanctions, which among other things cost him his ownership of Chelsea FC. Now, Abramovich is arguing before the court that the sanctions were imposed not because of any substantive ties between himself and Putin but because of his high public profile and fame. As the source put it:

"He was not sanctioned because of evidence relating to the criteria: he was sanctioned simply because politically, the most famous Russian businessman had to be even if this is a manifest error."

Peter Macdiarmid/Getty Images

Abramovich's court hearing commenced on July 13, and his lawyers did indeed argue that his fame made him a target of the EU. Politico quoted the arguments made by his attorney before the court:

"Celebrity is a double-edged sword. Ask yourself this question: When the war started, did this very famous Russian have a chance of avoiding the restrictive measures? The answer is no."

Abramovich's efforts to get the sanctions lifted are an uphill battle. Even if he wins this specific case, EU laws give the Council of the EU latitude to impose new ones on different grounds.

Read more: Russian Billionaire Roman Abramovich Challenges EU Sanctions In Court

A casual observer may have assumed that Elon's fortunes have always just gone up… like one of his rocket ships. That's not the case. Elon's net worth is still severely impacted by the stock price of Tesla. Elon directly owns 13% of Tesla's outstanding shares and has 304 million exercisable options.

• On Monday, Tesla's stock price closed at $290 per share. At that level, Tesla's market cap is around $910 billion.
• On January 6, 2023, Tesla's stock was $113 per share. At that level Tesla's market cap was $357 billion.

On January 6, Elon's net worth was $125 billion. On Monday, July 17, Elon's net worth reached $250 billion. That's a $125 billion gain in six months (192 days to be exact).

(Photo by Chesnot/Getty Images)

Why The Tesla Stock Roller Coaster?

Tesla's stock price dropped between mid-2022 and early 2023 for a number of reasons. First, the broader stock market was in a bear market. Second, Tesla faced some specific challenges, such as supply chain disruptions and production problems at its new Gigafactory in Berlin. Third, there was some investor concern about Tesla's valuation, which was seen as being very high.

Tesla's stock price increased right back up to its previous highs over the last few months. This is due to a number of factors, including:

• The broader stock market has rebounded, and Tesla has benefited from this.
• Tesla has started to address its supply chain challenges and production problems.
• Investor sentiment towards Tesla has improved, and there is now more confidence in the company's future.
• Tesla has released some new and exciting products, such as the Model Y Plaid and the Cybertruck.

Speaking of the Cybertruck. On Saturday, Tesla announced through a Tweet that it had finally built its first Cybertruck… two years behind schedule, but I guess better late than never. Full-scale production is expected to start later this year. The Cybertruck aims to compete with electric SUV offerings like the Ford F-150 Lighting and the Rivian R1T which had been eating Tesla's lunch.

What About SpaceX?

Keep in mind another large chunk of Elon's net worth is related to SpaceX. He currently owns 42% of SpaceX. In January of this year the company was valued at $137 billion. One week ago, some existing SpaceX investors sold their shares on the private market at $81 a share, implying a valuation of $150 billion.

Assuming Elon was not one of the sellers, this valuation increase added $3 billion to Elon's paper net worth.

Elon's Fortune – Where Does It Go From Here?

Elon is still a long ways away from his all-time peak net worth of $340 billion. He achieved that mark in November 2021. At that level he was briefly the richest human being in modern history, topping John D. Rockefeller's inflation-adjusted peak wealth.

If you had asked me where I thought his fortune was going at that point, I would have told you "next stop, $500 billion." Instead, it dropped to that January 2023 low of $125 billion. And as you now know, it's gone back up to $250 billion. If you were placing a bet, where would you guess Elon's fortune goes next?

Read more: Elon Musk Is A Quarter-Trillionaire Once Again

ChatGPT is not the the only "Large Language Model" Artificial Intelligence application. There are literally thousands of companies raising ungodly amounts of venture capital funds to build AI services. All of these services promise to make our lives exponentially better while simultaneously putting lots of people out of work and eventually nuking the planet.

Did you play around with DALL-E a few months ago? Built by ChatGPT's parent company OpenAI, DALL-E creates images based on any random user prompt. For example, I asked DALL-E to "create an image of an octopus in a pool, in a desert, wearing sunglasses," and here was the output:

And then I asked it to "create an image of Nicolas Cage licking an ice cream cone in the style of Salvatore Dali," and here was the output:

A DALL-E rival is called Stable Diffusion. Stable Diffusion is the product of parent company Stability AI. Unlike DALL-E, which is mostly used to create goofy illustrations, Stable Diffusion's goal is create hyper realistic-looking images that are actually AI generated.

Stability AI wants you to be able to request an image of Nicolas Cage eating an ice cream cone and receive a result that's indistinguishable from a real-life photograph of the actor enjoying a cold dessert.

Unfortunately, Stable Diffusion and parent company Stability AI have already hit a few legal speed bumps in their short lives.

In January, Getty Images sued Stability AI alleging Stable Diffusion ingested 12 MILLION copyrighted images from Getty to train its models. The lawsuit accused the app of "brazen infringement of Getty Images' intellectual property on a staggering scale… without permission … or compensation … as part of its efforts to build a competing business."

Copyright lawsuits are not the only legal battle keeping Stability AI's lawyers extremely busy and highly paid this summer.

Going back in time a bit, Stability AI was founded in early 2020 by Emad Mostaque and Cyrus Hodes. As co-founder and CTO, Cyrus Hodes owned 1 million shares of Stability AI, exactly 15% of the company's total equity.

According to a lawsuit that was filed last week, Cyrus Hodes alleges that was duped into selling those 1 million shares (his full 15% stake) back to Mostaque over two transactions for an amount that in retrospect appears criminally-low. The first transaction happened in October 2021 and the second occurred in May 2022.

Hodes' lawsuit claims that Mostaque convinced him to sell his stake because Stability AI was "essentially worthless." Based on that belief and advice, Hodes agreed to sell all 1 million shares to his co-founder for…

$100

By the power of paper valuation math, if 15% was worth $100, the company as a whole was worth $666.66. That unlucky number should have been a sign for Cyrus Hodes.

Please recall that Hodes' second transaction occurred in May 2022. You can imagine his surprise when just THREE MONTHS LATER Emad Mostaque announced that Stability AI had raised $101 million in venture capital funding, in a round that valued the company at…

$1 billion

I can only imagine Cyrus Hodes' face when he read the news. He was probably at a coffee shop, checking headlines on his laptop. What could that possibly have looked like? Stable Diffusion, "please create an image of a furious tech bro at a coffee shop reading his laptop the moment he finds out he lost a huge fortune…"

Created by Brian Warner using Stable Diffusion

Or maybe he wasn't at a coffee shop, he was at a climbing wall when an alert came through to his phone…

Created by Brian Warner using Stable Diffusion

Indistinguishable from real life.

Unfortunately, the news gets a little worse. According to Hodes' lawsuit, in recent months Stability AI has been in talks to raise another round of funding at a valuation of…

$4 billion

By the power of valuation math, and as reported in the lawsuit:

"At that valuation, the shares the Mostaque purchased from Hodes for $100.00 would have a market value of over half a billion dollars."

Ouch.

Just to reiterate, we're not talking about a guy who sold an early stake in Google then five years later was angry that the company grew to be worth a fortune. We're talking about a guy who sold his stake for $100, and then 90 days later learned he should have been worth $150 million. Then a year later thinks it could have been worth $500 million.

Hodes' lawsuit claims:

"Mostaque's purchase of these shares from his co-founder and minority shareholder for a mere $100.00 epitomizes corporate greed at its worst and simply shocks the conscience. As alleged below, the purchase of Hodes's shares were plainly based on fraud, misrepresentations, and breaches of fiduciary duty. Those transactions should be rescinded and Hodes's ownership interest in Stability AI restored."

Stability AI called the suit "without merit" and vowed to "aggressively defend our position."

BTW, on a whim I googled "Nicolas Cage eating ice cream" to see if a real-life photo existed of him eating ice cream. There wasn't, but I did see this result:

Created by shawnmalloyrocks using Stable Diffusion

Upon clicking the image link, I learned that the above image was actually from the Stable Diffusion subreddit. It was created by a user who prompted the app to create a gallery of images "from his favorite 90s Nicolas Cage movie, Forrest Gump."

Here's another one from the brilliant series:

Created by shawnmalloyrocks using Stable Diffusion

The future truly is now.

Read more: The Co-Founder Of An AI Company Sold His 15% Stake For $100. Three Months Later The Company Was Worth $1 Billion. Now He's Suing.

Jami Gertz is the richest actor on the planet.

In terms of the richest celebrities in the world overall, Jami's $8 BILLION net worth leaves her tied for second… tied with Steven Spielberg! Only George Lucas is richer, thanks to his $10 billion Star Wars/Disney fortune.

So, how did a moderately-successful 1980s actress come to be so insanely wealthy? In short, she married well. Very, very, very well.

BUT! Before you judge Jami and assume an actress married a rich guy for his money. That's not the case. When Jami met Antony Ressler back in the mid-1980s, SHE was very much "the catch" in the relationship.

And the year they actually married, 1989, is the year Antony's employer collapsed in one of biggest scandals of the 1980s. A scandal that sent the firm's leader to jail and caused a global financial "junk bond" crisis.

When they actually got married, SHE was the bread-winner. SHE bought the couple's first home and paid for all of their early vacations.

So who is Antony Ressler and how did he recover from the "junk bond" collapse and eventually become one of the richest financiers on the planet? With an $8 billion fortune that bought the NBA's Atlanta Hawks and made Jami Gertz the richest actor in the world?

Frazer Harrison/Getty Images

Meet Cute

Jami and Tony met at a dinner party in Ressler's Los Angeles apartment in the mid-1980s. He asked her to brunch. Post brunch, he sent her a dozen roses to the dressing room of the small theater on Santa Monica Boulevard where Gertz was performing opposite Jason Patric in a play.

At the time she would have been around 22 and he would have been around 27.

When they met, Tony was a senior vice president in the high yield bond department (aka "junk bonds") at a company called Drexel Burnham Lambert. In 1989 Drexel Burnham Lambert, which was infamously run by "Junk Bond King" Michael Milken, collapsed into bankruptcy. The collapse was so catastrophic, it sent the financial markets into a recession for years and ended the 1980s boom times in one fell swoop. Michael Milken subsequently spent 22 months in prison and paid a $200 million fine.

Apollo Global

In the wreckage of Drexel's collapse, in 1990 Antony and three former co-workers co-founded the private equity firm Apollo Global. His co-founders are Leon Black, Josh Harris and Marc Rowan. Fast forward to the present and Apollo Global has more than $500 billion in assets under management. Apollo is publicly traded (NYSE ticker: APO) with a market cap of $45 billion.

Leon Black was actually already his brother-in-law thanks to Black's 1976 marriage to Antony's sister Debra Ressler. Today Leon is worth $11 billion. When Leon and Debra paid $38 million in 2016 for Tom Cruise's Beverly Hills mansion, their real estate agent was Sharyn Gertz. Jami's sister.

Today Josh Harris is worth $8 billion and, perhaps more importantly, is the majority owner of the Philadelphia 76ers of the NBA, the New Jersey Devils of the NHL and the Washington Commanders of the NFL.

Marc Rowan doesn't own any sports teams but he is worth $6 billion.

Ares Management

Antony actually left Apollo in 1997, just seven years after the firm was founded, to co-found an asset management firm he named Ares Management. Today Ares Management has $350 billion in assets under management. Ares is also a publicly traded company (NYSE ticker: ARES) with a market cap of $28 billion

$8 Billion Fortune

Between his stakes in Apollo and Ares (vast majority comes from Ares though), Antony Ressler's net worth is $8 billion.

Jami and Tony have not sat idly on that fortune. They are consistently among the most generous people in the world. They have donated hundreds of millions of dollars to various charities, notably LA's Cedar Sinai Medical Center and the Los Angeles County Museum of Art.

Jami directs the couple's donations through the Ressler-Gertz foundation. Gertz-Ressler High Academy, a member of The Alliance for College-Ready Public Schools, is named after the couple. They are the founding members of Painted Turtle Camp, an organization that pays for children with chronic and fatal illnesses on camping trips.

And as we mentioned at the beginning of this article, Jamie and Tony are the majority owners of the NBA's Atlanta Hawks!

Their first sports team investment occurred in 2005 when they chipped-in as minority investors in purchasing the Milwaukee Brewers. They still own this investment.

As a massive Lakers fan, Antony's original dream was to own an an NBA team. Assuming the Lakers would never sell, the next best options was the Clippers. Unfortunately, when the Clippers went up for sale in 2014, they were out-bid by Steve Ballmer's $2 billion offer. An off that at the time seemed other-worldly.

A year later Jami and Tony paid $850 million to become majority owners of the Atlanta Hawks.

Jami and Tony have three sons. The family owns over $100 million worth of real estate in Los Angeles alone, most notably mansions in Beverly Park and Malibu.

And btw, even with an $8 billion fortune Jami still acts from time to time!

Read more: How Did 1980s Actress Jami Gertz Become The Richest Actor In The World? With An $8 Billion Fortune!!??

Italian law stipulates two thirds of a wealthy individual's fortune are divided up equally among primary heirs, while the remaining third can be distributed according to the departed's wishes.

As such, it was just revealed that Berlusconi's 33-year-old girlfriend Marta Fascina, who the tycoon reportedly referred to as his "wife" on his deathbed despite their lack of an official marriage, inherits about $109 million. That's the same amount that was left to his younger brother Paolo. And then there's Marcello Dell'Utri, Berlusconi's controversial associate with a mafia conviction in his past. Marcello got a little over $32 million.

Berlusconi cites these bequests as having come from "the love I had for them and the love they had for me," according to the will itself.

MATTEO BAZZI/ANSA/AFP via Getty Images

Dell'Utri, who has always denied the organized crime charges against him, told news agency ANSA that the bequest was an unexpected surprise, and even went into some detail about their long friendship:

"He was like a brother to me. We had known each other for more than 60 years. He always helped me. Even at university, he would share his notes."

Not everyone had as sunny a view of Berlusconi's bequests. Leftist Italian politician, former prosecutor who was also once the mayor of Naples, called them something out of a "soap opera" in a Twitter post. The will might also remind some of the HBO series "Succession," as it carved out pieces of his family business empire Fininvest and divided it among his five children.

Berlusconi's first wife Carla Dall'Oglio and the two Berlusconi children from that marriage, Marina and Pier Silvio Berlusconi, now have a 53% stake in the company, where before their combined stake was less than eight percent.

Read more: Silvio Berlusconi Left His Girlfriend Over $100 Million In His Will, And Another $32 Million To Mafia-Linked Associate

I could list a dozen massive companies the size of Disney and McDonald's and their combined market caps would be significantly less than Apple. So I'm not going to do that. I think you get it… $3 trillion is a bafflingly-large company. But what's most baffling is how much Apple has grown in the last, roughly, 15 years. Let's travel back in time for a moment.

The date is January 9, 2007. Apple's co-founder/CEO Steve Jobs is on stage delivering the keynote at Macworld 2007. In that keynote, Steve introduced the world to a new product. That product was the iPhone. As he was delivering that speech, Apple's market cap was…

$73 billion

For context, Elon Musk's current net worth is $230 billion.

Here's a photo of Steve introducing the iPhone at Macworld 2007:

(Photo by David Paul Morris/Getty Images)

And here's another photo of Steve from that same day that I saw in Getty and couldn't resist sharing. I have no idea what context led this pose but it's fantastic:

(Photo by David Paul Morris/Getty Images)

To reiterate, as Steve was pretzeling himself into the above pose, his company was worth just $73 billion. In the 12 months that immediately preceded that pose, Apple generated $19 billion in revenue. Three years after releasing the iPhone, Apple broke $100 billion in annual revenue. As Apple's revenue exploded, so did its market cap.

Steve Jobs died on October 5, 2011. Apple's peak market cap during Jobs' lifetime came just three months before his death. That all-time Jobs-era market cap was…

$360 billion

At the time of his death, Steve Jobs' net worth was $10.2 billion. And here's a fun little fact: The vast majority of his net worth didn't come from Apple at all. It came from…

Disney

There was a time when Steve owned 20% of Apple. That was back in the mid-1980s before he lost a bitter boardroom battle and was ousted as CEO. In a rage after leaving the company, Steve sold 99.99% of that once-20% stake for a gain of $100 million. He reportedly kept a single share so he could continue receiving annual reports and attend shareholder meetings if he ever had the desire.

Steve returned to Apple in 1996 through an acquisition of a computer company he founded called NeXT. He became CEO of Apple again in 1997. To incentivize him, the company's Board of Directors gave him 5.5 million shares of Apple.

At the time of his death in 2011, those 5.5 million shares were worth…

$2 billion

Outside of NeXT, during his time away from Apple Steve also co-founded the digital animation studio Pixar. When Disney acquired Pixar in 2007, Steve personally received 138 million shares of Disney stock.

The sale made him the largest individual shareholder in Disney and gave him an additional $8 billion worth of personal wealth at the time of his death.

How Rich Would Steve Jobs Be Today?

Let's start with the Apple stake. When Apple stock split 7-1 in 2014, Steve's 5.5 million shares became 38.5 million shares. When the stock split 4-1 in August 2020, that stake became 154 million shares. At Apple's current $192 price per share, 154 million shares would be worth…

$29.6 billion

Disney stock has not split since Steve died. Disney stock is currently trading at $88 a share. So 138 million shares would be worth…

$12.1 billion

So if Steve Jobs was still alive today and never sold a single share of Apple or Disney, today he would be worth…

$41.7 billion

So What Happened to that Wealth?

Steve's widow Laurene Powell Jobs inherited his entire estate. She presumably had to pay an estate tax in the several billion dollar range.

In 2017 Laurene sold roughly half of the family's Disney stake, 64.3 million shares, for a one-time $7 billion pre-tax windfall. Hindsight is 20/20, but in the middle of 2020 when Disney stock briefly hit an all-time high of $197, those shares would have been worth $12.7 billion 🙂

She has donated billions of dollars to charity, including a $3.5 billion pledge to fight Climate Change.

When you total it all up and subtract all the donations, today Laurene Jobs has a net worth of $10 billion.

Why is Laurene not richer? Because according to proxy statements, Laurene sold roughly 10% of her Apple stake once a year until 2021 when she no longer owned a meaningful number of Apple shares.

One More Thing…

Let me leave you with one fun final hypothetical scenario –

If Steve Jobs had never sold off his 20% stake in Apple back in 1985, today those shares would be worth..

$600 billion

Read more: How Rich Would Steve Jobs Be Today As Apple's Market Cap Tops $3 Trillion?