POPA ReconTerry Watanabe on Gambling Away $350 Million Fortune
Terry Watanabe on Gambling Away $350 Million Fortune • Sold his company (inherited from father) for $400M, netting $350M personally • Compulsive gambler, ~$127M lost in about a year • Annual wagering escalated from $4.2M (2005) to $81M (2006) to $825M (2007) • Currently Terry is broke, living on Social Security • The core irony he acknowledges: at 5% interest, that fortune would passively throw off ~$17.5M/year forever. His own cited "turning point" was online blackjack in his 30s, where he quietly lost ~$30M before Vegas ever entered the picture (good wake up call for all the gamblers here,…
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