1,000 Dollars & an Idea

1,000 Dollars & an Idea

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Wyly, Sam Sam Wyly, Newmarket Press, 2008
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IN THIS SUMMARY

My work is to create companies and build them," writes Sam Wyly in this candid and engrossing account of the process, relationships, struggles, and strategies in technology, energy, retail, and investments over the last forty-five years that have made him one of the 1,000 wealthiest people in the world. From the hardships his parents faced trying to hold on to the family cotton farm during the Depression to the coaching he received on the high school football field, this self-made billionaire describes how his early years in Louisiana prepared him for what lay ahead. His sales experience with IBM and Honeywell in Dallas in the early 1960s gave him the idea to start the first "computer utility." Risking $1,000 of his savings, he founded University Computing in 1963 and took it public two years later, becoming a millionaire at the age of thirty. Later business successes included taking on the mammoth AT&T monopoly, expanding the small chains of Michaels Stores and Bonanza Steakhouses to over a thousand locations nationwide, co-founding the Maverick Capital and Ranger Capital hedge funds, and founding Green Mountain Energy, the largest provider of cleaner energy in America today.