R 10. 00 it travis exactly right so this plays into the steam of neo feudalism everything being taken private so it is i mean that means for example walgreens but its already a merger as you discussed theres fewer and fewer competing Companies Competing with each other theyre all being consolidated into an oligarch play them in a monopoly and then they are taken private 70000000000. 00 deal largest private equity deal over those deals are going to need to become bigger and bigger will say 150000000000 dollars 300000000000 dollars im sure Warren Buffett also Berkshire Hathaway in a 600000000000. 00 deal with some saudi prince at some point but its all being taken private and thats just another stepping stone along the way of that trend weve been talking about here for a few years and if theyre spending 70000000000. 00 and its not their money theyre borrowing that 70000000000. 00 or 7070 1000000000. 00 against the assets of walgreens boots i. E. The Pension Funds of all the m. Ploy the b
Walgreens boots i. E. The Pension Funds of all the employees the buildings in which walgreens lives theyll just sell 3 it all off pay themselves a huge dividend leave the 70000000000. 00 of debt with the public shareholders when theyve bring it back to the market and dump it on our pension fund leveraged buyout just to be clear youre youre pledging the assets of the company to borrow the 70000000000. 00 in this case from the central bank that will charge you nothing for it then you make the acquisition then you make a few spin offs like the pension accounts to pay back that debt and you keep the keep the rest i mean thats what ray dal you know is essentially talking about when he says billionaires like himself or henry kravis or Steph Stephen schwarzman they get to borrow for free at the fad and then destroy the livelihoods of the bottom 50 to 90 percent of the population sells 500000000. 00 in stock i dont know how to pronounce his name kalanick hes the guy who is out. Said he gets 50
I dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . For about 20 years, you have been the wealthiest man in the world. But because you have given away so much money recently, jeff bezos became wealthier. Do you think if you had stayed in college and gotten your College Degree [laughter] david i mean, you dont feel inadequate now, being only the second wealthiest man in the world, is that right . Bill it is a sign i have not given the money away fast enough to drop out of the top 10. And, you know, the market has been strong. [applause] david actually, the market has been strong. Microsoft is up 35 this year. So to what do you attribute that . Bill the company is doing super well. Satya nadella is a great ceo. You know, the whole dream of the importance of software has
Sponsoring something because its all about boxing and reading and writing. And so are thrilled to present the section on paper or plastic and brother environmental and perhaps some brother choices that will be hearing about from the panel. Let me introduce our moderator and we will get the session going. A couple of logistical things first. There will be a brief signing after the session in the lobby. Library normally closes at 5 00 oclock on a saturday will be holding library open until 515 which is the conclusion of the session. Which means if you are not book site, we ask you to exit the building expediently as possible as there is another if it here this evening to. So to the order of business, barbara is the senior producing editor of environmental vertical. And has also been for the New York Times, technology or review. The boston globe magazine. Vessels producing Television Documentaries for pbs and the Discovery Channel in the History Channel and others. Shes also a former prof
I dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . For about 20 years, you have been the wealthiest man in the world. But because you have given away so much money recently, jeff bezos became wealthier. Do you think if you had stayed in college and gotten your College Degree [laughter] david i mean, you dont feel inadequate now, being only the second wealthiest man in the world, is that right . Bill it is a sign i have not given the money away fast enough to drop out of the top 10. And, you know, the market has been strong. [applause] david actually, the market has been strong. Microsoft is up 35 this year. So to what do you attribute that . Bill the company is doing super well. Satya nadella is a great ceo. You know, the whole dream of the importance of software has