52 replies to this topic

[kouks]

He spent his F1 years taking the piss, taking every opportunity that came his way and maximised his limited talent as a racing driver to the fullest. He nearly won a world championship doing so, then moved on to Jaguar for a kings ransom. He was dating supermodels way before DC got the hang of it.

But how clever is Eddie Irvine?

"Somewhat surprisingly, Eddie Irvine is seventh on the list, with a fortune of £170 million. Although earning combined salaries in Formula 1 of approximately £32 million, he has most of his money through shrewd use of the stock market and building properties around the world to sell and let. Piero Ferrari, Ron Dennis and Sir Frank Williams complete the top ten, with the latter worth £85 million.

Love him or hate him, his character is definately missed.

Way to go Eddie!

[Ross Stonefeld]

If I had tens of millions of dollars of ready cash id invest it in real estate too and turn a similar profit. Its not difficult or very smart. The hard part is getting the money to begin with

[kouks]

He made his first million while racing in Japan though the stock exchange, not through racing.

I suspect he did the hard part himself as well.

[JForce]

Eddie is da man

[zfh10]

if Eddie is the smartest ever, it is a sad reflection on F1 drivers.

Perhaps the right thread title would be:

Is Eddie the luckiest F1 driver ever after gambling millions in risky speculative investments that fortunately returned a healthy profit thus making him very wealthy?

[skinnylizard]

Ross you can be so annoying sometimes. you think you can convert an X$ investment into 4X$ with a lot of ease?why dont you quit the whole racing scam and become a fund manager. coz youll have money there and you can play with and when everyone sees what a smart ass you are you can move up the chain and have your millions..then you too will be worth around 170Million in like what 10 years i reckon.
xxx
www.pi-media.com
www.eranstudio.com

PS how much do you know about real estate investing?
PPS. and i am not trying to be an asshole or nothin..

[Ross Stonefeld]

Of course not.


Just look at the real estate rates of a major city. London for example. Its like printing money. And even in low yield areas, it will allways go up over time.

[AdrianM]

Smartest off track maybe. He has a great business mind and has invested well

[Pilla]

Originally posted by Ross Stonefeld
If I had tens of millions of dollars of ready cash id invest it in real estate too and turn a similar profit. Its not difficult or very smart. The hard part is getting the money to begin with

If it was so easy im sure the bank wouldnt mind lending you a few million for a low risk loan.

Turning a profit five times your initail investment is above and beyond 15% per annum return that most investors (property included) demand, I would also imagine that most of that money would have been earned before he started getting the big bucks at Jaguar. Anyone know how long he has been racing for? Anyway good on him.

[Pilla]

Originally posted by AdrianM
Smartest off track maybe. He has a great business mind and has invested well

Maybe we will see him as a team owner/manager in the future? I would like to see that.

[Ross Stonefeld]

heh neither his race or business experience has any relevance to being a team manager. Or even a team owner as Prost and Stewart showed.

And dont forget he's got business managers. He's not just sitting around guessing at stocks on his own.

[AdrianM]

Originally posted by Pilla


Maybe we will see him as a team owner/manager in the future? I would like to see that.

I agree with Ross they are two very differnet things.

[Fuze]

Originally posted by Pilla


Maybe we will see him as a team owner/manager in the future? I would like to see that.

If so, then he will be a stupid guy, not a smart one !

[kouks]

Originally posted by zfh10
if Eddie is the smartest ever, it is a sad reflection on F1 drivers.

Perhaps the right thread title would be:

Is Eddie the luckiest F1 driver ever after gambling millions in risky speculative investments that fortunately returned a healthy profit thus making him very wealthy?

I would hardly call owning and managing over 90 hotels and houses world-wide a risky speculative investment.


Ross,

If you've seen the documentary "Living the fast Lane" you'll note one of his mates comments one year after a party he got home and was buying and selling shares at 2am. Despite the impression Eddie gives most people when interviewed or asked a question that he's an idiot, he's very, very switched on. He's simply taking the piss 90% of the time.

[skinnylizard]

ross is right. its not all his acumen though it takes a financial mind to win or lose.
i dont know mate. my family has been in the real estate business for the last 30 years. Been looking at things in New York and London for a while now. there is no capital appreciatation. there is def money there but mostly in the To-Let kind of deals.
acutally i think Eddie is a smart one. Ross you dont really need the money to invest. i mean you wanna buy a 400K house. you dont need 400K> more like 50K should be enough...(and it will pay off) but u dont make a 300% return regardless...
xxx
www.pi-media.com
www.eranstudio.com

PS. I sound like Stirling Moss...
PPS. Apologies then.

[TEquiLA]

Originally posted by Ross Stonefeld
Of course not.


Just look at the real estate rates of a major city. London for example. Its like printing money. And even in low yield areas, it will allways go up over time.

Yeah, try selling this idea in Japan

[rapido]

Originally posted by Ross Stonefeld
If I had tens of millions of dollars of ready cash id invest it in real estate too and turn a similar profit. Its not difficult or very smart. The hard part is getting the money to begin with

if your aunt had balls she'd be your uncle.

if pigs had wings they'd fly.

getting the money's the easy part... the hard part is keeping it.

[Schuting Star]

Originally posted by rapido
getting the money's the easy part...

It is? Would you be so kind as to enlighten us as to the methods you used while gaining this knowledge?

[Nikolas Garth]

Originally posted by kouks
But how clever is Eddie Irvine?

Probably cleverer than Alan Jones.

[skinnylizard]

i think rapido meant that as getting the money is easier than keeping it and not easy in getting it altogether. but still whats mortgage rates like in the US i think 6% for like 30 years. bloody hell. Down here in bombay its like 12% from the bank and private equity ranges from 18%-23%.
even then the markets here are booming. but bombay is a bubble market just like NY and London.
either way real estate will not yield more than 10-14% normally (if your lucky). the rest had to come from stock markets etc. the real trick ..something we try is to finance part with equity part with debt. then assuming the property is on lease use the forthcoming rental discounted @ f****g 12% to pay for the property. this way you can purchase an asset by paying around 40%. in essence you could own property 2.5 times your financial capacity of course it wont be a great investment until a few years down the line when its paid off most or all of it. Then assuming capital appreciation you cash out or take your future rentals and discount them again and ave $$ in hand..

6% ****ing ridiculous.
xxx
www.pi-media.com
www.eranstudio.com

[skinnylizard]

i rant..

[pRy]

Hes a smart guy, always has been. My opinion of Eddie Irvine changed drastically when I saw him appear on an interview show over here. And the interviewer asked him if he thought he would still be in Formula One next year (This was during the Jaguar stuff)... and he said he wasn't sure. Then the interviewer asked him does he want to be in Formula One next year, and Irvine replied. "Oh of course I do. Why wouldn't I? Being a Formula One driver is the best job in the world. I'd be crazy not to want that". I think that was the first time I saw him, or any F1 driver, indicate that the sport is bigger than the drivers, and it was a *job*, that he loved doing, and was lucky to be given the chance to do. Thats a nice way of looking at it.

Eddie Irvine, the Robbie Williams of F1.

[Dmitriy_Guller]

Originally posted by Ross Stonefeld
If I had tens of millions of dollars of ready cash id invest it in real estate too and turn a similar profit. Its not difficult or very smart. The hard part is getting the money to begin with

Yeah, sure.

[avidfan]

Accumalting wealth requires a nose for it, and luck. Turning a few million into 100's of millions is loaded towards risk and luck. Real estate remains a lucrative way to develope wealth as the long cycles are more easily predicted than the stock market. Real estate values rarely half overnight.

I met Eddie socially a few times back in Dublin over ten years ago through mutual friends in motor racing. Back then he was rich, owned a few really nice cars, but was no multi-millionaire. We lived within a mile of eachother at one stage and, once on a mid week morning, I bumped into him in a post office. He recognised me but didn't know my name. After only 2 seconds standing behind me, he left the (shorter) line that I was in and joined the longer line. His line miraculously started to move more quickly and he was served before me. On the way out he gave me the smile that says 'how come you couldn't spot that line was about to speed up". Every time since then I race people mentally when in differing lines, but rarely win. It appears that Eddie, now worth $170M, has both the nose for it, and luck.

[pRy]

hehe that happens here alot at Asda. They have those "10 items of less" queues and at lunch time they all build up. If you get stuck behind someone who decides to pay with a card.... or has alot of fruit and veg to weigh... 1 person can equate to 4 in a faste queue.

[Bart]

Originally posted by kouks
If you've seen the documentary "Living the fast Lane" you'll note one of his mates comments one year after a party he got home and was buying and selling shares at 2am. Despite the impression Eddie gives most people when interviewed or asked a question that he's an idiot, he's very, very switched on. He's simply taking the piss 90% of the time.

It can't have been a very good party, can it, if he's able to do something like that at 2am?

[TOLIN]

Not because, I am Msch fan, but if smartness i measured in terms of money, then Michael is smarter. Or in terms of achievments???...

[dpardyrx7]

I'm impressed - had no idea he had accumulated that kind of wealth. Many sports stars earns millions but spend it or piss it away on stupid investments and end up with nothing to show but a lot of great memories. hats off to Irvine for taking a great opportunity and turning it into a fortune. I bet he doesn't spend hours in chat rooms bemoaning the fact that anyone with money could do it.

Way to go Eddie - and yes it would be great if he was back in the business in some shape or form.

[austin]

Well.. I'm impressed! Surely a nice return on his investment.

So.. is he the "smartest"?? Which other drivers have become finacially successful?

[ensign14]

Originally posted by austin
So.. is he the "smartest"?? Which other drivers have become finacially successful?

Jody Scheckter made £100m from a company he started training people to use guns or something.

But the smartest driver of all must be Bernie...

[Ross Stonefeld]

Originally posted by Dmitriy_Guller


Yeah, sure.

Great analysis dickface Its far easier to get richer once rich, than initially rich. Otherwise we'd all be millionaires.

[maclaren]

Originally posted by Ross Stonefeld
Its far easier to get richer once rich, than initially rich. Otherwise we'd all be millionaires.

That's true of course. When you don't have money you need to work hard to earn it. But when you have the money you will invest it and earn more by letting others do the work.

[Evo One]

When Richard Branson was asked what was the easiest way to become a millionaire he said "start off as a billionaire"

[Pilla]

For other rich drivers how much did Niki Lauda make from aviation?

[aportinga]

For other rich drivers how much did Niki Lauda make from aviation?

Hmmm - was he (his company) named in an suits for the Lockerbie (sp) terrorist bombing.... that was one of his liners I believe.

[Jacaré]

Originally posted by Ross Stonefeld
dont forget he's got business managers. He's not just sitting around guessing at stocks on his own.

that 'life in the fast lane' doco showed that he was doing exactly that and really enjoying the risk taking. Living in Europe, he also traded on the US and Asian exchanges at all hours of the night. In that documentary I remember him talking about a possible salary increase in F1 and he said something like 'I would need to earn 10 times what I do now as a driver to make a difference to my wealth, even doubling my salary wouldn't change anything much". At the time I assumed he was on about $5 million as the Ferrari #2, and I thought he was lying to be claiming that he needed to earn $50 million to really make a difference to his wealth. That means in 1999 he might have had $100 million wealth already, where doubling his salary by going to Jaguar didn't mean as much as we might have thought.

[aportinga]

Excuse me while I correct myself ..... Thailand *not* Lockerbie.

[Dead Sexy]

Originally posted by Ross Stonefeld
If I had tens of millions of dollars of ready cash id invest it in real estate too and turn a similar profit. Its not difficult or very smart. The hard part is getting the money to begin with

[ensign14]

The other thing is it is much easier to gamble $1m to make $500,000 when you have another $20m spare if it goes pear shaped. No doubt at all tho' that Irvine is pretty sharp.

[Dead Sexy]

Originally posted by Ross Stonefeld


Great analysis dickface Its far easier to get richer once rich, than initially rich. Otherwise we'd all be millionaires.

You get richer only by your previous standards.

Many "rich" people earn the same return on their money that the "less rich" do, that interest / profit just buys a hell of a lot more

[skinnylizard]

actually as stupid as Ross might sound he is actually right....its not a question of interest accruals. u have more money to invest in more things too.

[FNG]

Hats off to Irvine. That is great investing! However I am kind of with Ross on this one. If you had say $20 million kicking around, it's pretty easy to buy up property in hot spots with low mortgage rates, rent them out and then in 10 years sell up and you not only have all your properties paid off by someone else they will have gone up a huge amount over that time as well. Not rocket science. However $32 million in earnings brought up to $170 million is impressive no matter how you slice it. What I continue to shake my head at and don't understand is HOW MUCH IS ENOUGH! Why bother with the stress and work of turning $32 million into more. Hell, interest and low low risk bonds on $32 million will give you a rather nice lifestyle just on all the interest on that alone!!!!!!!

[Dmitriy_Guller]

Originally posted by Ross Stonefeld


Great analysis dickface Its far easier to get richer once rich, than initially rich. Otherwise we'd all be millionaires.

Sure, it's far easier to get 5% return on a big investment, and you do become richer. However, having a return many times over your investment is definitely not easy. Or, you're saying that most rich people are very stupid for not investing their money into an easy scheme that will multiply their investment? I mean, they do have the money. Maybe if you learned from succesful people instead of putting them down, you'd actually become one some day, instead of whining on message boards about your lack of pre-requisites.

[Ross Stonefeld]

Im not whining about anything, in fact im very successful at what I do.

[speedmaster]

I think he learned a lot from Piquet... I didn't like him as a driver nor as a person since he is kind of destructive in his words against their fellow professionals... The only thing he didn't copy Piquet was the success and the championships... All in all a smart but disgusting guy...

[skinnylizard]

5%. are you like shittting me Dimitry? coz thats like ****. why would you invest money at 5% returns. that bloody ridiculous.....if you include opp cost of capital you make like no money at all..
xxx
www.pi-media.com
www.eranstudio.com

[skinnylizard]

not that Ross needs it. but i dont think he is or was being all that Mansellesque. just point of view lads...no harm in calling each other dick faces but lets not become dickheads.
xxx
www.pi-media.com
www.eranstudio.com

[Dmitriy_Guller]

Originally posted by skinnylizard
5%. are you like shittting me Dimitry? coz thats like ****. why would you invest money at 5% returns. that bloody ridiculous.....if you include opp cost of capital you make like no money at all..
xxx
www.pi-media.com
www.eranstudio.com

Geez, I didn't mean it literally, relax. I meant that money does make more money, but up to a sane point, it doesn't reproduce by itself like rabbits.

[holiday]

You cant blame Eddie for being Eddie. One of the very few drivers who are actually irreplacable.

And on a side note, I think, towards the end of his time in f1, he even got on well with Ville.

[Julius]

Eddie Irvine.

Never has someone done so much with so little talent.