Dick Fuld should have been a Realtor
The Real Deal reports that Lehman Brothers ex-CEO Dick Fuld sold his 16-room co-cop in New York City for $25.87 million. He wanted $32 million, but he still made a tidy profit, having bought it for $21 million in 2007.
So let's give the guy some credit. Sure, he led a 158-year-old firm into the ground (after being paid almost a half-billion dollars from 1993 to 2007), but the dude managed to make a quick profit in the worst real estate market in decades.
On the other hand, he sold his $13.3 million mansion to his wife for just $100. Perhaps she's the true real-estate expert in the family. And he's just a jerk.
Robert Brokamp is the senior advisor for The Motley Fool’s Rule Your Retirement service.