Padraig Harrington May Be Poor(er)
By Kickntrue on 8/3/10
Golfer Padraig Harrington may have lost up to $5,000,000 in an investment to a company where is brother works. Thanksgiving should be fun!
Golf champion Padraig Harrington has lost around €4m in a failed investment in a UK technology firm, according to a recently filed court document seen by the Sunday Independent.

And the billionaire golfing enthusiast Dermot Desmond has taken a hit of more than €14.3m following an investment in the same company, U4EA Technologies, of which Harrington's brother, Columb was a director.

Reported to be worth at least €17m, but likely to be worth much more, Harrington last year told the Sunday Independent: "I have not lost greatly in any ventures . . . nothing has happened that has had any material effect on me, financially." But he also admitted he was not "immune" from events.
My initial reaction to reading this was, "Padraig Harrington still golfs?!" Anyway... losing $5,000,000 when you start with $22,000,000 (I'm doing present day conversion rates) leaves you with $17,000,000 (yah for 3rd grade math!). That's still a lot of dough. But it still has to be brutal. The whole family dynamic makes it even crazier. It's one thing to watch your stock investments plummet with the market but to have such a large stake with your brother's assurance has to be awkward to say the least.

Eh- beats screwing around on your wife and losing $400,000,000.

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[ comments ]
TeT says:
Um,,, never mix family and business EVER. Unless you have to.
TWUES17 says:
Who drew the boobs in that picture? Sweet, we could use more of that on oob.
Kurt the Knife says:
Then we run the risk of the site name evolving to "boobgolf"


Is this thing on?
Banker85 says:
slight chuckle @ kurt... i think you should have titled the article: Padraig Harrington May Be Less Rich. To use the word poor when you are talking millions $$$ makes me want to smack you.
Kickntrue says:
@banker- good point.. but if i change it now you're comment won't make sense.
Banker85 says:
TeT says:
PH still plays golf?
[ post comment ]
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