In just six months, Taylor -- the owner of the Minnesota Timberwolves and assorted companies in industries as unrelated as chicken farms and wedding-invitation printing plants -- has gotten poorer along with the rest of us. His net worth last fall, estimated by Forbes, was $3.3 billion. This week, the magazine's Web site pegs Taylor at $2.4 billion. That's a 27 percent drop, not unlike a lot of regular folks' retirement accounts and right in line with the 23 percent by which the fortunes of the world's billionaires allegedly shrank over the past 12 months.
Not to worry: Taylor still has his seven million chickens hard at work on his agribusiness production lines in Iowa and Minnesota, laying what gets sold as liquefied eggs to restaurants and food companies. He hasn't had to cut any grim deals with KFC or invite a few of his top producers home for (gulp) dinner. But he has laid off some human workers across his various enterprises. And the "business with problems" he's most intimately involved with now is one that, for so long, seemed recession-proof: The T'wolves.
almost 3 years ago
wyn
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