Lay by the Numbers
Kenneth L. Lay just laid out some big numbers when talking about his personal wealth:
-- Net worth, 2000: $350 million.
-- Net worth, 2001: $50 million.
-- Net worth, today: "More or less zero," Lay said. When pressed, he said it was around $250,000.
-- Total personal debt, at its height: $100 million.
-- Total compensation, 1999-2001: $223 million.
-- How much of that went to living expenses: $23 million.
-- How much given to charity: $25 million.
-- Amount of bonus received for becoming chief executive in August 2001: $10 million.
-- Number of houses: At least seven, including one in Houston, three in Aspen, Colo., three in Galveston, Tex.. The six houses outside of Houston were sold to pay legal bills. The houses in Aspen were sold for $20 million.
-- Total amount he borrowed from Enron in 2001 via special line of credit for executives: $77.5 million.
-- Total repaid to Enron in 2001 via Enron stock: $70 million.
By Frank Ahrens |
April 26, 2006; 3:42 PM ET
| Category:
Dispatches
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Posted by: skimble | April 26, 2006 06:27 PM
He thinks he has it bad now - just wait for the civil trials.
Posted by: Jeff M. | April 27, 2006 12:03 PM
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How does Lay borrow $70+ million in cash, repay it in stock, and end up with a net worth of $50 million (in 2001)? The WSJ articles that troubled him so much didn't even appear until 4th quarter of that year.
Anybody have a calculator?