Our favorite passage from Lloyd Grove’s Daily Beast interview with Nick Denton is the following:
Personally and through a family trust, Denton says he owns 68 percent of his privately-held, Cayman Islands-registered company that press reports have valued in the neighborhood of $300 million, though Denton says, “On the open market, if it were for sale—which it isn’t — it’s more like $200 million.”
At this point in his life, Denton has enough filthy lucre in his bank account to affect a certain lack of interest in the stuff. “This is not a ‘money-making venture,’” he insists. “For me, I just like the activity, and the activity just happens to make money.”
“Nick Denton, International Man of Financial Leisure.” Something he might want to put on those business card he doesn’t really need.
Meanwhile, with regards to those “press reports” that are in error by +50%, sure enough, for the moment, the figure remains emblazoned on the Gawker Media Wikipedia page, with a citation note pointing to the Wall Street Journal. What’s perhaps most amazing is that this $300 million estimate dates to four years ago, via a piece by Douglas A. McIntyre titled “The Twenty-Five Most Valuable Blogs in America.”
In the wide-ranging Daily Beast interview, Denton also shares with Grove his thoughts on the recent New Republic tumult, that now infamous Uber “influential” at The Waverly Inn and how U.S. matrimony might impact his just-happens-to-make-money activities.
[Image via: gawker.com]
Previously on FishbowlNY:
Gawker Makes Leadership Changes