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Funny Money Friday: What Should Bob Do With $210 Million?
Money doesn't have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.
Home Depot made headlines around the world this week with agreeing to a $210 million severance package for former CEO Bob Nardelli. $210 to quit your job? That is a pretty sweet deal, I would quit for half that much...but at the same time this deal makes by blood boil as an investor. Business Week has the best story about Nardelli and Home Depot that I've read so far.
Mr. Nardelli had worked for Home Depot for only six years and had been embroiled in scandals about his compensation, the company's sluggish stock prices and his decision to replace thousands of full-time employees with part-time employees in Home Depot stores. In 2005 alone, Mr. Nardelli earned $37.8 million which calculates to about $18,000 an hour. Shareholders are now suing to stop the $210 million severance package from being paid out.
Anyways, this is supposed to be "Funny Money Friday" not "Rant About Executive Compensation Friday." So let's suggest some ways that Bob could spend his $210 million windfall:
- He could buy and furnish the world's most expensive home, a $122 million dollar estate in England with five swimming pools and a heated marble driveway.
- He could outfit every room in his new mansion with a 103-inch plasma television encrusted with 20 carats of diamonds for $130,000 each.
- He could surpass the Netherlands $201 million donation to UNICEF, which was the largest single earmarked donation in the organization's history.
- He could buy a fleet of 166 of the world's most expensive cars, the Bugatti Veyron which retails for about $1.2 million.
- He could double the funds that The Partnership for Higher Education in Africa (backed by Bill Gates) has to improve and expand university programs in Kenya, Ghana, Mozambique, Nigeria, South Africa, Tanzania, and Uganda.
- He could outfit himself and all his friends with with Diamond Crypto Smartphones that retail for $1.3 million each.
- He could buy a few pairs of 60 carat diamond earrings from Harry Winston for $8,5 million a pop.
- He could buy Sealand, the world's smallest principality, for about $200 million.
- He could donate life saving vaccines to stop the two top killers of children worldwide, the pneumococcus and rotavirus.
What do you think Bob should do with his $210 million? Share your feedback in the comments section below.
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