No-one need worry about the fortunes of Gordon Merchant. He's...

No-one need worry about the fortunes of Gordon Merchant. He's richer than the whole Billabong company market cap because he cashed in most of his shares a long time ago.

http://www.brw.com.au/p/business/billabong_investors_shouldn_forget_WPhEQzP5YGKo8d9rrN1QOI

"The entry [of GM in the Top200 rich list] explains how Gordon Merchant cashed a big chunk of his Billabong shares many years ago and successfully diversified to the point where he remains on the Rich 200 with a fortune of $325?million.

"Coincidentally, that’s about three times the value of Billabong’s market capitalisation on Tuesday after the company announced that two takeover bids had fallen over and that earnings were being downgraded again."
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So, when he knocked back the $3.30 offer for BBG shares in the past, it seems he was coming from a place of greed, not need (need is what a lot of BBG retail holders would be feeling right now). A pity Merchant won't help the company now, given it has provided him with the wealth of being in the top 200 of Australia's richest.