I don’t think a deal is done. My read is it’s just a paper valuation which Nick can pretty much make up. His valuation would prob be influenced by the level of interest from buyers/partners, but I think it’s still just a made up figure.
I think the takeaway though is that the “valuation” of Nick is primarily from Phoenix, not from the horsies, and the houses were probably borrowed funds. So working back from that and the ownership breakdown @OneGoodTrade shared, he’s valuing around $2B
