
OPM
-N
ot Opium: Where Most of the Richest Are 125
versus value of revenue versus maturity. T hink like an
OPM
found
er-C
EO . If a law dictated firms could have only up to $1 bil-
lion in revenue, no more, then hands down you'd want
to
be fee-
based- the enterprise value would be so much higher. A small
success in fee-based goes a long, long way.
T his isn't to disparage insurance and brokerag
e-
which
have created lots of mega-wealth . Some see
Warren Buffett
(worth $52 billion)'! as an investor.
He
's really an insurance
CE
O.
Berkshire
Hath
away's profits come overwhelmingly from insur-
ance. Buffett's unu
sual-th
e next-wealthiest insurance
OPMer
is
Hank Greenberg, former
CEO
of AIG, net worth a big step down
at $2.8
billion .t Arthur Williams found ed and sold an insurer to
Primerica and is worth $1.8 billion."
Ernest Stempel, a H ank
Greenberg ride-along (Chapter 3), started AIG's life insurance
division (worth $1.7
billion )." Patrick Ryan ($1.4 billion) started a
firm that became A
ON,
America's largest re-insurance broker.
s
But
beyond Buff
ett
, they don 't compare to fee-based
wealth-th
e top
15 listed below.
Wealthiest
Fee-Based
OPMers
Name
Famous
for
Net
worth
Edward
Johnson
III Fidelity $10 billion
George
Soros
Slewof
hedge
fundsand tankingthe $8.8 billion
British
Pound
Charles
Johnson
Franklin Resources $6 billion
Char
les
Schwab
Eponymous
firm
$5.5 billion
James
Simons
Hedge
funds $5.5 billion
Rupert
Johnson
Franklin
Resources
$5.2 billion
Edward ...