Bill Foley, owner of Foley Family Wines, is now hunting for more distressed wineries along Napa Valley's fable Route 29. Photographer: Jeff Minton/Bloomberg Markets via Bloomberg
Wine Turns Mortgage Title Mogul Into Entrepreneur of Viticulture -- Bloomberg
On a crisp winter’s day in 2010, Bill Foley was exploring a troubled winery for sale in Sonoma County, California, when he was taken aback by the sight of an enclosed horse-riding ring the size of an airplane hangar.
Foley, who made a fortune selling mortgage title insurance during the housing boom, also recalls seeing a California mission-style chapel and a regulation-sized football field and baseball diamond at the Chalk Hill Estate. These extravagant structures had nothing to do with making wine and helped saddle an estate valued at more than $100 million with excessive debt, Bloomberg Markets magazine reports in its March issue.
“My wife said, ‘There’s no way you can buy this,’” Foley recalls with a mischievous grin.
Read more ....
My Comment: He is 66 .... but that is not stopping him. What can I say but good luck.
No comments:
Post a Comment