I am not a co-founder of AOL. I am unsure of how this descriptor has crept into mainstream media. I was founder of Redgate Communications which was AOL’s first acquisition. I am proud of my early work with AOL. When AOL acquired Redgate we (combined) had less than 400 employees. I am proud that there is now a building with my name on campus at AOL but I am not a co-founder of the company. I worked at the company for almost 13 years. I retired at the end of 2006.
Steve Case, Jim Kimsey and Mark Seriff are the co-founders of what we call AOL today. There were many early AOLers who did fantastic work too that don’t get enough credit and recognition by media - Jean Case; Jan Brandt; Jack Davies; Audrey Weil; Kathy Ryan; Mike Connors; Barry Appelman; Matt Korn - the list goes on and on.
There was a predecessor company called Quantum Computer. You can read all about the roots of the company and its originator in Kara Swisher’s book about AOL. I talk a bit about AOL too in my book, The Business of Happiness. I do not want to offend my friends who were the real founders of the AOL and am hopeful that media will be more accurate in the use of the term ”co-founder of AOL.” Thank you.
I am not a billionaire. This one is funny. When I bought the teams 12years ago, a writer at the Washington Post tried to figure out my net worth and he counted up my shares and options and wrote that my net worth “hovered near a billion dollars.” I asked the writer what hovered meant and what “hovered as a unit” was defined by in terms of dollars. We both laughed. I also asked him if he knew what my other assets were worth outside of my AOL holdings and of course he said no.
The very next day, another article in the Washington Post – by a different writer - called me a billionaire. And it stuck. It stuck even though the stock price of AOL went up; then down; and further down. We have had two economic downturns, etc. etc.
I am not a billionaire. I wish media would be more judicious in their use of this term. Is that pre-tax - after tax? How do you value what? Just don’t use it in any articles anymore. It isn’t true for me and for most other people that you use it as a short hand descriptor for these days. You don’t have to be a billionaire to feel blessed and happy and wealthy, you know?
Read my book. Thank you.
I own as much of the Washington Mystics as I do of the Washington Capitals and Washington Wizards and Verizon Center and the local Ticketmaster franchise. All of these enterprises are under the umbrella of Monumental Sports and Entertainment. I am pleased to say that Sheila Johnson is also an owner of all of the assets listed above. She is also one of two vice chairmen of the over all company and she is President and managing partner of the Mystics, too.
There - three setting the records straight with mainstream media instances this month. Thank you - and thank you for being more diligent in your reporting in the future.