Most people aren't willing to talk about financial details at all. I find it fascinating myself. Thanks a lot for sharing.
Re:Why I gave away my company to charity
by noonespecial on Saturday December 05, 2009 @01:39AM
(#977845)
Well, I say brag. You created a great company that did good things for people. It sold because it was good to a company who was going to use it to keep doing that good. You made a bunch of money that you rightfully deserved and then decided that you didn't need it all. So instead of building yet another monument to ridiculous excess, you made a smart plan to do even more good. Yes, friends, he gets a million bucks a year now. Even after all that. I bet he uses it for good stuff too. Brag Mr. Sivers. You've damn well earned it.
I did all this over a year ago, and didn't plan on telling anyone. I knew it would sound like smug bragging.
But in a few entrepreneur-focused interviews since then, (VentureVoice, etc) - the interviewers seemed particularly interested in the details on how and why I set up the trust.
Yesterday I did another one of those interviews, and he pushed for details again - so today I thought I should just write it down once and for all, so I don't have to keep re-telling it.
Sorry if it sounds like bragging. Perhaps it is, a bit, but I hope that someone somewhere in the future selling their company might be aware that this is an option and read someone else's experience with how to structure it.