Martín Escobari

I have 95% of my net worth in that product and I sleep well at night.

I have a vastly undiversified portfolio of two assets, GA and treasuries.

He's the accidental billionaire.

Got the idea of duty-frees by looking at naval bases where commerce was free in the Pacific during the Korean War.

Starts building these duty-free shops, becomes a billionaire, sells to Louis Vuitton.

And he's confronted with the question, what is the purpose of wealth?

What do I do with this wealth?

And his answer resonated really well with me.

The purpose of wealth is to improve the human condition now, not tomorrow, now.

Because present value of happier life for more people now is very valuable.

So he wants to give it all away.

Forget giving half away.

He's like, my dream is my last check will bounce.

I want to die a poor man and I want to give it all.

But before I give it all, I believe you can create additional wealth by investing in innovation, by backing great entrepreneurs globally.

And he said, you at GA, to the original founding team at GA, go back to the world's best entrepreneurs, be a good partner, and know that all the proceeds of our work will go to great causes.

And we've been doing that for 45 years, backing great innovators,

Everywhere.

We've invested in over 500 companies over the last 45 years.

Half of our investments have been outside of the United States.