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By Riley Cardoza. D.C. Attorney General Karl A. Racine (D) on Wednesday announced a lawsuit against billionaire Michael J. Saylor and the technology company he co-founded, MicroStrategy, alleging that Saylor has . 1965. [17][18][19] As a result of the restatement of results, the company's stock declined in value and Saylor's net worth fell by $6 billion. Billionaire Michael Saylor Says Bitcoin Will Come Out on Top Following In 1996, Saylor was named KPMG Washington High-Tech Entrepreneur of the Year. 5. Michael Saylor said he sold out because he felt worn down from a 15-year run at the restaurant. 28. Credit card firms, like Mastercard, are also jumping on board. In the middle of 2020, Saylor spent over a billion dollars purchasing . A similar law in New York has recovered a whopping $467 million in back taxes, according to an analysis noted by D.C. officials. 2023 - Microstrategy CEO Michael Saylor's Request for 'Case * It doesnt do anything; it has no inherent value and cant be converted to some other purpose. Michael Saylor is an American entrepreneur, executive, inventor, author, and philanthropist. But he lost a record $6 billion in 1 day (!) In October 2020, a payments company owned by Jack Dorsey Twitter's CEO Square bought $50 million worth of Bitcoin. Among the guests were at least three SpaceX executives, according to news reports. As the world reels from 2020's economic whiplash, cryptocurrency could offer a (socially distant, even) alternative to government-backed coin. He says that the company will hold onto its Bitcoin for 100 years. Saylor also warned that the recent developments around FTX will surely attract more regulatory scrutiny. Peter Schiff (left), Michael Saylor (right). The 56-year-old CEO of a sleepy enterprise-software company in . The claims were eventually settled, with Saylor himself paying $8.3 million of his personal money. D.C.s bitcoin king: Yachts, penthouses, a python and tax dodging? Ascending Triangle: How to trade with it on a crypto price chart. Bitcoin's price is on the rise, and Michael Saylor says now is the time to go big for company's like Tesla. is actually registered to AEROMAR MANAGEMENT COMPANY a holding company owned by Sailor.