Sam Wyly

Once worth $1 billion, Sam Wyly is bankrupt but still fighting

Wyly founded University Computing Co. in 1963 with $1,000 in the bank and grew it into a multimillion-dollar computer services company. In 1967, Sam and Charles purchased the Bonanza Steakhouse chain and expanded it to 600 stores before selling it in 1989.

In 1982, the Wylys bought controlling interest in Michaels, the craft store chain. It grew from a private company with $10 million in revenue in 1982 to $1.2 billion public company in 2006.

He once worked for IBM. Moved to Honeywell, where he helped get them into computers. He figured if he could do that for Honeywell, he could damn well do it for himself. With just a thousand bucks, he started University Computing Company and began to make his first fortune.

For someone so savvy, why isn’t his book — 1,000 Dollars and an Idea: Entrepreneur to Billionaireavailable as an ebook?

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Filed under Napoleon Hill, Reference

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