Phil Hellmuth's rummy circle download apkMissed Opportunity to Turn $15K into $80M

Table Of Contents

• The $15,000 Investment That Could’ve Paid Off Big
• The Stages of Grief
• The L That Stings More Than the Money

Phil Hellmuth is no stranger to cashing in on opportunities. After all, the all-time WSOP bracelet winner has built a career out of turning skill and charisma into a steady stream of endorsement deals, sponsorships, and appearances. If there's a dollar to be made, you can bet Hellmuth knows how to find it.

So, when it was revealed that he passed up an investment that could’ve turned $15,000 into a whopping $80 million, it raised a few eyebrows. Even the Poker Brat isn’t immune to a misread every now and then.

The $15,000 Investment That Could’ve Paid Off Big

Alan Keating shared the story during an appearance on the Doug Polk Podcast, and it's one that sounds straight out of a poker bad beat story. Keating was approached by an entrepreneur who wanted to get some important investors involved in his business.

"He was irate for four or five days when he kind of figured it out,"

After some back and forth, Keating, who didn't name the business, helped set up an offer for Hellmuth: He could invest $15,000 for a 4% stake in the business.

To Keating, it seemed like a solid deal—basically a steal, with Hellmuth getting in at a 99% discount. Keating even negotiated some extra perks for him, such as advisor shares.

But when Hellmuth was presented with the opportunity, he wasn’t so sure. Keating sent the deal to Hellmuth and a handful of other top investors. But everyone passed. They weren’t convinced the business was worth the risk. Hellmuth, trusting the judgment of these seasoned investors, decided to pass, too.

https://twitter.com/phil_hellmuth/status/1905137261496185034

Fast forward to November of the following year, and Keating got a call from a secondary broker offering to buy his shares. The company had been valued at $2 billion. That 4% stake Hellmuth would’ve had? It was now worth $80 million.

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The Stages of Grief

"When you take an L like that, the L hurts almost more than the money does to Phil."

When Keating broke the news to Hellmuth, it wasn’t pretty. He described Hellmuth’s reaction as a rollercoaster of emotions.

In Keating's words, it almost sounded like the Terminator 2 scene where the T-1000 is slowly melted down in a pit of molten steel. Hellmuth, Keating said, went through what could only be described as the "stages of grief." It was rough.

"He was irate for four or five days when he kind of figured it out," Keating said. And who could blame him? Realizing that $15,000 could have turned into $80 million has to hurt, even if you're Phil Hellmuth.

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The L That Stings More Than the Money

For Hellmuth, the $80 million loss stings, but it might be the fact that he passed on something that seemed like an obvious opportunity that hurts even more. Polk mentioned that part of Hellmuth's personality is wanting to be right. He’s a guy who prides himself on his instincts, whether it’s at the poker table or in business. So missing out on this deal probably cuts deeper than the money itself.

As Polk put it, "I think part of Phil’s personality is like being right at things. And when you take an L like that, the L hurts almost more than the money does to Phil."