Wine Turns Mortgage Title Mogul Into Entrepreneur of Viticulture
Wine Turns Mortgage Title Mogul Into Entrepreneur of Viticulture
Feb 17, 2012 6
(Bloomberg) -- On a crisp winter's day in 2010, Bill Foley was exploring a troubled winery for sale in Sonoma County, California, when he was taken aback by the sight of an enclosed horse-riding ring the size of an airplane hangar.
Foley, who made a fortune selling mortgage title insurance during the housing boom, also recalls seeing a California mission-style chapel and a regulation-sized football field and baseball diamond at the Chalk Hill Estate. These extravagant structures had nothing to do with making wine and helped saddle an estate valued at more than $100 million with excessive debt, Bloomberg Markets magazine reports in its March issue.
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