Added by Gary Dunn on April 2, 2011
In a new memoir, Microsoft co-founder Paul Allen claims Bill Gates plotted to rip him off and grab his shares in the software giant.
Allen’s new memoir, “Idea Man” was published on Wednesday by Vanity Fair magazine, in which he describes Gates as “brilliant but a schemer”.
The book gives an unfavourable view of the rise of Bill Gate, now the world’s second richest man with his US$56 billion fortune, his MS-DOS operating system and the early history of the Micro-Soft company established in 1975.
While Allen had assumed a 50-50 split, it soon became apparent that Gates had another idea, and as a result he claimed a 64 percent share of the company. “I might have haggled … but my heart wasn’t in it,” Allen said about agreeing to the deal.
After years of illness and conflict, Gates tried to buy Allen out, making a “low-ball offer” of US$5.00. Allen countered with US$10.00, an offer which Gates rejected.
In hindsight, Allen, by holding on to his shares, with his current US$13 billion in the bank, now ranks 57th on the global lists of billionaires compiled by Forbes.