Re: Yellowstone Club World-Tamarindo
Posted by sparks on August 6, 2008, 4:57 pm, in reply to "Re: Yellowstone Club World-Tamarindo"
Two seperate articles ..... |
Burlingame, Calif. - Tim Blixseth grew up poor in Oregon, made a fortune selling timberland, and thanks to his skilled dealmaking, created The Yellowstone Club, a posh private skiing and golf resort on a vast spread in the mountains near Big Sky, Montana. In large part due to his ownership of the Yellowstone Club, he entered the ranks of the Forbes 400 Richest Americans; last year, his net worth was an estimated $1.3 billion.
Now Blixseth's luxe resort--which attracted as members the likes of Bill Gates and former Citigroup (nyse: C - news - people ) Chief Financial Officer Todd Thomson and early last year boasted it would have one of the world's most expensive residences--has become the centerpiece of a bitter divorce battle, with allegations of a liquidity crunch at the club on one side and emphatic denials on the other. This has left members up in arms.
Tim had grand plans to create an ultra-high-end international club called Yellowstone Club World. In 2005 and 2006 he gallivanted around the world to purchase sites for the club, including a château in France for $28 million, a golf resort on Mexico's Pacific coast for $40 million and a private island in Turks and Caicos for at least $20 million. The membership fee for the club, which was to include access to the Yellowstone Club in Montana, began at $1.5 million. In a May 2006 e-mail to a FORBES writer Blixseth gushed that he'd "sold out" the 25 charter memberships in one day. "I like it when the idea is validated by purchases," he wrote. Blixseth now says he only sold upgrades to existing club members.
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