Taking Stock - Dot.com revolution brings divorce dilemma.
Since most dot.com millionaires don’t seem to be long out of short trousers, marriage is probably the furthest thing from their minds. But for the divorce lawyers and accountants that advise on financial settlements, the importance of ‘virtual’ share options hasn’t been missed. The plunging stock of tech companies – and the resulting increase in adolescent angst – might have raised a smile among those of us ambling along in the old economy. But there is no ignoring the fact that there’s still gold in them thar silicon hills – something not lost on Dragoslav Lazarevic. The Hacker Young partner recently advised the wife of a dot.com shareholder to accept shares in a divorce settlement instead of cash. A tad dubious at first given the uncertainty surrounding the future of dot.coms, the wife eventually accepted. Just as well for her that she did. It was later discovered that the technology-based company had real potential. ‘Their value might be worth #60,000 today, but could potentially be worth as much as #600,000 within two or three years,’ said Dragoslav. Until TS finally hits on that web idea that will make us millionaires – and it’s only a matter of time, we feel sure – we won’t worry too much.