How Jim Balsillie’s Initial $125,000 RIM Investment Disappeared
Mark McQueen (Wellington Financial) submits:
It has been almost 20 years since Jim Balsillie arrived at 
Research in Motion (RIMM). Mike Lazaridis knew that he needed some help on the business side, and Jim was the answer. One of the first things Jim did was invest $125,000 for a one third stake in the company. The second thing he did was hire an accountant, who quickly produced a balance sheet that showed Jimmy what had become of his $125k. This excerpt is from Rod McQueen’s new book BlackBerry: The Inside Story of Research in Motion. My Dad got exclusive access to Mike and Jim over a multi-year period, and this story is just one of the dozens that we can all expect to read when it launches next week:
Among the many crucial moments in the history of Research In Motion was the arrival of Jim Balsillie in 1992. At the time, when he was hired by Mike Lazaridis, there were only fourteen employees. As RIM’s new vice-president of finance and business development, Balsillie invested $125,000 for a one-third interest in the business.
Investing, Long Term Investment, stock market | admin February 27, 2010
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