Over the last year, he has sold assets for nearly $1 billion.
So management decided to sell the company's assets and take the company private.
Within a few years, he sold the company's assets for a total of $8 billion.
Selling individual assets could mean a big tax hit for the company.
The company said it expected to sell assets for about $1.1 billion.
As part of the deal he may be forced to sell assets worth $2 billion within the next three years.
So, like the owner of any business going under, he began to sell assets.
In 1850, he sold his assets and headed to California.
He had been in charge of selling the company or its assets.
"But we won't know the total costs until the last asset is sold."