He then purchased a special insurance policy guaranteeing that the value of his stake would be preserved, should anything happen to Goldman.

The value of his stake has dropped by about 25 percent in the last year.

As Microsoft's shares dropped 25 percent last year, the value of his stake fell to $12.88 billion from $17.47 billion.

Thus, to equate the value of the company with the value of his stake was not realistic.

But consider that in the last year alone, the value of his stake in Microsoft has nearly doubled, going up by more than $2.5 billion.

Yesterday's gain reflected optimism on the value of its stake in a French mobile telephone company.

Automatic Data said it had reduced the value of its stake in Bridge to $45 million from $90 million.

They valued 3Com as being worth $23 billion less than the value of its stake in Palm.

The value of the Wanglee's controlling stake, estimated around 40 percent, has tumbled in tandem.

But since it was formed in 1930, the value of their stake has been set at $25 a share.