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The entrepreneurial Gold Coast couple, both in their 30s, sold their Culture Kings business for hundreds of millions of dollars in 2021.
Their deal with an American buyer involved $307 million in cash plus 23.3 million shares in a new US company that was to own Culture Kings and other brands.
The deal put them on a 2021 rich list with a worth of $626 million, half of it in paper money – share scrip that isn’t cash until it’s sold.
The Beards’ shares, at their peak after listing in New York, hit $US14.76.
Last week they were badly out of fashion, trading at around US55c.
That meant the Beards had seen a holding that had peaked at a market value of $US343.9 million depreciate to $US12.8 million.
That initial holding was topped up by on-market buying after the new Culture...