March 01, 2007
Billion Dollar Rock Quarry
How's this for interesting... A $50,000 purchase of a rock quarry is really worth millions (billions?). Here's an excerpt from the whole story, which can be found here:
Matt White, a journeyman pitcher trying to make the Los Angeles Dodgers, could become baseball's first billionaire player.
It has nothing to do with his arm. He owns a rock quarry in western Massachusetts. White, who has appeared in seven big league games in nine professional seasons, paid $50,000 three years ago to buy 50 acres of land from an elderly aunt who needed the money to pay for a nursing home.
While clearing out a couple acres to build a home, he discovered stone ledges in the ground, prompting him to have the property surveyed. A geologist estimated there were 24 million tons of the stone on his land. The stone is being sold for upward of $100 per ton, meaning there's well over $2 billion worth of material used for sidewalks, patios and the like.
No word on what happened to the aunt (who one assumes is either still in a nursing home or who has passed away). Apparently White may turn his tale into a movie.
[Miriam A. Cherry]
TrackBack URL for this entry:
Listed below are links to weblogs that reference Billion Dollar Rock Quarry: