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Sorting Out Tony Hsieh’s Estate, From LLCs to Thousands of Sticky Notes – The Wall Street Journal

Inside Tony Hsieh’s mansion in Park Metropolis, Utah, hundreds of coloration-coded sticky notes lined the partitions, many representing monetary commitments the late Zappos.com Inc. co-founder made to workers, mates and native companies, in accordance to folks acquainted with the matter.

These notes, written by the tech entrepreneur within the months earlier than his late November loss of life and probably functioning as casual contracts, are complicating his household’s race to piece collectively a sprawling and unwieldy property within the a whole lot of thousands and thousands of {dollars}, in accordance to folks shut to Mr. Hsieh and public information reviewed by The Wall Street Journal.

Among the many different issues the Hsieh household is tackling: about $70 million value of actual property he not too long ago bought in Park Metropolis and surrounding areas, a lot of it unfold throughout a couple of dozen restricted-legal responsibility firms; mates of Mr. Hsieh’s who proceed to reside in some of these homes and condominiums; and a $30 million “angel” fund deliberate for tech startups and different companies in Park Metropolis, in accordance to the information and folks shut to Mr. Hsieh.

The complexity of the property—each in what he owned in addition to what he owed to others by numerous commitments—is compounded by what his mates have stated had been struggles throughout his final months with alcohol and drug abuse, notably heavy utilization of nitrous oxide.

Some of these folks stated they don’t consider Mr. Hsieh was of sound thoughts when he made some of his current funding choices or employment agreements.

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