I really think we need to get rid of these private equity vultures. This article on hospital landlord Medical Properties Trust is BONKERS. Over a dozen of its hospitals have collapsed while its stock soars, buoyed by a food wholesaler and a math professor who bought nearly $500 million of the stock. How these two guys came up with the money to fund their half-billion dollar investment is beyond me.
https://prospect.org/health/2025-03-18-hospital-empire-closing-its-doors-stock-on-a-tear-mpt/
From the article:
How these two low-profile gentlemen came up with the funds to finance their nearly half-billion-dollar combined investment in MPT is a head-scratcher. Yet’s seafood wholesaler D&T employs 24 staffers and generates about $7.5 million in annual revenue, according to Experian Business Services; the biggest transaction in which he has publicly engaged is the sale of a vacant property owned by one of his real estate partnerships in San Jose for $6.9 million in 2023. And while He has owned stakes in companies valued as high as $20 million in the past, he declared in 2022 under penalty of perjury that his income totaled just $10,000 a month, in an application for criminal indigent status he filed after local police arrested him for punching and threatening to kill the mother of his then 17-month-old child at the house they apparently shared in Odessa, Florida. He told the Prospect that the case was a personal matter that was dropped.
He said on the application that his sole source of income at the time was the earnings from three businesses he owned in Tampa, presumably a reference to nightclubs he co-owned with various area promoters he would later accuse of defrauding him. He made no mention of his home and assets back in Reno with his presumably estranged wife. The following year, He moved to a condo in Houston and incorporated a number of entities that appear to be hospitality-related, including something called Tyshin, Inc., he formed in partnership with Sun Jiang, a moderately prolific sushi restaurateur.
Both Jiang and Yet now live in Sugar Land, Texas, an affluent suburb about 20 miles southwest of Houston. Perhaps coincidentally, so does Steve Hamner, MPT’s chief financial officer of more than 20 years, whose stately 5,300-square-foot home is about four miles from Jiang’s home and Tyshin headquarters.