I love it when people surprise me. One such person that knocked my socks off so to speak on breaking the traditional shipping CEO mold was Robert Bugbee, President of Scorpio Tanker Group. Bugbee has expanded his investments into other industries that either you or maybe your children have used. I know my kids and I have used them all. Take a look into this interesting shipping titan.
Below is an excerpt from Bugbee’s Chapter in Dynasties of the Sea which is under copyright from Marine Money International.
Expanding His Investing World
Shipping may be Bugbee’s first love but the attraction of a good investments has taken him into other industries, investing in the influence monitor site Klout, GameSalad, the world’s fastest game design engine as well as being one of the early investors of Jones Soda. He said it’s satisfying to be engaging in a different part of the world and diversifying his portfolio at the same time. “Investing in tech start up’s appeals to me because it’s the idea of building things. It’s just really fun – you see these little companies and, of course, you can pick 20 companies and four to five will be hopeless and bust; but seeing a little company that was just a drawing board project succeeding, It’s wonderful to be a part of that journey.”
One of the reasons why he likes investing outside of shipping is the lack of emotional attachment to the products. “The hardest thing in shipping is, you cannot fall in love with your assets. But the problem is, by definition, to be successful; I think you need to love what you’re doing in shipping. So the hardest thing is you have your brain, going, ‘It’s time to go, it’s time to sell’ and you are emotionally attached. In these start-ups its easier you say to yourself that’s okay, that’s alright, let’s move on to the next one.”