Once high-flying hedge fund manager John Devaney, who may or may not have been booed offstage a month ago, has spent the past 18 months selling a bunch of his toys.
Page Six Magazine: John listed his Aspen mansion for $21.5 million in July 2007, when his hedge fund sank and he started stiffing investors for millions. “I’m totally devastated,” he moaned after hemorrhaging more than $150 million of his own money. “I am bleeding, personally.” Within the past 18 months he has hawked his 142-foot yacht, the Positive Carry ($23.5 million), a Sikorsky helicopter ($11 million) and a Renoir ($13.5 million). “Devaney may finally have to start living like a millionaire instead of a billionaire,” sniped one detractor. “I’m sure it will be tough.”
But things may be looking up…
“Instead of crawling under my desk,” John says, “I’m holding my head up high.” An insider reports he just bought a seaplane and still trades with the $50 million he has left.