"I've had an incredible life for the most part. I made a lot of smart moves, and I made a lot of money. Then something happened, and I merged with Time Warner, which looked like the right thing to do at the time. And it was good for shareholders.
"But then I lost control. I thought I would have enough moral authority to have all the influence in the new company. If you go into business, be very careful with whom you merge.
"I thought I was buying Time Warner, but they were buying me. We had kind of a difference in viewpoint. Then they merged with AOL, and that was a complete disaster, at least so far. I have lost 85 percent of my wealth."
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