Last year i wrote a quick story about the internet’s underground black market drug website, Silk Road, where you could buy pretty much anything anonymously. Hard drugs,prescription drugs, guns, whatever. At the time it was said that the site was doing deals worth just over $20 million a year and the owner must be some hardcore drug lord type dude, but a recent indictment has revelealed the truth after the site was shutdown. Silk Road actually made a staggering $1.6 billion in sales in two years and the owner pocketed $80 million in commission. And who is the owner…well he’s just a 29yr old engineer living in San Fransisco and goes by the name of Ross Ulbricht.
He has a hipster moustache and wears sandals.
Yep..that guy ran a business that turned over nearly a billion dollars a year and yet he lived in an apartment in San Francisco and paid $1000 rent a month.
“According to the indictment, Silk Road was bigger than anyone had suspected: It boasted over $1.6 billion in sales from 2011-2013, which resulted in $80 million in commissions. (Researchers had previously estimated that Silk Road was doing about $22 million in total sales per year.) According to the indictment, which claims that FBI agents obtained a mirror of the server that housed Silk Road’s business from law enforcement in an unidentified foreign country, Ulbricht “alone has controlled the massive profits generated from the operation of the business.” [Gawker]
Cue a movie deal.