Dan Marino Loses Millions in Digital Domain Bankruptcy, According to Report
Digital Domain, the Florida-based visual effects company that gave the world Titanic, The Curious Case of Benjamin Button, and a Tupac hologram, filed for Chapter 11 bankruptcy recently.
And now, according to Gossip Extra, Dolphins great Dan Marino, who bought 1,576,525 shares in the animation studio, is among the biggest losers in the bust.
Marino's investment, which was worth more than $14 million at one point, is now worth only around $850,000, according to the report.
Marino held 8.6% of the company at the time of the IPO, and when the Tupac hologram appeared at Coachella, the stock shot up to $9.2 per share.
"I know Dan invested in Digital Domain, but that's all I know," said Marino spokesman Ralph Stringer.
Digital Domain, which had been working on an Elvis hologram, had won several Oscars throughout the years, but despite its Academy Awards successes, the company posted losses of $14.8 million in the first quarter of 2012 -- mainly as a result of the expensive new Port St. Lucie studio. The company received tens of millions from the state.
Now Marino, Port St. Lucie, and West Palm Beach are all big losers in the bankruptcy.
But the biggest losers in this are all of us being deprived of an Elvis hologram.