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Antivirus Software Pioneer John McAfee Loses Fortune - ABC News

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Antivirus Software Pioneer Gets Dose of Reality

By CHRIS BURY
Mary Marsh

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McAfee: 'We Are the Ultimate Consumer Society'

McAfee admits that he got caught up in the culture of consumption.

"We are the ultimate consumer society," he said. "If you succeed within that culture, then you're simply more bonded to it. You feel like, 'Yes, I've got all this money, the ability to get things' ... and so you just do it. People buy yachts, they buy jets, they buy multiple homes."

McAfee himself indulged his whims and passions, spending millions to promote the sport of aero-trekking: tiny motorized kites that enthusiasts fly to explore the remotest corners of the country.

He built an aero-trekking playground in the Rodeo desert, which was auctioned off for $405,000 -- along with the vintage airstream trailers where his aero-trekking friends, known as "the sky gypsies," would stay, as well as his own customized camper, once owned by Howard Hughes.

Super-Rich Rapidly Downsize

In this recession, Jim Gall, McAfee's auctioneer say that even the rich have been rapidly downsizing, selling off the luxury items they accumulated in better times.

"We've had corporate aircraft, we've had yachts, we've had fancy cars, Ferraris, we've had lots of jewelry. We've had lots of people saying, 'These are toys that I can live without,'" said Gall, chairman of the Auction Company of America.

McAfee says he expects no sympathy. "Oh, God, I hope they don't have sympathy. I don't have sympathy for my position," he said. "I'm perfectly happy."

In fact, he believes that to a certain extent, the recession has served a useful purpose: "It's brought home a dose of reality," he said. "And sometimes a little pain is necessary to see and understand the true circumstances of your life."

McAfee's Outlook on Money Forever Changed

In McAfee's case, his Rodeo paradise -- on which he's spent millions -- drew only a few modest bids. The home, which included the airstrip and hangar, sold for $525,000 to a couple from the Washington, D.C., suburbs.

"It's a little less than what I paid for the landscaping," he said. "Somebody got a great deal."

McAfee's entire estate -- including the "sky gypsies" complex, a store, furnishings, antique cars, trailers, and a vast collection of art work -- was auctioned off for $1.6 million to different buyers. Even after seeing his possessions that he acquired over a lifetime sold off in just a few hours, McAfee says that he has no regrets.

"I'm happy to get rid of them [possessions]. I have a few pennies in my pocket. I don't have stuff to worry about," he said.

Some of the "stuff" McAfee did not sell -- $2 million worth -- he says he gave away to residents of Hidalgo County in southwestern New Mexico.

"I took a hangar and filled it with classic automobiles and art and furniture and put up notices up all over the county and people came and took what they wanted," he said.

McAfee plans to take his remaining handful of millions and head to Central America, where he's started a new venture to develop natural medicines.

But for someone who's lost nearly $90 million, McAfee seemed remarkably relaxed.

"I feel freer. I have less responsibility and obligations. And I have enough money left to feed myself," he said.

After 65 years, his attitude about money, he says, is forever changed.

"I think most people don't sit down and ask, 'What do I need?" not "What do I want?" Because we all want everything," he explained. "But what do we need? We don't need very much. We really don't ... The things we want and the things we need are two different things."

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20 KiB Raw Blame History