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If the above is true, then he definitely lost money on the deal. But it's possible that he would have lost more had he participated in the cash calls.
George W. Bush, for example, got a greater percentage of ownership in the Rangers than would be expected by the amount he invested, because he was considered to have value besides the money he was investing. The same may have be true for Ryan also.
TDF, its not clear that Ryan actually invested $13M. As Hank pointed out, Ryan probably provided a name and face to the group in exchange for some of the equity.
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