What Are John Hume’s Rhinos Really Worth?
Are 2,000 captive-bred, farmed rhinos of any value from either a commercial or conservation perspective? John Hume, the owner of the world’s largest private rhino herd, is auctioning off his rhino farm, the starting bid being US$10 million. The question is, what are Hume’s rhinos really worth? In recent weeks there have been quite a few emotional appeals from John Hume and his supporters to ‘see the value’ in what is being offered. I get that many people believe that this is John Hume’s life’s work, but the US$150 million the one-time billionaire reportedly spent on this enterprise is, in business terms, the project’s sunk cost. It is a business risk he chose to take, as he farmed [...]