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Perot intends to make F.I. du Pont one of Wall Street's strongest brokerages no matter what the cost. "I believe in over-financing, if necessary, to restore confidence in the firm after what it has been through," he says. "I am going to make it as solid as the Prudential." One small problem is that his own wealth is almost wholly in E.D.S. stock, and that is not always a good rock to build on. In nine days last April, E.D.S. stock dropped from 150 to 75, and Perot's paper value plunged from just under $1.4 billion to $675 million; it is now $564 million. The company has consistently been strong, but Perot owns so much of its stock (72%), that if he were to try to sell many shares, the price would probably decline. Last week, when he announced plans to dispose of 900,000 of his 8,500,000 E.D.S. shares for more cash to finance Du Pont, the price fell 7¾ points, to 66. "Maybe I should have waved my bankbook in the air instead," says Perot ruefully. "I have $30 million in cash, and I just won't sell stock at a ridiculous price." Perot implied that he will refuse to sell the shares until they rise. He can still draw on a $50 million bank loan arranged by Chase Manhattan.
Perot has not ruled out the idea of buying into other Wall Street houses, though he has no definite plans for doing so. The computer wizard is convinced that his investment will pay off not only for Du Pont but also for his own company. Though brokerages have spent millions on computer technology, he believes few of them are using it wisely. Perot intends to make Du Pont a model operation. "Just imagine the impact when E.D.S. turns Du Pont around," he exults. "It will mean plenty of business for us because we will have dramatically proved to the financial community that our system really works for them." Still another plan is to open a department at Du Pont "that would exist only to finance the ambitious schemes of bright young men who want a chance." Du Pont's new owner has reason to believe that some of those schemes might be sound investments. Just twelve years ago, before he borrowed a small sum and started E.D.S., Ross Perot was earning $530 a month as a computer salesman.