Miles Nadal is the founder of MDC Partners – the world’s eighth-largest advertising holdings company – and 2014 was a very good year for both Nadal and MDC. So good, in fact, that Nadal decided to splurge on a McLaren P1 in Gulf livery for a reported $1.25 million. Unfortunately for Nadal, that was just one of the many expenses that caught the attention of the Securities and Exchange Commission [SEC] that Nadal racked up between 2009-14 and triggered an investigation into improper expenses that – as of today – killed MDC stock to the tune of taking a 30% hit once investors saw that SEC investigation shindig. Nadal bought the McLaren after selling off 40% of MDC last year, a sale that netted him $81 million.
If the SEC successfully takes down MDC Partners, Nadal stands to make another $27 million from his severance package, so another P1 McLaren may be in his future.
