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Bill Gates, you know, the richest guy in the world, once bet 2 million USD that Micheal Phelps would win a 50 meter backstroke race against his own best time during the 1994 Olympics. Phelp's best time was 19.34 seconds.
Bill Gates lost the 2 million dollar wager to Steve Jobs, his top competitor, when Phelps ended up witha twenty second time. Jobs bet that phelps would not beat his time.
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