Ann: Half Yearly Report and Accounts, page-87

I would disagree with your point 1 above. 

A billionaire would have his team of experts scrutinise every last detail of any potential investment, before they give away their 10 mill of hard earned cash.

BP and his TEAM would have spent months looking at the tech, the people, the books and made many visits to the various locations where they could get a clear picture of what they are investing in.   By the way, many people do think Warren Buffet is a GOD