Subscribe to The Daily Upside! (Free Business & Finance Newsletter) According to Forbes Magazine there are 2,755 billionaires in the world today. The top five industries where they made their money are Finance, Technology, Manufacturing, Retail and Healthcare. It is rare to become a billionaire, but even more unusual to reach that level and then lose everything, but it is not unheard of.
Today we’ll look at ten one-time billionaires who later went bankrupt, and one whose net worth fell from eight billion dollars to two million dollars.
Some of the people on this list lost their money through unfortunate investments, some through engaging in criminal activity. One gained her billions through divorce and then squandered it all, and one just gave it all away.
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Timestamps
0:00 Sponsor
0:14 Introduction
1:00 Anil Ambani
2:45 Jesse Livermore
4:17 The Daily Upside – Sponsorship
5:27 Bill Hwang
7:17 Elizabeth Holmes
8:56 Eike Batista
11:05 Bernie Madoff
12:45 Allen Stanford
14:45 Sean Quinn
17:14 Jocelyn Wildenstein
18:30 Adolf Merckle
21:38 Chuck Feeney
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