Former Billionaires Who Lost Their Money | TOP 10
Hello! They are 10 Former Billionaires Who Lost Their Money!
The first billionaire in history, John D. Rockefeller, made his first billion in 1916. From there to 1,645 billionaires in 2014, the journey wasn’t that easy.
Making their first billion dollars wasn’t an easy thing to do. From the total number of billionaires only two-thirds of these individuals were self-made billionaires.
Making that kind of money is hard job to do, but keeping them must be just as difficult.
This is where we land our article for today. We enter into the lives of former billionaires and to learn from their mistakes.
This short of things happen because not everyone is built to be a billionaire, and many of them lose their income because of bad investment decisions or because they didn’t know how to handle that much money.
10- T. Boone Pickens
This guy is an American business magnate and financier. His income came from being the chairman of the hedge found BP Capital Management.
Basically he made $1.2 billion from oil and gas investments and through corporate acquisitions.
He hasn’t lost all his fortune, but is true he lost a half of it. Today he is worth half of it, due to his investments towards clean wind energy.
He is ranked #10 on the list of the former billionaire who lost their money by us and Forbes magazine.
In 2013 his net worth was estimated at $1.2 billion, and in 2014 his net worth is estimated around $900 million.
But he seems to be recovering his money, because as of September 2014 Pickens recovered his billion.