Moneycontrol
you are here: HomeNewsWorld
Last Updated : Mar 23, 2018 02:01 PM IST | Source: Moneycontrol.com

From riches to rags: These billionaires have lost all their money

Here are the world's top 10 billionaires who lost all their risches.

Moneycontrol News @moneycontrolcom
Robert Kiyosaki, founder of the Rich Dad Company put it well when he said, “It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” While many billionaires have managed their funds appropriately, there are some who have let billions of dollars slip out of their palms easily. Here’s a look at their riches to rags story.
1/10

Robert Kiyosaki, founder of the Rich Dad Company put it well when he said, “It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” While many billionaires have managed their funds appropriately, there are some who have let billions of dollars slip out of their palms easily. Here’s a look at their riches to rags story.

Who: Eike Batista | Chairman, EBX Group | Peak value: Rs 2,28,357 crore | Has a negative net worth as of Rs 6,500 crore as of 2014 (Picture: Reuters)
2/10

Who: Eike Batista | Chairman, EBX Group | Peak value: Rs 2,28,357 crore | Has a negative net worth as of Rs 6,500 crore as of 2014 (Picture: Reuters)

Who: Bernard Madoff | Stockbroker | Peak value: Rs 1,10,849 crore | Madoff and his wife has a net worth Rs 839 crore as of 2009 | Madoff's assets were forfeited after he admitted to run a ponzi scheme estimated Rs 4,21,494 crore (Image: Reuters)
3/10

Who: Bernard Madoff | Stockbroker | Peak value: Rs 1,10,849 crore | Madoff and his wife has a net worth Rs 839 crore as of 2009 | Madoff's assets were forfeited after he admitted to run a ponzi scheme estimated Rs 4,21,494 crore (Image: Reuters)

Who: Patricia Kluge | Entrepreneur | Peak value: Rs 42,387 crore | Kluge has a negative net worth of Rs 2,92,231 crore as of 2011 | Kluge filed for bankruptcy after she racked up millions in debts due to bad investments (Picture: Charlottesville UnCorked)
4/10

Who: Patricia Kluge | Entrepreneur | Peak value: Rs 42,387 crore | Kluge has a negative net worth of Rs 2,92,231 crore as of 2011 | Kluge filed for bankruptcy after she racked up millions in debts due to bad investments (Picture: Charlottesville UnCorked)

 Who: Elizabeth Holmes | CEO, Theranos | Peak value: Rs 29,349 crore | In 2015, Forbes revised her net value to nothing | Holmes lost all her money due to allegations of fraud and lawsuits against her company, Theranos, that claimed to revolutionize medical testing with inexpensive blood tests (Image: Reuters)
5/10

Who: Elizabeth Holmes | CEO, Theranos | Peak value: Rs 29,349 crore | In 2015, Forbes revised her net value to nothing | Holmes lost all her money due to allegations of fraud and lawsuits against her company, Theranos, that claimed to revolutionize medical testing with inexpensive blood tests (Image: Reuters)

Who: Aubrey McClendon | CEO, American Energy Partners | Peak value: Rs 19,581 crore | McClendon had a net worth of a paltry Rs 3,254 at the time of his passing in 2016 | A federal jury had indicted McClendon on charges of conspiring to rig bids for the purchase of oil and natural gas leases in northwest Oklahoma (Image: Reuters)
6/10

Who: Aubrey McClendon | CEO, American Energy Partners | Peak value: Rs 19,581 crore | McClendon had a net worth of a paltry Rs 3,254 at the time of his passing in 2016 | A federal jury had indicted McClendon on charges of conspiring to rig bids for the purchase of oil and natural gas leases in northwest Oklahoma (Image: Reuters)

 Who: Allen Stanford | CEO, Stanford Financial Group | Peak value: Rs 13,060 crore | His present net worth is unavailable | Stanford lost his money to pay Rs 38,394 crore as penalty after being convicted for running a Ponzi scheme and fraud (Image: Reuters)
7/10

Who: Allen Stanford | CEO, Stanford Financial Group | Peak value: Rs 13,060 crore | His present net worth is unavailable | Stanford lost his money to pay Rs 38,394 crore as penalty after being convicted for running a Ponzi scheme and fraud (Image: Reuters)

Who: Vincent Kennedy McMahon | CEO of WWE | Peak value: Rs 11,685 crore | McMahon has a net worth of Rs 4,883 crore as of 2014 | The WWE CEO lost more than 30 percent of his fortune in one business deal (Image: Reuters)
8/10

Who: Vincent Kennedy McMahon | CEO of WWE | Peak value: Rs 11,685 crore | McMahon has a net worth of Rs 4,883 crore as of 2014 | The WWE CEO lost more than 30 percent of his fortune in one business deal (Image: Reuters)

Who: Björgólfur Guðmundsson | Former owner, West Ham United FC | Peak value: Rs 7,182 crore | In 2008, Forbes revalued his net worth to nothing | Guðmundsson was declared bankrupt by the Icelandic courts with debts of almost Rs 6,25,128 crore (Image: www.rankred.com)
9/10

Who: Björgólfur Guðmundsson | Former owner, West Ham United FC | Peak value: Rs 7,182 crore | In 2008, Forbes revalued his net worth to nothing | Guðmundsson was declared bankrupt by the Icelandic courts with debts of almost Rs 6,25,128 crore (Image: www.rankred.com)

Alberto Vilar | Investment Banker | Peak value: Rs 6,194 crore | Vilar's present net worth is unavailable | In 2008, Vilar was convicted for money laundering, investment advisor fraud, securities fraud, mail and wire fraud (Image: Reuters)
10/10

Alberto Vilar | Investment Banker | Peak value: Rs 6,194 crore | Vilar's present net worth is unavailable | In 2008, Vilar was convicted for money laundering, investment advisor fraud, securities fraud, mail and wire fraud (Image: Reuters)

First Published on Mar 23, 2018 08:19 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant