From luxury to poverty: how the rich who have lost everything live

The stories of billionaires leave no one indifferent. Everyone tries to find in their success stories the factors that he needs to adapt to become a more successful person. At the same time, it is often forgotten that unexpected success can lead to an equally rapid fiasco. As a result, you can lose all the property in a few decades, and some manage to “drain” capital even faster. Today there are about 2,000 billionaires on the planet. They own a fortune in the amount of 85-90 percent of the total wealth of all inhabitants of the Earth. But staying on top is difficult, and no one is protected from losing wealth. The most striking stories of his loss require more detailed consideration.

Martha Stewart

Statistics show that women with a multi-billion dollar fortune remain a rarity, so Martha’s example becomes even more expressive. Martha Stewart is a former model who managed to create her own media empire from the bottom up. This was helped by her natural entrepreneurial streak. It is worth noting that Martha became a billionaire at the time she was in prison, which is nonsense in the case of the powerful. She received a 5-month sentence after it was proven in court that Martha used inside information for enrichment purposes. Within 2 weeks after her release from prison, Marta lost her status, as her company’s shares plummeted by 40 percent. Today Martha remains a successful entrepreneur, but she was never destined to achieve her previous results.

Robert Johnson

The name Bob Johnson became famous already because he became the first official African American billionaire. He owns the BET channel, which he not only made popular but also successfully sold the huge multimedia network Viacom for a fabulous $ 1.2 billion. This was done only to lose half of this money in a couple of years after the transaction. By 2007, Johnson had almost managed to return to his capital and briefly regain his billionaire status, only to face a market crash and divorce, which cost him a large chunk of his fortune. Today Johnson cannot be called a beggar for sure, but he only has to remember his past luxurious life.

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Frank Levinson

Frank Levinson was able to make money thanks to his desire to achieve success in every business that he did:

  • investments;
  • entrepreneurship;
  • networking.

It was the latter that brought Levinson the opportunity to become one of the few people on the planet with a state with 9 zeros. The Finsar Corporation, networking, and data storage company, provided its owner with $ 2 billion in 2000. At the same time, Levinson did not retain his status for long, since after a couple of years the company’s value fell, and the expensive divorce proceedings became the second serious blow. Levinson remains a millionaire and has managed to organize his current life well after going broke, earning degrees in physics and astronomy.

Bobby Ray Johnson Jr.

This young man worked at IBM for a long time and managed to create his own company already in 1995, which he would sell in a couple of years for $ 140 million. stock exchange by 525 percent, then his fortune reached $ 2.3 billion. Within a week, the shares lost 90%. He did not become a beggar, maintaining a fairly comfortable standard of living, having managed to save enough in the form of savings.

Thomas Friedman

Tom’s story is an example of how publicity can bring money to citizens. He led his column, in which he did not hesitate to express himself in a way that was not most pleasant for the US authorities regarding the policy pursued at home and abroad. Being a famous person, he managed to profitably marry the heiress of a fortune of $ 3.6 billion. At the same time, the entire fortune was based on real estate and after the 2007 crisis, it was only 25 million.

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