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The Story Of How Patricia Kluge Blew A $100 Million Divorce Settlement But Persevered In The End
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How exactly does someone lose a billion dollar fortune? Could you handle going from billionaire to zero?
#9: Bjorgolfur Gudmundsson
This Icelandic former billionaire saw his $1.1 billion net worth evaporate in the wake of his country s credit crisis in 2008. He was a major shareholder in a bank called Landsbankin that went under. When it went down, so did Gudmundsson s assets. Gundmundson was the owner of the West Ham United Football Club. After his fortunes faded he was forced to sell the team.
#8: Sean Quinn
Sean Quinn was the richest person in Ireland at his peak, with a net worth of $6 billion in 2008. Three years later, he filed for bankruptcy. Quinn invested 25% of his family s wealth, roughly $2.8 billion, in the Anglo Irish Bank. Unfortunately he made the grave error of borrowing the money for the investment from his own insurance company. Anglo Irish Bank nearly collapsed during the recession and financial crisis of 2008. This put Quinn billions of dollars in debt and ca
, a series of stories checking in on how things are going now for the people and products that were riding high during the last administration.
Donald Trump’s business empire did not exactly thrive during his presidency. Branding deals collapsed as his nameturnedtoxic in much of the country. The pandemic clobbered his hotels and golf resorts. The Capitol riots of Jan. 6 led longtime partners like Deutsche Bank, his most important lender, and the PGA of America, which moved its championship away from his New Jersey golf club, to finally cut bait.
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Yet through all the havoc, it seems that at least one Trump enterprise might not only have benefited from his initial White House run, but continued to flourish through the ups and downs of his Oval Office tenure and into his post-presidential era. That would be the Trump Winery, the apparent success of which is nothing if not a testament to the triumph of politics over taste.
Diez multimillonarios que lo perdieron todo
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These Are 10 Billionaires Who Went Broke It is very rare for a person to achieve the status of billionaire and then lose it. Although it is a rare occurrence, it is not unheard of. Usually, one expects a billionaire to be shrewd enough to protect their wealth. However, situations could get tough sometimes. Unfavorable economic scenarios, bad investments or fraud can […] Free Book Preview
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It is very rare for a person to achieve the status of billionaire and then lose it. Although it is a rare occurrence, it is not unheard of. Usually, one expects a billionaire to be shrewd enough to protect their wealth. However, situations could get tough sometimes. Unfavorable economic scenarios, bad investments or fraud can force billionaires to file for bankruptcy. Let’s take a look at
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