15 Former Billionaires Who Lost Their Riches
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3:34 AM |
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Life is worth living because the ride of life is like a
roller coaster, full of ups and downs. People give their best effort to
enjoy to life to the fullest but not everyone is lucky to hold their
money for lifelong. Everyone needs money in order to live. People word
hard during this given time of God to make money and also to guard them.
Despite of earning well, they continue to work even harder. They are
afraid of losing their wealth. There are less than a two thousand
billionaires in the world today. There are some billionaires who sadly
broke or bankrupt, and some are paying for their crimes behind bars.
Here is a list of 15 former billionaires who lost their riches.
1. Martha Stewart: Martha Stewart is a former fashion model who built her empire from scratch. Martha Stewart became a billionaire when she was behind the bars while the value of her stocks climbing by 90%. She is truly a leader in entrepreneurship, unlike others who lose their wealth immediately while they live in prison. She was in jail for 5months and lost the billionaire status for the second time within a matter of weeks when her dropped by 40%. But fortunately Martha is still a wealthy entrepreneur.
2. Robert Johnson: Robert Johnson is the first listed black billionaire in the world. He is the founder of Black Entertainment Television and made billion after selling the company to Viacom. His wealth was split his $1,2 billion in half when he got divorced, though he made a comeback in 2007 but the stock market crash and an ever-changing business strategies has kept him within millionaire region.
3. Frank Levinson: Frank Levinson is an entrepreneur and investor who is the founder and managing director of Small World Group. Frank attained a net worth of $2 billion in 2000 but his financial condition was dented by his divorce and drop down of value of stock of the company. He is a millionaire now.
http://www.hedmafia.com/15-former-billionaires-who-lost-their-riches/
4. Bobby Ray Johnson Jr.- Bobby Ray Johnson Jr. is an American entrepreneur and founder of Centilliion Networks which he sold to Bay Networks in 1995 for $140 million. He is a former IBM software developer too. His Bay Networks together with Centillion products and technologies was further bought by Nortel Networks Corp. for $1 billion. Bobby became an instant billionaire with a net worth $2.3 billion when the share rose by 525%. The drop of the value of the shares snatched the billionaire status from Bobby although he is still a millionaire.
1. Martha Stewart: Martha Stewart is a former fashion model who built her empire from scratch. Martha Stewart became a billionaire when she was behind the bars while the value of her stocks climbing by 90%. She is truly a leader in entrepreneurship, unlike others who lose their wealth immediately while they live in prison. She was in jail for 5months and lost the billionaire status for the second time within a matter of weeks when her dropped by 40%. But fortunately Martha is still a wealthy entrepreneur.
2. Robert Johnson: Robert Johnson is the first listed black billionaire in the world. He is the founder of Black Entertainment Television and made billion after selling the company to Viacom. His wealth was split his $1,2 billion in half when he got divorced, though he made a comeback in 2007 but the stock market crash and an ever-changing business strategies has kept him within millionaire region.
3. Frank Levinson: Frank Levinson is an entrepreneur and investor who is the founder and managing director of Small World Group. Frank attained a net worth of $2 billion in 2000 but his financial condition was dented by his divorce and drop down of value of stock of the company. He is a millionaire now.
http://www.hedmafia.com/15-former-billionaires-who-lost-their-riches/4. Bobby Ray Johnson Jr.- Bobby Ray Johnson Jr. is an American entrepreneur and founder of Centilliion Networks which he sold to Bay Networks in 1995 for $140 million. He is a former IBM software developer too. His Bay Networks together with Centillion products and technologies was further bought by Nortel Networks Corp. for $1 billion. Bobby became an instant billionaire with a net worth $2.3 billion when the share rose by 525%. The drop of the value of the shares snatched the billionaire status from Bobby although he is still a millionaire.
