Being a billionaire is not easy. But once you’re one, there is no looking back. You can buy all the things you want such as expensive cars, stylish clothes, etc. and still have money left. But things didn’t go well for these billionaires. Due to some wrong choices or bad luck, they lost all their money and are no longer a billionaire anymore. Check out the list of these 7 billionaires who lost everything.
1. Eike Batista
With an estimated worth of $ 35 billion in 2012, he was the richest person in Brazil and the 7th richest in the world. He had oil fields in Brazil and used to do mining mainly of oil and gas. But when one of his oil fields didn’t have as much oil as was expected, his investors lost their trust in the company. As a result, in 2013 the company filed for bankruptcy because it was unable to pay its debt payments.
2. Sean Quinn
He was Ireland’s richest man in 2008. His net worth was 6 billion dollars. In a bad decision, he invested 2.8 billion dollars into the Anglo Irish bank who further invested in Irish construction companies. But, the bank suffered huge losses when the country’s property rates stoop low and so did Quinn. The government then seized the ownership of Quinn’s companies and his family was left with less than 15,000 dollars.
3. Manoj Bhargava
This Indian businessman made a surprising product called ‘5-hour energy’. This was an energy drink which used to give energy for 5 hours. The product was going very well in the market until in 2012, the FDA charged the drink for causing 13 deaths in 4 years. The sales were affected and hence his net worth decreased making him no longer a billionaire.
4. Masayoshi Son
He had a personal net worth of around 80 billion dollars before 2000. This was from his company Softbank, one of Japan’s largest telecom company. But in 2000, the internet bubble burst happened and as a result, the company was affected losing around 80% of its share value. Son lost around more than 70 billion of his personal net worth.