Bjorgolfur Gudmundsson

Billionaires who lost all their money - Many people fantasize about striking it rich. Some of them enter contests, some people play the lottery. Some invent things or go into business for themselves, thinking maybe this will be their big break. More.. 10 WWE stars with shocking health conditions – You will be shocked seeing this 10 Highly glamorous buildings in the world – #1 is a must see! (With Pictures) 10 most powerful militaries in the world for 2015 (With Pictures) Ladies, 9 things men do when they start falling in love with you (Take Note) It’s a fact, you need money in order to live. The only problem is, when a person becomes suddenly rich, there is the danger of losing all those riches very quickly. Here’s a list of 10 billionaires who lost their money:

Vince McMahon Vince McMahon was rich at one time. He was an announcer and promoter for wrestling matches in the pro circuit. He was one of the owners of WWE at one time. He made a lot of money and was even considered a billionaire. McMahon lost a good chunk of his money, hundreds of millions, in just a couple of days. Shares in his wrestling venture dropped, and he ended up making much less than had been anticipated on a deal with a major network. Navigate using arrows below Bjorgolfur Gudmundsson SEE ALSO - 10 Most expensive billionaire homes in 2015 & their owners (+Photos)

Bjorgolfur Gudmundsson used to be a football player and ended up making a lot of money by being owner of football club West Ham United FC and a bank. He is from Iceland, and was one of the first people to become billionaire from that country. He lost his money because of a crisis in banking and then being held accountable for some bookkeeping blunders. He was taken to court and had to pay a lot of money there too. In 2008 he was among the men listed in Forbes magazine as being one of the richest people in the world with with a net worth of $1.1 billion. Later that year, Forbes revalued his net worth to $0 and he was declared bankrupt in July 2009 by the Icelandic courts. Manoj Bhargava Indian born businessman and former taxi driver, Manoj started making money with a plastics company that became a $20 million business. The huge part of his wealth was from his company Living Essentials, which makes the 5-hour Energy drink. In 2012, Manoj was worth $4 billion according to Forbes. A number of heart attack deaths were reportedly linked to his energy drink causing. His net worth is down to $80o million. T. Boone Pickens SEE ALSO - 10 Most expensive billionaire homes in 2015 & their owners (+Photos)

Business magnate Thomas Boone Pickens, Jr., known as T. Boone Pickens became a billionaire by being involved with natural gas and oil. Another venture he had was to be active in business acquisitions which would end up highly in his favor financially. Pickens lost a good chunk of his money by giving a lot of it away, at least half of it. The energy movement to use alternative fuels has also not helped him financially. Allen Stanford This former prominent financier is currently serving a 110-year prison sentence for being convicted of charges that his investment company was a giant Ponzi scheme and major fraud. He cheated people of their hard earned money, and used that money to fund his lavish lifestyle. Patricia Kluge SEE ALSO - 10 Most expensive billionaire homes in 2015 & their owners (+Photos) Patricia Kluge, ex-wife of late billionaire John Kluge, who received huge sums a year ( reported $1 million a year plus assets bringing her net worth to $1 billion) after her divorce and lost it by spending it on enormous parties and making bad investments. Olav Thon Norwegian real estate developer and once Norway’s richest man, Olav Thon, from Norway, who was a real estate icon and built a hotel business. He ended up donating majority of his entire business empire (71.9% stake of Olav Thon Eiendomsselskap ASA) to charity. In 2013, Forbes estimated his net worth at $6 billion. He is now worth around $250 million. Alberto Vilar Alberto Vilar began an investment firm after working toward and economic degree. He invested more in technology funds. He lost his money by donating a lot of it, but he also lost some of it by being a fraud. Sean Quinn SEE ALSO - 10 Most expensive billionaire homes in 2015 & their owners (+Photos) Sean Quinn was a business man in Ireland who made his money by investing and working in the hospital industry. He also invested in hotels, radiators, plastics, and banking. He made some bad investment choices such as Anglo Bank which left him with much less. JK Rowling JK Rowling, who though not penniless make the list. She donated enough money to give away her billionaire status. Rowling was a single mother living hand-to-mouth in Edinburgh when her first Harry Potter book came out in 1997. She earned about £700m from books, merchandises and the Harry Potter films. These 10 people had many ways of losing or giving their money. Being rich is not all there is to life. Life is more than money, and it’s a good thing it is. - Richest Lifestyle CLICK HERE to join our BBM Channel for faster updates TOP POSTS YESTERDAY List of Nigerian women who own private jets (+With Pictures) OMG!! Tonto Dikeh has 5 months left to live – See this! (+Pics) Top 10 Most beautiful women in the world 2015 – These women are smoking hot! (+Photos) 10 Most evil men in history of the world – You will be shocked to see their evil deeds (With Pictures) Meet the 20 richest Nigerian musicians for 2015; as Davido tops Wizkid (+Photos) 15 celebrities who seem nice but are really dicks (+Pics) Photos: Meet 10 African billionaire wives you didn’t know 10 things you can do to make women obsess over you – Guys, see this now! Ini Edo shares bathroom photos.. Top 10 most terrifying islands that will kill you (Photos)