Bjorgolfur Gudmundsson

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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.