World billionaires who lost their riches – What is the worst thing that has ever happened to you? Did someone hurt your feelings? Did you lose a loved one? Did you lose some money? Regardless of what happened, most of the hurt that people go through has to do with some form of a loss.
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Since we spend most of our God given time here on earth trying to make money, it’s very important for us to guard and also enjoy the little that we make to the best of our abilities. However, life is full of ups and downs, and this is arguably what makes it fun and worth living.
There are less than a two thousand billionaires in the world today, and these few people hold wealth that the rest of humanity will never get a chance to earn. The majority of the billionaires in the world still work very hard, despite having wealth that the average middle-class family would not even be able to spend over several lifetimes. There is, therefore, the false perception that when an individual attains the billionaire status, he or she has made it and there is no way that such a person can go broke.
However, stories of billionaires gone broke exist. They are usually sad ones, and we cannot help but feel sorry for these people. However, some make their billions by taking advantage of innocent people, and such con artists deserve to lose their wealth and even spend time behind bars for their crimes. Here is a list of people who have attained the billionaire status at one point of their lives but lost it, for whatever reason. Today some are millionaires, others are sadly broke or bankrupt, and some are paying for their crimes behind bars.
15. Martha Stewart
Martha Stewart is one of the few women on this list and is arguably the most well-known individual here. Well known for her history as a former fashion model who built a media and licensing empire from scratch, Martha is truly a leader in entrepreneurship. Unlike most of the people on this list who serve prison time and immediately lose all their wealth, Martha Stewart became a billionaire while behind bars, thanks to the value of her stocks climbing by 90%. She was serving a five-month jail term for obstructing justice in an insider trading case in 2005. However, Martha lost her billionaire status for the second time in a matter of weeks, owing to her stocks dropping by 40%. Martha is still a wealthy entrepreneur but is nowhere near where she was at the peak of her career.
14. Robert Johnson
Robert or Bob Johnson holds the record of being the first listed black billionaire in the world. Robert Johnson is the founder of BET (Black Entertainment Television), and he made his billions after selling the $3 billion company to Viacom. A few years after making the list, a divorce split his $1.2 billion in half, and he was struck off of it in 2004. Johnson made a one-year comeback in 2007, but the effect of the stock market crash, his divorce, and an ever-changing business environment has kept Mr. Johnson in the millionaire region. Although Mr. Johnson is not what we can refer to as “broke,” the fact is that he has lost much more than he has right now.
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