7. Sean Quinn
John Ignatius Quinn, who is commonly known as Sean Quinn, was the richest man in Ireland in 2008, with an estimated personal wealth of approximately $6 billion. This wealthy businessman made a wrong business move when he borrowed against an investment of over a quarter of his family’s wealth in Anglo Irish Bank at the worst possible time. The result of his actions was that he owed Anglo Irish Bank billions of dollars, a debt that cost his family their business and eventually their wealth. If he would have paid close attention to Ireland’s economic climate he would have retained his billions, but he lost everything and sank to bankruptcy in November of 2011. SEE ALSO: 11 Footballers that went broke (+Photos)
6. Anton Schlecker
Anton Schlecker is (or was) a big name in Germany, because this businessman is the founder and owner of the former billion dollar Schlecker drug store chain. Anton was once a butcher’s apprentice before building his drug store chain that had a turnover of approximately $10.3 billion, making him one of the richest people in not only Germany but in the whole world. This billionaire set up over 13,000 drug stores all over Europe by 2003 and employed over 52,000 workers, but his empire slowly started to crumble due to competition from other companies and a changing business climate. In January of 2012, Anton Schlecker lost everything when he filed for bankruptcy and all his drug stores were eventually sold off to receivers.
Discussion about this post