Meet The Former Billionaires Who Lost Their Billions
#5.Allen Stanford
Allen Stanford is a former prominent financier and sponsor of professional sports. He became the subject of several fraud investigations and multiple violations of U.S. securities laws for alleged "massive ongoing fraud" involving $7 billion in certificates of deposits and his investment company was a massive Ponzi scheme and fraud. Stanford is currently serving a 110-year prison sentence, as a result.
#6. Patricia Kluge
Patricia Kluge appeared for years to be one of the nation’s wealthiest divorcees, with a breathtaking Virginia mansion known as Albemarle, an ample jewel collection and a river of cash from her ex-husband, the late media magnate John Kluge.
Her wealth was lost through parties and a bad investment. Patricia Kluge decided to host parties for the wealthy and elite on her newly acquired 300-acre estate. On this estate, Kluge decided she’d use the acreage for a vineyard where she could make and bottle her own wine and sell it. A high-risk venture that drained all her money and she eventually filed for bankruptcy. The vineyard was then purchased by Donald Trump.
#7.Manoj Bhargava
Manoj Bhargava is an Indian-born entrepreneur, philanthropist, founder, and CEO of 5-hour Energy. He has had a handful of careers, worked at a variety of jobs including construction laborer, construction cleaning contractor, accounting clerk, Princeton undergrad, cab driver, plastics executive. He even spent 12 years living in a Delhi ashram as a monk. 5-Hour Energy had a rough year when a number of heart attack deaths were reportedly linked to the popular energy shot. Bhargava is no longer a billionaire after sales and stocks went down.
READ MORE: 10 Billionaires Who Turned Into Politicians And Failed
