10 Billionaires Who Faced A Massive Loss

By SiliconIndia   |   Friday, 29 November 2013, 12:57 Hrs
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Bangalore:  Billionaires who remained in the top ranking list for some time and lost their wealth in not time. Some of them couldn’t make it after a massive loss but some bounced back with double energy and wealth. These are the names of billionaires who have tasted both the sweetness of success and bitterness of failure as listed by oddee.com.

1. Sean Quinn

Sean Quinn who was once the richest man in the Ireland also faced a major loss of wealth in his life Quinn lost much of his wealth in a bank called Anglo Irish as he was the highest lender for Ireland’s construction barons. Soon after a few investments made by Quinn, the bank went in to a major loss. Due to this the bank was joined by Ireland which resulted in swiping out Quinn’s $2.8 billion and was declared bankrupt in 2011.

2. Yasumitsu Shigeta

Yasumitsu Shigeta was one of the richest men in the world who was the founder of Hikari Tsushin, a mobile telecom company. During the IT bubble in Japan his worth was around $42 billion and he lost around $40 billion when the bubble burst. His stake also reduced to $600 million. He bounced back by expanding his Hikari Tsushin’s business into new areas like life insurances and office supplies.

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