10 Tycoons Who Are No Longer Billionaires
Facebook Twitter google+ RSS Feed

10 Tycoons Who Are No Longer Billionaires

By SiliconIndia   |   Friday, 30 August 2013, 13:35 Hrs   |    4 Comments
30
cmt right
32
Comment Right
45
cmt right
10
cmt right
Printer Print Email Email


Bangalore: Most of the time, people who leaves an impact in our mind are personalities who have done admirable work or those who possess a splendid bank balance. The combination of the two attributes makes one unforgettable. There are few personalities who have surely made their mark in the world of business but unfortunately were not able to save their billions reports Kamal Goyal of World Top 10.



Business tycoons who were once billionaires but are now playing only in millions are as follows-



1. Larry Yung Chi-kin



Chairman of CITIC Pacific, a Hong Kong based conglomerate, Larry Yung Chi-kin was one of the wealthiest person in mainland China with personal net worth of $2.2 billion in 2007. But after a loss of $2 billion due to incorrect speculation in FX accumulators that eventually lead to temporary suspension of the company’s shares in HKSE and legal crisis, Larry Yung lost billions and the company’s worth declined to 750 million dollars.



Read More:



3 Indian Firms Join The Billion-Dollar Club
14 Leaders Who Redefine Business in the World



next new
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Philips
Sr. Executive
ISB
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
NIC
Reena Khanna
Founder
Solitaireworld
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset
Reader's comments(4)
1: Billions to speculate and gamble but little to help anyone via donations to deserving causes or people.
This is developed status and high income society and these are called the leaders who are expected to be role models.
Capitalist economy is based on greed and me for me.
Posted by:Gursharan Singh - 31 Aug, 2013
2: What About our Vijay Mallya ? How much is his networth now?
Posted by:Ravine Hotel - 30 Aug, 2013
3:
If he does not help others with his wealth then he may be a very poor person who has nothing to give to help others.
Gursharan Singh Replied to: Ravine Hotel - 31 Aug, 2013
4: One wrong move and it is enough to change the whole picture. To become a billionaire takes time, but getting bankrupted takes an hour..
Posted by:Jahnavi - 30 Aug, 2013
SPOTLIGHT