10 Tycoons Who Are No Longer Billionaires

4. Matthew Bucksbaum

An American businessman, Matthew Bucksbaum is the co-founder of General Growth Properties and an active philanthropist. The company became the second largest owner, developer and manager of regional shopping malls by 1972 and Matthew Bucksbaum served as its Chairman and CEO. However, Bucksbaum suffered a severe financial crisis and had a debt of about $30 billion. He declared bankruptcy after his empire crumbled.

5. James Christopher Flowers

James Christopher Flowers is the chairman of J.C. Flowers & Co. founded by Flowers in 2001, this private equity advisory and fund management firm has acquired equity stakes in Hypo Real Estate, and many other financial institutions. After a failed attempt in acquisition of Sallie Mae in 2007, Flowers faced a severe blow in September 2008 financial crisis and lost most of his shares.

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