10 Billionaires Who Faced A Massive Loss

3. Bjorgolfur Guomundsson

Once a billionaire and an owner of West Ham United FC, Bjorgolfur Guomundsson filed for bankrupt in July 31st 2009 with debts of almost £500 million. Guomundsson was the second richest businessman in Iceland with a net worth of $1.1 billion and based on his wealth, Forbes Magazine listed him as 1014^th richest man in the world in March 2008. Unfortunately, in the same year December he was declared with his net worth $0. However, Guomundsson became billionaire and changed his fortune when he acquired maximum shares of Landsbanki which is Iceland’s second largest bank.

4. Alberto Vilar

Alberto Vilar an investor form America lost almost half of his wealth when techs bubble bursted in 2001. He was found guilty for using client’s money for his philanthropic commitments. He was given a nine year prison term in U.S. federal potentiary for fraud. Vilar denied the charges of being fraud in 2011 and launched an appeal.

5. Eike Batista

Eike Batista is a business magnet from Brazil and currently the chairman of EBX Group. He made his fortune in mining and oil gas exploration. He was considered as seventh wealthiest man in the world and richest in Brazil due to his net worth of $30.0 billion in 2011. He lost almost $33 million and was declared bankrupt as the company which was under his control went into loss.

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