10 Billionaires Who Faced A Massive Loss

6. Allen Stanford

It is hard to believe that once an owner of yachts, a fleet of jets and a personal cricket team, Allen Stanford lost his billion dollar bank balance for his role in the $7 billion dollar international Ponzi scheme. With a net worth of $2.2billion, Forbes Magazine once considered him as one of the richest man in America. Stanford was a former chairman of the Stanford Financial Group of Companies and now serving a 110-year prison sentence as his investment company was a massive Ponzi scheme and fraud.  Still more than 20,000 investors are yet to get their return on investment.

7. Ingvar Kamprad

Ingvar Kamprad is a founder for Ikea and is considered as a frugal eccentric. He was considered as the fourth richest man in the world by Forbes Magazine in 2007 with his net worth of $33billion. His net worth reduced in 2010 after he withdrew $17 billion as he came to know that most of the wealth he owned actually belonged to his foundation Ikea.

8. Mayoshi son

Mayoshi son, a businessman in Japan and is currently the chief executive officer of SoftBank and chairman for Sprint Corporation. He was declared as the second richest man by the Forbes Magazine in Japan in 2011 with his net worth of $8.1billion.  He was also called as “Bill Gates of Japan”. He started with Japan’s largest telecommunication and Internet Corporation called SoftBank that was worth $180 billion but faced a major loss during internet crash in 2004. But they bounced back by acquiring the Sprint Corporation.

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