10 Tycoons Who Are No Longer Billionaires

By siliconindia | Friday, 30 August 2013, 13:40 Hrs

8. Sanford I. Weill

Sanford I. Weill was the CEO and chairman of Citigroup from 1998 till 2003 and continued to be the chairman till 2006. He tried to become the CEO of Bank America Corp but failed to do so. In 1986, he invested $7 million in a company called Commercial Credit and took over the company as CEO. In 2002, Citigroup underwent a crisis and Weill was replaced by Charles Prince as CEO in 2003.

9. Frank Fertitta and Lorenzo Fertitta

Frank Fertitta and Lorenzo Fertitta are the joint owners of Station Casinos. The two brothers, who were once billionaires thought to file for bankruptcy by April 15, 2009. The company’s idea to file for bankruptcy was a result of an individual bondholder challenging the company's debt swap and prepackaged bankruptcy proposal. Now to retain ownership, the Fertitta family will have to pay additional investments.

10. Kostyantyn Zhevago

Kostyantyn Zhevago is a Ukrainian entrepreneur and is currently a member of the Ukrainian parliament. His company was worth $3 billion but due to a drastic fall in the value of its shares he sold most of his shares at really affordable price. His current worth is about $300 million.