Tuesday , 21 May 2024

8 Enormous Fortunes and How Their Billions Were Lost

For most people, building a fortune is an elusive task but, once they have a fortune, many peopleWays-to-make-money-1 find that they have a hard time hanging onto it. Below we discuss the 8 biggest fortunes ever lost. The reasons are diverse but, usually, it’s the same forces that built those fortunes in the first place. Economics is a fickle beast. Wealth is a fickle thing. It isn’t as tangible as people like to think…

The comments above and below are excerpts from an article by howtotradecommodities.com which has been edited ([ ]) and abridged (…) to provide a faster and easier read.

Economic downturns are hard on everyone but, for billionaires, they can be catastrophic. When people have that kind of money, it isn’t stored as cash in a safe somewhere. It is in the form of things like real estate and business holdings and exactly how much money any given person is worth depends upon what other people think those holdings are worth – and those valuations can change by the day, hour, or even minute… Of course, it isn’t always bad economies that cost fortunes. Sometimes it’s bad business decisions and, sometimes, it’s because the fortunes were based on fraud…

Check out these 8 enormous fortunes and how they were lost.

Biggest fortunes ever lost

Even the greatest of fortune is destined to be destroyed eventually but the end comes sooner for some than for others. Very often, that end has nothing to do with the individuals involved, but is just the vagaries of the world. Regardless, nothing is permanent in this world.

Disclosure: The above article has been edited ([ ]) and abridged (…) by the editorial team at munKNEE.com (Your Key to Making Money!) to provide a fast and easy read.
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