A number of People are there who worked hard and became a billionaire. The important thing now is to maintain this position. Sometimes the circumstances don’t support and things come down very quickly. Here are such Business Tycoons who started brilliantly but failed afterwards due to some reasons.
1. Christopher Flowers
Christopher Flowers was a great billionaire business as reported in 2004 with a net worth of $2.3 billion. Now recent recession have crushed his assets to $500 million.
2. Matthew Bucksbaun
With a huge chain of shopping malls in America over 200, once Matthew Bucksbaun was a billionaire. But in 2008 his chain collapsed completely and he have to pay off a giant amount of debt worth $30 billion, eventually filed bankrupt.
3. David Ross
With $1.4 billion assets worth, David was reported as Billionaire in 2008. With his Business excellence he created good opportunities on his way. Investment in real estate was his major field. But the dropdown in properties value overall ruined him. Now he only has $150 million worth assets.
4. Tulsi Tanti
He introduced a nice alternate Energy source with company name, Suzlon Energy. Net worth of Tulsi Tanti has been reported about $3 billion. His company had created a large turbine wind blades but due to some serious fault, his production had to stop. A great finance had to invest to recover that fault. After that failure, his current property worth is about $500 million.
5. Larry Yung
Larry Yung is a great billionaire from China with $3 billion net worth. This tycoon had a great empire which cover great part of the country, But then a sudden downfall in stocks, snatched his glory. Now he owned a net worth of $750 million.
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