Billionaire Blowups of 2008

Posted on January 1st, 2009 webmaster No comments          Print

Happy New Year!

I was just checking out the Bogleheads Forum and someone posted this link from Yahoo! Finance about some of the richest people in the world who lost billions of dollars in the last few months.

More than 300 of the 1,125 billionaires we tallied on our annual list last March have since lost at least $1 billion; several dozen lost more than $5 billion. The 10 richest from our 2008 rankings dropped some $150 billion of wealth, dragged down by steel tycoon Lakshmi Mittal, estranged brothers Mukesh and Anil Ambani and property baron K.P. Singh, who together dropped $100 billion. America’s 25 biggest billionaire losers of 2008 lost a combined $167 billion.