Losing money is always unpleasant, especially when it comes to large amounts. Imagine a situation that you are a millionaire who, in an instant, has lost all his fortune. How would you feel? There are a lot of similar examples among rich people. We will not consider them all, but we will talk about the most interesting and exciting ones later. From the stories described, you will learn the key mistakes that led to the loss of huge capital, and learn some valuable lessons worth tens, or even hundreds of millions of dollars.
James Altusher
In the early 90s, when the Internet was actively developing in America, James Altusher founded Reset Inc., a web design company, which he sold for $ 10 million. But as a result of several unsuccessful investments, he lost everything to the last dollar. When the bank account was already empty, James even began to seriously think about suicide.
After much deliberation, he came to the conclusion that he needed to radically change his life and reconsider his approach to business. Today, his business is going well. Altusher successfully invests, writes books and maintains his own blog, which is followed by hundreds of thousands of readers.
Martha Stewart
An ordinary housewife became famous all over the world and made a huge fortune by founding her own brand Martha Stewart Living Omnimedia, which offers simple but elegant solutions for interior decoration of residential premises. For several decades in business, she managed to promote the company so much that it cost billions of dollars. But after receiving accusations of trading insider information against her, things went very badly. Firstly, she was fined $ 195,000, secondly, she was sentenced to 5 months in prison, and thirdly, she did not have the right to hold her previous position for five years. During this time, the company's value fell to 300 million. But after the end of the term, she again went into business. Her business is doing well now.
Bill bartman
This is another story where even minor mistakes can result in complete collapse. In the early 1990s, Bill Bartman founded the debt collection company Commercial Financial Services. She was the largest in the country, and the owner himself was one of the richest people in America. However, the success did not last long. Bill was forced to go bankrupt after one of his employees was jailed for accounting fraud.
But failure did not break the entrepreneurial businessman. He founded a new collection company, capitalization brought him $ 10 million for his first year of work. It’s a good start, given that I had to start from scratch.
Larry king
Today, a well-known television personality and host of many popular talk shows has $ 150 million in his bank account. But things with Larry King did not always go well. In 1971, he was arrested for stealing $ 5,000 from his business partner. At that time, he worked as a DJ for WIOD, hosted his own program on WTV and performed at Miami Beach Sun-Reporter. Ultimately, Larry was acquitted, but he was fired from all places. Over a long period of time, he could not get anywhere, and he also accumulated more than 350 thousand dollars of debt, which is why the presenter was forced to declare bankruptcy. Things began to improve only in 1985, when King was offered to work on the American television channel CNN, on which he broadcast Larry King Live and received a fee of $ 200,000 per year.
Dorothy Hamill
The girl received world fame and a multi-million dollar fortune in 1976 after winning the gold medal in figure skating at the Winter Olympic Games. After the triumph, the athlete was regularly invited to various shows and television shows. In addition, she advertised the largest manufacturers of food, cosmetics, automobiles and coffee, receiving impressive fees.
But due to the inability to handle money, Dorothy Hamill lost everything. She did not like to limit herself to anything, so she always allowed herself all the best. But fatal was the purchase of the bankrupt Ice Palace. Today, the former skater owns five million dollars, obtained mainly from filming in the movies.
Walt Disney
Despite the fact that today the name and surname of Walt Disney is a world famous brand worth $ 130 million, nevertheless, this was not always the case. At the very beginning of his career, the young man was a director who founded several companies that subsequently went broke. Disney's biggest problems began in 1920, when he declared bankruptcy, completely broke.
Success came with the founding of Disney Brothers Cartoon Studio, open for money borrowed from parents and brother. This time, success was not long in coming. Drawn cartoons in the market have become popular.
George Foreman
After finishing his sports career, the former professional boxer decided to return to his hometown and become a church minister. However, the financial situation was unstable and George quickly ran out of money, which forced him to put on his gloves again and return to the ring. Despite his age, he managed to win the super heavyweight champion title. Today Foreman is engaged in advertising various products and conducts corporate performances. According to official figures, his fortune is estimated at 300 million dollars.
Maggie Magerco
The girl inherited from her father the company Lumber, whose activities are related to real estate. In 2006, its capitalization was $ 2 billion. However, due to several poor decisions, things quickly began to deteriorate. But the biggest problems began in 2009, when the real estate market collapsed in America due to a bursting mortgage bubble.
As a result, the company was on the verge of ruin. To save her, Maggie put at stake everything she had, including a collection of exquisite jewelry and personal savings. And it was not in vain. The enterprising girl managed to save the legacy of her father. Today, Lumber is valued at $ 1.3 billion.
Life is an unpredictable thing. Today you are a millionaire, and tomorrow - complete bankrupt. Even if this happens, you should not give up and think about the worst. Life is given to us alone, so we need to value it, create all the conditions for a comfortable stay ourselves and just enjoy every day.