The 2008 financial crisis in America hit the population very hard. The housing market collapsed, huge financial institutions considered untouchables began to fail. More than 10 years have passed since then, but often people can still feel the consequences of the Great Recession. Too many rich people at the time crashed, but some of them managed to rise from the ashes. We’ll talk about them.
Shang Sandona
Until 2008, Sean had a thriving home renovation business. However, at that time, the housing market began to crumble. Sandona, who was engaged in a major project at the time, hoped to sell the house for almost a million dollars. Unfortunately, he could not find a buyer, and he had to sell it more than 250 thousand cheaper. The amount received was not enough to cover a loan at the bank, and the man became bankrupt.
All this led to a number of irregular jobs and divorce. All that he has left is his own house. However, he burned out a year later. This only spurred Sean, and he began his snow removal business in the northern village. The homeowners association with whom he collaborated found out about his experience in the construction industry. They started asking him to look at house building projects. Now he has significantly expanded his business and is engaged in the maintenance, maintenance and overhaul of multi-unit real estate. The net worth of his business is now more than 4 million.
Sa el
In 2008, Sa El began to work in the insurance industry. He lived in Atlanta and tried his best to sell policies. However, due to the crisis, insurance ceased to interest people, so there was practically no income. The business became so unprofitable that the company could not even afford a cell phone.
Despite all the troubles, Sa El maintained a positive mindset. He did not abandon the insurance business, but after the recession, as the economy recovered, insurance began to generate income again. Over time, he began to sell policies online online, which brought considerable profit. Now he makes a net profit per month in the amount of about 18 thousand dollars.
Larry Chester
Larry became a victim of the financial crisis back in 2006, that is, before the recession. He was the chief financial officer of the importing company in the Chicago area and received quite a large salary. However, their major customer was Sears, which began to exert pressure, demanding lower prices. This led to the man losing his job.
He was already 58 years old at that time, so it was very difficult to find a new job in the difficult situation in the country. He began to take numerous loans, hoping to get a job quickly and pay off his debts. However, he was unemployed for over a year. In 2009, he founded his own consulting firm. At first she had a rocky start, but now she is only developing forward.
Michael Blank
Michael Blank became a millionaire in 2000 when he launched the popular software he created. However, after that, he decided to create sources of passive income and no longer work. He invested money in a network of pizzerias. At the time of the crisis, the company owned 6 points, of which only four brought a small income. These restaurants were able to survive the crisis, but their profitability was so small that Michael made a huge amount of debt.
He was able to cope with the situation through investment in real estate through loans from family members. He bought homes and a blog about real estate investments.At the moment, he began to educate people on these issues, because he has passive income from a business that controls real estate by 27 million.
Rafe Gomez
In 1990, Rafe founded a successful marketing company. But in 2000, she went bankrupt, and he began working as a DJ on the radio. However, the financial crisis prompted the company to change its format. They fired 50 people at the same time, including Gomez.
While he was unemployed for a year, he was able to create his own strategy for creating an interview, which later turned into a popular audiobook. He created media hits for many news channels and re-opened his own marketing campaign, which is now considered one of the best in the country.