Surely no one wants to go broke. But it can not be denied that everyone is potentially bankrupt, even a billionaire. What caused it?
Losing wealth aka bankruptcy, is something that is highly avoided. But how can a billionaire rich world potentially go bankrupt? Here are some reasons that could cause a billionaire to go bankrupt and fall into poverty. Already there is proof.
One of the main causes and the most why a billionaire can go bankrupt is because of a lifestyle. Many billionaires are lulled by wealth and splurge at will, until the lifestyle eventually entraps them with debts and bankrupts in a short time.
An example is Michael Jackson who was trapped in debt because of a luxurious lifestyle and some legal cases that hit. Even before he died, he was rumored to routinely use illegal drugs to suppress the sense of depression over bankruptcy experienced.
One of Major League's leading baseball players, Scott Eyre had to lose more than $ 4 million due to being caught in a sling investment.
Yes, former White Sox players, Blue Jays, Giants, to Phillies are fooled by the investment scheme of Allen Stanford. So he was hit by financial difficulties, although easily able to rise again.
Another cause that often botched the billionaire bankrupt is embezzlement. With the intention to further enrich themselves, various things violate the law, especially embezzlement is often done. When it's tangled up the case, then the big is the result.
Sean Quinn is a former richest man in Ireland with a wealth of up to US $ 6 billion in 2008. However, in 2011 he began to lose most of his wealth, after which various ways are done to save the remaining wealth owned, one of which by disarming his company is abroad in order not to get the bank seizure.
However, that way more and more makes life more complicated because they have to face lawsuits and fines. So in November 2012 Quinn should be jailed and free in early 2013.
For country music fans would be familiar with the name Willie Nelson. The American singer was legally declared bankrupt after having owed US $ 17 million to the local tax service.
Investigate a calibaration, it turns out Willie cheated by people close. During his career and embracing success, Willie entrusts his money to the wrong person so that his property ownership and bank account must be confiscated to repay the debt.
Not only that, he was also forced to make two new albums where all the profits earned must be directly deposited by the local tax service in order to pay off the debt.
The world's billionaires are also feeling the impact of the world economic crisis. In fact, some of them experience the impact so massively.
For example, former Icelandic billionaire Bjorgolfur Gudmundsson has gone bankrupt due to the economic crisis that hit markets and currencies around the world. Gudmundsson also had to lose property of US $ 1.1 billion in the year 2009 and was officially declared bankruptcy by the Icelandic court.
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