15 Times Business Moguls And Megacorps Made God-Awful Financial Decisions
Ahhh, the age-old story of hubris and financial folly. We’ve all heard it before, and it never fails to entertain. From the world’s wealthiest billionaires to the biggest and most powerful companies, it seems that no one is immune to the pitfalls of bad investments and costly mistakes.
This list is no exception. It’s a collection of some of the most spectacularly expensive blunders in recent history, from Elon Musk’s $9 billion Twitter purchase to Warren Buffett’s “most gruesome mistake” to Yahoo’s $4 billion Geocities blunder. In many cases, the losses were so great that it shook the foundations of the companies involved.
So if you’re looking for a cautionary tale, or simply want to read about some of the most spectacularly expensive mistakes ever made by people rich enough to not care, then look no further. This list is sure to leave you shaking your head in disbelief at the sheer magnitude of these financial blunders.
Yahoo's $4 billion mistake: Geocities.
Billion-dollar blunder: Yahoo’s Tumblr investment gone wrong.
Microsoft: 8 Billion Reasons to Cry.
$1.7 billion to buy, $300 million to sell.
John Antioco’s ‘no’: Blockbuster’s $50 million mistake.
Myspace: From $580 Million to $35 Million.
Excite: The Company That Said ‘No’ to Google.
Jim Cramer: Investing Lesson Learned.
Buffett's costly mistakes: $100 Billion and counting.
Amazon-funded failure: Pets.com’s demise.
Warren Buffett’s “most gruesome mistake” – a $8.7 billion blunder.
DaimlerChrysler cashes out: $7.4 billion and goodbye Chrysler.
CEO resigns after financial regulator punishes $105 billion “ghost stock” mistake.
Citibank’s blunder: $900 million gone in an instant.
Twitter Purchase: Elon Musk’s $9 Billion Mistake.
