12 Bonkers Ways Massive Fortunes Were Lost

Turns out, more than one person has lost billions of dollars in a day.
12 Bonkers Ways Massive Fortunes Were Lost

Welcome to our list of the 12 bonkers ways massive fortunes were lost. From Elizabeth Holmes' Theranos to Ross Perot's E.D.S., this list will take you through some of the most outrageous stories of financial ruin.

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We've compiled a list of the most outrageous financial losses in history, from Eike Batista's $33 billion drop to Elon Musk's record-breaking $182 billion loss. From the silver-tongued Hunt brothers to Ted Turner's gamble, we'll show you how some of the wealthiest people in the world have lost billions of dollars in a single night. We'll also explore the stories of Michael Carroll, a 19-year-old garbage collector who won the lottery and spent it all, and Nicolas Cage, the master of impulse buying.

So, if you're curious about how some of the world's wealthiest people have lost their fortunes, then you've come to the right place. We hope you enjoy this list of 12 bonkers ways massive fortunes were lost.

Garbage collector to millionaire to coal deliverer.

CRACKED IDE Tyres GOING FROM £10 MILLION TO DELIVERING COAL A 19-year-old garbage collector from the UK won about £10 million on the lottery in 2002. But he spent it all on a wild lifestyle and, 10 years later, was completely broke. Не then started working seven days a week delivering coal and firewood.

AU News 

Gambling away his fortune, with a little help from drugs and alcohol.

CRACKED OVER $100 MILLION GAMBLED AWAY One businessman lost more than $100 million in 2007 at a chain of casinos in Las Vegas. It's said that he was given alcohol and drugs to keep him gambling.

CNBC / Love Money 

Rags to riches ... to rags.

CRACKED TUTE MILK $33 BILLION IN 18 MONTHS Eike Batista, a Brazilian oil tycoon, went from an estimated wealth of $34 billion to less than $1 billion in just 18 months. Until Elon came along, that made him a contender for the person who has lost the most money in the history of the world.

CNBC / CNW 

Nicolas Cage: Master of Impulse Buying.

CRACKED $150 MILLION SPENT ON RICH-GUY KNICKKNACKS Nicolas Cage has splurged on a private island, a dinosaur skull, 15 homes, two castles, a huge burial tomb, shrunken рудту heads, a Lamborghini, a pet octopus, and the first Superman comic - all adding up to a whopping $150 million.

CNBC 

"Silver-tongued" Hunt brothers lose billions.

CRACKED OVER $5 BILLION IN 2 MONTHS In 1980, Nelson Bunker Hunt and his brothers Herbert and Lamar tried to control the global silver market. This gamble failed, and it caused the value of their investments to crash from $7 billion in January to $1.7 billion in March.

NY Times 

Ted Turner's gamble: Lost.

CRACKED PRE UB THE NATI L PRESS C В $8 BILLION BECAUSE OF A MERGER Ted Turner saw a huge financial loss of around $8 billion after America Online and Time Warner merged in 2001. Не had massive holdings of the new company's stock, and its price absolutely plummeted.

Source

Vince McMahon: "$350 million down the drain."

CRACKED LOSING BILLIONAIRE STATUS BECAUSE OF A BAD TV DEAL In 2014, Vince McMahon lost about $350 million in one day. This was because the WWE's stock price tanked after a bad TV deal, and it was enough to make him no longer a billionaire.

Forbes / NY Post 

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