Millionaire/Billionaire Celebs Who Had Their Net Worth Suddenly Drop to $0 (or Less) (1990, 90s)
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Watching the Hulu series The Dropout now and I think Elizabeth Holmes may be one of the few billionaires to qualify. Some others that probably qualify are Martin Shkreli and R. Kelly.
Does she really count as a billionaire? Wasnt most of her money built on fraud?
That’s kind of the point of this thread. How meaningless net worth can be when a billionaire can drop to $0 with one revelation.
Martin Shkreli‘s fortune was built on a Ponzi scheme that had the added bonus of screwing over a lot of vulnerable people (worse than Holmes). R. Kelly’s fortune wasn’t built on fraud, but there’s a good reason he’s worthless now and rotting in jail.
Willie Nelson, due to financial mismanagement by his advisors, fell into serious trouble with the IRS in the early 1990's and had to sell off many, if not most, of his assets. He may not have slid all the way to broke, but he momentarily may have been well below a million dollars in net worth at that time.
Donald Trump ran into serious financial difficulties during the early 1990's. There's a story that when he and his wife Marla Trump were taking a sidewalk jaunt outside in New York City during that time, Trump pointed to a street person and remarked to his wife that the homeless person was worth more than he was.
MC Hammer went from $33 million to bankrupt in the late 1990's.
Bernie Madoff was a billionaire before he was busted for financial scandals, receiving a conviction, a fine of around $17 billion, and a 150 year sentence. Madoff died broke and in prison.
Well, she wasn't the one with all the money, but I sure when the story broke about their cash cow, if you will forgive the term, Traci Lords being underage, a whole bunch of money invested in her went to zero ............................ and the screams must have been heard for time zones.
Willie Nelson, due to financial mismanagement by his advisors, fell into serious trouble with the IRS in the early 1990's and had to sell off many, if not most, of his assets. He may not have slid all the way to broke, but he momentarily may have been well below a million dollars in net worth at that time.
Donald Trump ran into serious financial difficulties during the early 1990's. There's a story that when he and his wife Marla Trump were taking a sidewalk jaunt outside in New York City during that time, Trump pointed to a street person and remarked to his wife that the homeless person was worth more than he was.
MC Hammer went from $33 million to bankrupt in the late 1990's.
Bernie Madoff was a billionaire before he was busted for financial scandals, receiving a conviction, a fine of around $17 billion, and a 150 year sentence. Madoff died broke and in prison.
Madoff's wife was allowed to keep a few million and, IMO, that was wrong.
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