4 BUSINESS PERSONALITIES WHO WENT FROM RICHES TO RAGS

25 December 2018

1. BJÖRGÓLFUR GUðMUNDSSON:

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Björgólfur Guðmundsson was the former owner of English Premier League Football club West Ham United. He was also the majority stake owner of Landsbanki, an Iceland based Bank. In 2008, he was featured in the Forbes list as one of the world’s richest persons in the world with a net asset of $1.1 billion. But within an year he was declared bankrupt by a court in Iceland caught with mounting debts.

2. EIKE BATISTA:

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Elke Batista was a Brazilian entrepreneur. As the Chairman of the EBX Group, he had engaged in a wide variety of businesses including mining, oil and infrastructure. In 2012, he had a net worth of $35 billion and by 2014 his fortunes were plummeted into an all time low characterised by negative asset figures. He is presently serving a 30 year prison term for bribery charges.

3. ELIZABETH HOLMES:

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Elizabeth Holmes is the founder of Theranos. In 2015, Forbes magazine called her the wealthiest women entrepreneur of the U.S. But the following year they had change her tag from the wealthiest to the “World’s Most Disappointing Leader”. This was due to an unravelling of severe fraud in her company in regard to claims of technological advances made by the company and its share overvaluation.

4. MAZZI DUMATO:

image courtesy: Daily Mail/ Mazzi Dumato

Mazzi Dumato was a Syrian millionaire. He made immense fortune from his web based businesses in Brazil and Dubai. But a car accident and subsequent jail term had created ripples in his mind. He decided to change his playboy lifestyle and donated his wealth to charities and to fund the medical expenses of his Brazilian wife’s cancer treatment.

WATCH MAZZI’S STORY