These 10 billionaires have all gone broke or declared bankruptcy - read the wild stories of how they lost their fortunes
- Once some of the richest people in the world, these billionaires were all broke or declared bankruptcy at one point in their lives.
- Former billionaires Bernie Madoff, Allen Stanford, and Eike Batista have all served jail time for financial-related crimes, while others lost their fortunes due to other circumstances.
- We rounded up 10 famous billionaires who went broke or declared bankruptcy, plus the wild stories of how they lost it all or how their companies went under.
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Some of the most well-known billionaires have declared bankruptcy at some point in their lives, either personally or on their companies. Other wealthy billionaires have claimed to be completely broke.
Many factors contributed to these wealthy people losing it all - economic downturns, bad investments, and even massive fraud cases that landed them in hot water, to name a few. Some of these billionaires have returned to prominence and are just as rich as they once were. However, others failed to regain much, if any, of the wealth they once had.Read more: An astounding number of bankruptcies are being driven by student loan debt
Here are 10 famous billionaires who have gone broke or declared bankruptcy, plus the wild stories of their fall from the top.