For billionaires, declines in the economy can be a disaster. This is because a large proportion of their money is invested in things such as real estate, investments and business holdings – all of which can dramatically change in value when the economy is down.
In the infographic below, you can read about 8 renowned billionaires who lost their fortunes and how this happened. The list includes Björgólfur Guðmundsson who lost $1.1 billion in 2008 and Allen Stanford who lost his $2.2 billion fortune in 2008.
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