Ten millionaires who lost it all

Rosie Vare
10 Millionaires Who Lost It All
10 Millionaires Who Lost It All

Can you imagine losing $30 billion? These people went from being some of the wealthiest in the world to the poorest.

Some lost their money in the market crash, and others spent too much on yachts and Bengal tigers.

10. Mike Tyson
Over a career spanning 20 years, Mike Tyson accumulated a fortune of over $400 million dollars. The champion lived a life of luxury, spending over $4.5 million on cars and motorcycles alone. Other extravagant purchases included a $2 million bath and two white Bengal tigers. But his spending caught up with him and in 2003 he filed for bankruptcy, claiming he had $27 million worth of debt.

9. Al Goldstein
In the late 1960s Al Goldstein founded 'Screw', a highly explicit pornographic magazine. The venture turned in to a multi million dollar company selling 143,000 copies a week and Goldstein was worth $11 million. However, competition meant that demand began to fall and the company folded in 2003. Goldstein lived out the rest of his days in a homeless shelter in New York.

8. Bjorgolfur Guomundsson
Guomundsson was the majority owner and chairman of Iceland Bank Landsbanki which in March 2008 made him the second most wealthy person in Iceland. But after the market crash, the Icelandic banking system collapsed, and Forbes revalued his worth as $0. Even though Guomundsson held over $700 million in debt, he doesn't have to worry, because luckily for him his son is now Iceland's wealthiest person.

7. Marion Jones
At the 200 Sydney Olympics, Marion Jones took home three gold and two bronze medals making her an American sports icon. She then made millions of dollars in endorsement deals including Nike and Gatorade. However in 2007, after intense investigation, she confessed to using performance enhancing steroids. She was stripped of all her medals and forced to pay hundreds of thousands of dollars in legal fees.

6. Michael Carroll
At just 19, Michael Carroll from Norfolk won the top prize in the lottery, picking up over $13 million. Instead of saving and investing his new found fortune, the teenager spent his money on parties, drugs, prostitutes and he even built a demolition derby race track in the garden of his newly bought mansion. But just four years after winning the jackpot he'd spent it all and he now works on minimum wage.

5. Sean Quinn
In 1973 Sean Quinn founded the QUINN group which starting as a small quarry family business and grew into an empire. By 2008 Quinn was named the wealthiest man in Ireland with an estimated worth of $6 billion. He invested a 25% stake in Anglo Irish Bank which collapsed during the 2008 financial crisis, wiping out Quinn's investment and leaving him in debt.

4. Johnny Unitas
Unitas was one of the highest paid quarterbacks in the NFL in the 1970s, earning $1.3 million in today's money. He invested his fortune into a series of restaurants, real estate and even borrowed millions from the City of Baltimore to buy a circuit board manufacturer. Unfortunately every single business he invested in failed and Unitas declared bankruptcy in 1991, owing $3.2 million.

3. Jordan Belfort
Stock broker Jordan Belfort founded Stratton Oakmont in 1989, a trading floor that used an illegal 'pump and dump' technique to gain massive profit on penny stocks. The company boomed and by the age of 25 he was worth $85 million. He spent his fortune on super cars, yachts and drug-fuelled parties in his mansions. In 1995 the authorities shut down the company for illegal trading and Belfort was sentence to four years in prison for illegal money laundering and fined $110.4 million.

2. Allen Stanford
In 2008 Allen Stanford was named one of the richest men in America with a net worth of $2.2 billion. As the chairman of the Stanford Financial Group he spent over $100 million on planes and helicopters as well as an excessive $12 million to lengthen his yacht by 1.8 metres. A year later authorities discovered his company was operating a massive Ponzi scheme - Stanford lost his entire fortune and is currently serving a 110 year prison sentence.

1. Eike Batista
From the 1980s Eike Batista built a commodity empire which by 2012 made him the seventh richest man in the world with $30 billion to his name. Soon after gaining this title however, oil production slowed and resulted in rising debt payments and falling stock prices. By 2013 Batista was filing for bankruptcy with a net worth of minus $1 billion.

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