Allen Stanford He defrauded about 18,000 people, many of them retirees, out of their savings. His scheme reportedly took in over $7 billion. After his scheme was uncovered, Stanford's net worth dropped to zero.
Bernie Madoff
This man ran the biggest and longest Ponzi Scheme over 17 continuous years. The Ponzi Scheme was worth 65 billion dollars. He netted many investors to invest in the scheme by attracting them to an investment firm named Penny stock Brokerage.
Fact #2 – The average millionaire goes bankrupt at least 3.5 times. I love this fact.
When David Glasheen lost his fortune in the 1980s stock crash, he packed a small suitcase and moved to a remote island. He's been there ever since. The first thing I learned about the ex-millionaire castaway is that he loves to talk politics.
World's Richest Person Gautam Adani Is Also The World's Most Debt Person and a kind of Willful defaulter. He is the biggest NPA Trapeze artist.
How do rich people use debt to their advantage? Rich people use debt to multiply returns on their capital through low interest loans and expanding their control of assets. With a big enough credit line their capital and assets are just securing loans to be used in investing and business.
With many countries borrowing extensively to finance war expenses, advanced economy indebtedness rose to the highest level recorded in the database: almost 150 percent of GDP in 1946. Debt reached its lowest ratio ever—23 percent of GDP—in 1914, when World War I began.
Tesla CEO Elon Musk has broken a record for the largest amount of money lost by one person, according to Guinness World Records.
Guinness reported the record after Forbes assessed Musk lost $182 billion, although other sources suggest that it could actually be closer to $200 billion. Prior to Musk, the previous record for largest personal fortune wiped out was set by Softbank founder and CEO Masayoshi Son in 2000.
Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.
It might seem ludicrous to hear that anyone from this pool of millionaires responded as lower than a “10 out of 10” on happiness. But the results showed that millionaires were around an 8 out of 10 on their self-reported happiness.
Roughly three out of 100 people in the U.S. are millionaires, but your chances of becoming a millionaire depend very much on your age, your race, and your education.
At 14 years old, Mia Talerico has more than $1 million to her name.
But old age is not a requirement for amassing great wealth. In fact, there are 15 people around the globe who boast a three-comma fortune despite being 30 years old or younger. The youngest of this mostly lucky bunch are Clemente Del Vecchio and Kim Jung-youn, neither of whom have hit their 20s yet.
Bill Gates is the most loved in the highest number of countries (37), although he's most hated in three others.
It was among the five worst financial crises the world had experienced and led to a loss of more than $2 trillion from the global economy. U.S. home mortgage debt relative to GDP increased from an average of 46% during the 1990s to 73% during 2008, reaching $10.5 trillion.
2. What was the Royal Irish Constabulary? The Royal Irish Constabulary (RIC) was formed as a result of the Irish Constabulary (Ireland) Act 1836 and was responsible for keeping the peace in Ireland, though not of Dublin which retained its own police force, the Dublin Metropolitan Police.
General government borrowing was $87.3b. Total public sector borrowing was $96.6b. All Australia general government net debt (L2) reached 33.8% as a percentage of GDP.
Average household debt was $261,492 in 2021-22, while average household gross disposable income grew 3.7 per cent to $139,064.