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Top 10 Entrepreneurs Who Came From Nothing Then Lost It All

Written by Top 100 Arena on 2012-07-13
We have often heard this one “The brightest flames burn the quickest”! What it signifies in this context is that, people who have it all, also stand to lose it. There are many examples around the world that exemplify this behavior. These are people who came from nothing and made it real big. There was everything that one could desire. Money, cars, personal airplanes, property and the like, then, they lost it all! Their stories come with a lot of learning and sense. After all who is a smart man, but one who learns from others mistakes! Keep reading if you want to know about 10 entrepreneurs in the world who came from nothing and then lost it all:

10 Scott Eyre

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He was a former left handed pitcher for MLB. He was one of Allen Stanford’s victims and invested in one of his fraud schemes. Eyre lost almost all his money. This just goes on to show how you should be aware of where and what you are getting in to. More info

9 Johnny Unitas

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A legendary quarterback, from the time when salaries were not measured in millions. He earned loads of money and then invested them in various businesses, all real estate, manufacturing, restaurants and other things. Then he lost it all. The business he invested in filed for bankruptcy and all his money went under. More info

8 George Foreman

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Nicknamed “Big George” he was a heavyweight champion and gold-medalist at the 1968 Olympics. He grew up with six siblings, in a family of modest means. But his boxing career lost steam in the mid 70’s. The cash inflow stopped and he was overwhelmed with unpaid bills and credits to his account. More info

7 Bjorgolfur Gudmundsson

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He was Iceland’s 2nd businessman worth more than a few million dollars. He started out as a beverage businessman in St.Petersburg. A credit crisis hit his country, Iceland. He and his son and also business partner were major shareholders in a bank called Landsbankin. The bank went under and so did their assets. More info

6 Patricia Kluge

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A pretty young woman marries a billionaire. Then following the divorce she comes into a lot of money. She tries to use this money to strike out into a celebrated business and loses it all. That is the real life story of Patricia Kluge. Her journey began as a nude model. She went on to become an heiress after her marriage to John Kluge and then she invested her alimony in a wine business. Returns were good initially and so she expanded aggressively and then she lost it all. Getting rich soon and losing it even sooner. More info

5 Sean Quinn

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He was worth $6billion a few years ago. He borrowed money from his own insurance company to invest in an Anglo-Irish bank. There was financial crisis, and it caused him millions in debts. His only mistake was not doing his homework thoroughly enough and borrowing from his own company. In 2008 he was the richest man in Ireland, but in 2011, he filed for bankruptcy. More info

4 MC Hammer

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He was born Stanley Kirk Burrell. He is an American actor, entrepreneur and rapper. He is remembered for his hot records (U can’t touch me), his hammer pants that were his trademark and his flamboyant and suggestive dance movements. He was the adopted son of a night club manager and a police department assistant. He had very humble beginnings and only with a lot of dedication he rose up to becoming what he finally became. He managed his own records business from day one, both the creative and marketing parts. Later on hammer filed for bankruptcy. Now he lives as a pastor in California More info on Wikipedia

3 Allen Stanford

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He was a former prominent financier and sponsor of professional sports. At present, he is serving 110 years in prison on charges that his company was a massive Ponzi scheme and fraud, involving $7 billion in certificates of deposits. He had a very modest and humble upbringing. He tasted success after speculating in real estate in business after the Texan oil bubble burst in the 1980’s. Stanford is a fifth generation Texan. More info

2 Kim Dotcom

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A German-Finnish businessman of moderate means who cashed in on the dotcom bubble and then went to jail. He is the founder of Mega Upload. Kim was convicted of insider trading and embezzlement. He was also convicted on charges of copyright infringement. He started his career as a cracker of corporate PBX systems in the United States. He was declined the opportunity to buy a house in New Zealand because his “good character test” did not check out. More info

1 Jordan Belfort

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He is an American author, motivational speaker and a crook. Belfort started out by hiring young people who only wanted to get rich and hadn’t even graduated high school. He started a firm Stratton Oakmont that was literally a cult. Everyone there got rich. This firm functioned as a boiler room and he got richer. Personal yachts, drugs and insanity were the words that people said about him. Then the FBI caught up and he spent 22months in prison. He has fleeced people to the tune of $1bn. More info

All these examples sometimes show destiny and sometimes just plain simple lack of knowledge or basic home work. Play on the safe side. You might seem invincible, but someone might have other plans! These ten people had seen it all, had it all! After suffering such a setback, they are trying put their life back starting from scratch. It could have been you and it could have been me. But when you have lots, there is literally a lot to lose. Steve Jobs once said that perfectly normal people can turn bizarre when they come into sudden wealth.

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