While the fallout from FTX’s implosion is still being uncovered, one thing is clear: Few other billionaires have fallen as far and as fast as Bankman-Fried.
Among those who lost nearly their entire fortunes within the course of just a few days or weeks are investor Adolf Merckle, once one of Germany’s richest people who was wrecked by the 2008 financial crisis, and Kanye West, whose antisemitism proved his undoing.
Over the past 20 years, other fortunes have imploded for a wide variety of reasons including fraud and deceit. Many of these blowups have led to lawsuits and even jail time. That includes Elizabeth Holmes, the founder of now-defunct blood testing firm Theranos, who was sentenced on Fridayfor defrauding investors. Two others are now behind bars while one is on house arrest and another is awaiting trial.
The final page in SBF’s increasingly bizarre story has yet to be written. While the world watches to see what fate faces him and FTX, here’s a look at the biggest billionaire downfalls of recent history—and where these individuals stand today. :Peak net worth:After Kanye West put forth a stream of antisemitic comments, conspiracy theories and other controversial behavior, the rapper and designer now known as Ye was dropped by Yeezy’s key business partner Adidas in October.
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