Former bond trader Leslie Alexander
Image: Eza Shaw / Getty Images
You’re off The Forbes 400 this year if you have less than $2.1 billion to your name. That minimum net worth for inclusion hasn’t changed since last year, but 22 billionaires dropped out of the ranks, 29 percent more than in 2018. An additional five died. Some got burnt in the markets. And others just gave a pile away. Two notables:
Former bond trader Leslie Alexander sold the NBA’s Houston Rockets to fellow billionaire Tilman Fertitta in 2017. He then donated $400 million of the proceeds to his eponymous foundation, which focuses primarily on animal welfare.
Shares of Nick Caporella’s National Beverage, which makes LaCroix seltzer, sank by 65 percent due to increased competition. Erratic pronouncements from Caporella and a dispute over LaCroix’s ingredients didn’t help matters.
(This story appears in the 08 November, 2019 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)