World's Billionaires: Notable Drop-Offs in 2014
Billionaires no more: 117 people fell off the list this year. At least one of them intended it.
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Last Updated: Mar 25, 2014, 07:44 IST1 min
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Olav Thon2013 WORTH: $6 BLN 2014: $250 MLN LOSS: $5.75 BLNOnce the richest man in Norway, Thon, 90, gave almost all of it away. He donated to his foundation full ownership of his real estate empire, Olav Thon Group, which we valued at $6 billion last year, after cashing out just $250 million to live on. He maintains control of the business as chairman of his foundation’s board, but he no longer gets a cut of the profits. That money will be spent promoting math, science, entrepreneurship and other causes.
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Eike Batista2013: $10.6 BLN 2014: LESS THAN $300 MLN LOSS: $10.3 BLNTwo years ago he was the seventh-richest man in the world, worth $30 billion. Large debt payments cut into his cash reserves, while stock in his publicly traded natural-resources companies plummeted.
Manoj Bhargava2013: $1.5 BLN 2014: $800 MLN LOSS: $700 MLN5-Hour Energy is fading, as customers complain of exaggerated advertising claims and analysts say sales have stalled. The man behind the energy shot is starting to get “that 2:30 feeling”.
T Boone Pickens2013: $1.2 BLN 2014: $900 MLN LOSS: $300 MLNThe Dallas oil legend bet big on wind energy and lost, knocking himself down to nine figures.
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First Published: Mar 25, 2014, 07:44
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