Five US Billionaires Who Made It To Forbes 400 Only Once
These five each made it onto The Forbes 400 only once. Here's why they didn't last
By Forbes
Last Updated: Oct 04, 2013, 06:06 IST1 min
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David Blech
1992: $295 MLN
In 1990, he launched D Blech & Co. By 1994 it collapsed. He is now beginning to serve a four-year sentence in federal prison for manipulating stock prices.
Walter Alessandrini
2000: $770 MLN
He joined fibre-optic equipment maker Avanex as CEO 11 months before it went public. Soon it was trading at nearly 200 times revenue.
John Chambers
2000: $1 BLN
He joined Cisco Systems in 1991 has been CEO since 1995. The year he made the 400, 80 percent of all internet traffic passed through Cisco routers.
Michael Novogratz
2007: $1.5 BLN
He was one of a group that took Fortress Investment Group public at $18.50 a share. As the stock hit $35 on its first day, the five of them became billionaires.
Mark Pincus
2011: $2 BLN
In 2011, his company, Zynga, completed the largest IPO in the tech sector since Google it suffered losses after that. He stepped down as CEO in July 2013.
First Published: Oct 04, 2013, 06:06
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