All articles tagged with #wealth loss
Originally Published 24 days ago — by Yahoo Finance
Former NBA player Sebastian Telfair, who earned around $19 million during his career, has returned to live in the projects of Coney Island after facing legal troubles, divorce, and financial difficulties that depleted his wealth, highlighting the fragility of sudden wealth and the impact of personal and legal issues on financial stability.
Originally Published 6 months ago — by BuzzFeed
The article shares various stories of ex-millionaires who lost their wealth due to factors like bad investments, legal issues, scams, personal decisions, and economic downturns, highlighting that wealth can be fragile and easily lost without careful management.
Originally Published 2 years ago — by CNN
Jack Ma, co-founder of Alibaba and Ant Group, has seen his wealth plummet by over half in the past three years, with a $4.1 billion decrease in the past year alone. This decline is primarily due to the massive fall in Ant Group's valuation, which has dropped 75% to $78.5 billion. Ma's criticism of Chinese regulators in a speech just before Ant's planned IPO in 2020 triggered a crackdown on private enterprise in China, leading to increased regulatory scrutiny of tech companies. Ma has since stepped back from his companies and focused on philanthropy.