The Dumbest Billionaires Of All Time
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From a Canadian trader who lost $6 Billion in less than a week, to an investor whose $20 Billion empire evaporated in just 2 days,
These are the dumbest billionaires of all time.
Starting with Wang Sicong who lost hundreds of millions of dollars of his dad’s money in just a few years.
But if you think that’s bad, you haven’t heard of the Japanese trader known as Mr Five Percent, who broke the record for the largest unauthorised trading loss in history.
And he only slightly beat out Nick Leeson’s previous record was $1.3 Billion in losses
Leeson’s story is arguably worse anyway because not only did he lose billions of dollars but he single handedly destroyed a 233 year old bank with a single bad trade.
But that’s pennies when we consider traders who have the green light to be a degenerate gambler.
I’m talking about Bill Hwang, who in 2021 lost $20 Billion in just 48 hours on a handful of insanely stupid trades.
Much like Canadian Brian Hunter, who lost billions of dollars making bad trades and blamed the trading software for allowing him to make such big bets.
But a list about the dumbest billionaires wouldn’t be complete without the mention of Elizabeth Holmes, who went from being the female Steve Jobs to facing 11 years in federal prison.
TIMESTAMPS
INTRO 0:00
BILLIONAIRE'S SON FAILED AGAIN & AGAIN 0:15
PAY TO WIN GONE TOO FAR 1:35
MR. FIVE PERCENT 3:01
1 TRADE DESTROYED A BANK 4:28
WALL STREET GAMBLER 5:59
-$20 BILLION IN 48 HOURS 8:41
BLAMED SOFTWARE FOR BEING A DEGENERATE 10:10
BIGGEST FRAUD OF ALL TIME 11:52
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Disclaimer:
The information in this video is general information only and should not be taken as constituting professional advice from Hamish Hodder.
Hamish Hodder is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances.
Hamish Hodder is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this video.
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