Bangalore: Losing is a part of life and should be taken with a pinch of salt. But what if one loses billions of dollars in one go? Even adept investors and money-wise people have lost billions of dollars in their lifetime. Sometimes bad decisions make them lose money and sometimes greed. Investopedia has collated one such list. So, here are the top losers in finance –
1. Julian Robertson: Lost $17 Billion
Julian Robertson was the founder of Tiger Management, a hedge fund, in the year 1980. From the early 1980s to 2000, Robertson earned a lot of money, going from $8 million to $7.2 billion. However, he refrained from investing in technology and related stocks during the period of ‘tech bubble.’ He rather went for investments in stocks he felt had potential. He did not invest in tech-stocks, even though they had great potential. This resulted in Tiger Management bearing huge losses, with all stocks losing closing on $6 billion in 2000. It was announced in August 2010 that Robertson had become a member of an initiative taken by Warren Buffett and Bill Gates. Here, the affluent would take a pledge to donate a part of their assets to charity. He and his wife, Josephine, also donated $27 million to New York Stem Cell Foundation in May 2010.
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