Top 10 Billionaires Who Are Now Broke (2022)

Many people wonder whether there are any Billionaires who are now broke. The truth is so many billionaires are not just broke but wretched and may never rise again.

On the list of the top 10 billionaires who are now broke are some men and women who were once adored as the richest men or women. However, these billionaires came down to zero over a single mistake, debt, fraud, and so many other challenges.

A lot of people are confused about who the billionaires that are now broke are but this content is here to tell you who they are. There are more than 100 billionaires who are now broke but these articles will focus on just the top 10.

Below is a table that includes the name of these billionaires who are now broke and the cause of their bankruptcy.

1. Mike Tyson

Mike Tyson is the first on the list of the top 10 billionaires who are now broke. He was a famous American former professional boxer nicknamed “Iron Mike”.

Tyson is considered one of the greatest heavyweight boxers of all time and he competed from 1985-2005.

However, Mike Tyson became broke of the vast debt he owed to both his creditor and his ex-wife. Therefore, out of debt, Mike Tyson who earns up to $20 million per fight went bankrupt and that made him appear on this list.

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2. Elizabeth Holmes

The second on the list of the top 10 billionaires who are now broke is Elizabeth Holmes, an Entrepreneur.

Elizabeth Anne Holmes is an American former biotechnology entrepreneur named among the youngest self-made woman billionaire by Forbes in 2014

However, she went bankrupt through Fraud through her company Theranos and was convicted of criminal fraud.

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3. Aubrey McClendon

Among the top 10 billionaires who are now broke is Aubrey McClendon an American businessman. He is the founder and CEO of American Energy Partners, LP. Also, he co-founded Chesapeake Energy and currently serving as its CEO and chairman

However, he died in 2016, a day after he was accused of Fraud and he went bankrupt after his death due to several debts.

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4. Jocelyn Wildenstein

82-year-old Jocelyn Wildenstein known for her cosmetic surgery, high-profile divorce, and extravagant lifestyle are among the billionaires who are now broke.

Jocelyn Wildenstein is an American socialite who went bankrupt through debt and went for a subsequent bankruptcy filing.

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5. Vijay Mallya

Vijay Mallya is an Indian businessman, former politician, and fugitive who went bankrupt in early 2012 out of debts from the bank for his airline.

However, before he went bankrupt, he was a well-known Indian business tycoon who was famous for his airline and liquor.

His airline is a non-defunct Indian airline known which failed after he borrowed money from the bank to fund it and thereby making him broke.

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6. Eike Batista

Among the top 10 billionaires who are now broke is a Brazillian-German serial entrepreneur Eike Fuhrken Batista.

He made and lost a fortune in mining and oil and gas business. Moreover, he engaged in a quest to promote Brazil’s infrastructure with large-scale projects which eventually bankrupted his companies.

7. Sean Quinn

Sean Quinn is an Ireland businessman who went bankrupt through debt. However, he was once one of the richest men in Ireland according to Forbes.

In 2008, he owed a huge debt to the bank and hotels and in 2012, the Ireland government declared Quinn bankrupt.

Before he went bankrupt, he was a good businessman and conglomerator whose personal net worth is estimated to be €4.722 billion or £3.73 billion according to Wikipedia.

8. Bernie Madoff

Bernie Madoff sentenced to 150 years imprisonment over his fraudulent act is among the billionaires who are now broke.

He ran a Ponzi scheme worth more than 60 billion for 7 years with many investors that he defrauded.

Madoff was granted bail on $10 million and placed on 24 hours house arrest at his Penthouse on Manhattan’s Upper East Side.

9. Bjorgolfur Guomundsson

Bjorgolfur Guomundsson is among the richest men in Iceland who went bankrupt. He was the former chairman and owner of West Ham United.

Moreover, he misused a lot of money and become a disaster for Iceland’s economy after becoming the chairman of Bank Landsbanki.

He went bankrupt and owed more than $400 million which devastated his faith.

10. Allen Stanford

Rounding off the list of the top 10 billionaires who are now broke is Allen Stanford who went bankrupt through fraud.

However, Allen Stanford is an American financial fraudster, former financier, and sponsor of professional sports.

Currently, he is serving a 110-year federal prison sentence, having been convicted in 2012 of fraud, on charges that his investment company was the vehicle for a massive Ponzi scheme.

Brief Summary of the top 10 Billionaires Who Are Now Broke (2022):

• Mike Tyson
• Elizabeth Holmes
• Aubrey McClendon
• Jocelyn Wildenstein
• Vijay Mallya
• Eike Batista
• Sean Quinn
• Bernie Madoff
• Bjorgolfur Guomundsson
• Allen Stanford