Sunday, September 23, 2012

The 10 Americans Who Lost The Most Money This Year

Forbes released its annual list of the 400 richest Americans today, and while there are familiar faces at the top, some billionaires had better years than others.
We combed the list to see which billionaires on this year's list had the biggest gains and losses since September 2011.
Biggest Losers:

  1. Mark Zuckerberg ( -$8.1 billion ) The Facebook founder and CEO saw his initial IPO fail, causing a massive loss in his fortune.
  2. John Paulson ( -$4.5 billion ) Double-digit losses at his firm has caused his hedge fund to lose a whopping $14 billion in assets.
  3. George Soros ( -$3 billion ) The hedge fund magnate saw a slight dip in production, but his charitable donations account for a majority of the drop-off.
  4. Harold Simmons ( -$2.2 billion ) His Valhi holdings company dropped 30 percent in value over the last year, costing him dearly.
  5. Anne Cox Chambers ( -$1.3 billion ) The media empress saw her net worth decline in part because of a decline in her public competitors.
  6. Mark Pincus ( -$1.24 billion ) The CEO of Zynga fell completely out of the Forbes 400 because of the decline of his company's games and the Facebook IPO flop.
  7. Philip Falcone ( -$1.1 billion ) The CEO of Harbinger Capital dropped out of the Forbes 400 in part due to an SEC investigation into his company.
  8. Robert Stiller ( -$1.05 billion ) The innovator behind Green Mountain Coffee was forced to liquidate many of his shares in the company, reducing his net worth to roughly $250 million.
  9. Sheldon Adelson ( -$1 billion ) Shares in his Las Vegas Sands casino decreased, causing the billion dollar loss.
  10. Sam Zell ( -$900 million ) A lowered estimate of the value of Zell's Equity International stake caused the decrease in estimated net worth.

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