I can relate to this.. although I didn't lost it all but still so devastating that I need to recheck my decision-making and priorities in life.
When you hold that much, it's going to make you think about what's in it for you in the future. And that's a serious decision making that you should do, securing an exact amount that will make your life better in the future or until your retirement. You won't gamble with it and as much as you can, you'll add but if you can no longer add then you have to hold and bear with it. Know your priorities when you have that much wealth.
Now, I am thinking to open a small business hopefully I can recover from the mess.
Good luck, there's always the 2nd chance around and for the person that OP has shared to us, hopefully he gets well in that rehabilitation center.