Personally I’m finding it difficult to believe a billionaire can go broke due to the worse state of an economy. When I mean broke. To the extend of selling off properties and barely afford a living.
Which billionaire are you talking about? Being a billionaire in which currency? If it's in dollars or another valuable currency, I would say it would be hard for someone who is already wealthy to get broke to the extent of selling their property just to feed themselves. I don't even think that can happen, because billionaires are typically business people who are so intelligent that, in any adverse economic situation they find themselves in, they will look for alternative solutions so that the economy doesn’t affect them in the long term. In fact, most of the billionaires I have seen are not solely dependent on only one business or one way of making money.They usually have multiple sources of income, which makes it difficult for them to go broke to the extent you might imagine.
Asking from this question because I know of a billionaire who right now is going about asking people for help because he has gone broke.
People said he went broke due to the way the economy turned out this he tells people who are close to him. On hearing this I felt there was something else behind this man’s success when maybe didn’t end well for him. Because how can the bad state of an economy cause you to go broke. It’s difficult to believe.
If it is true that the billionaire man went broke to that extent that he can't feed himself and family till selling of it properties? I don't think he made the money through business or investments. It’s possible that he acquired the money in one go, but I doubt he built his wealth through steady business ventures or something sustainable. He may have made billions through betting or other illegal means, which wouldn’t be favored by the current economic situation. For a truly wealthy businessman or woman, it would be hard to go broke to the point of struggling to feed oneself or perhaps he is a billionaire in a currency that doesn’t hold much value.