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.
I agree with you. Hardly ever a billionaire is going to complete bankruptcy, because he has just too money to burn by there. It can take a long time to build an empire, but an empire also doesn't go to complete ruin at once. There are many opportunities of recovery along the way. So, if the person adopts the correct mindset and changes his personal attitudes towards life, he can revert his past mistakes successfuly before losing too much patrimony.