Page 24 - Forbes - USA (March 2018)

LeaderBoard

drop-offs
NAMe
cOUNTRy | SOURcE OF WEALTH
DOWN AND OFF 2018 net worth
SteveN rOth
OVER THE PAST YEAR, 120 individuals fell from the global billionaire ranks. China U.S. | REAL ESTATE
lost the most—50 ten-figure fortunes—while 26 Americans and all 10 Saudi Arabians $970 million
(see page 24) also dropped out of the three-comma club. The four former billionaires below ANAS SeFriOui
MOROccO | cONSTRUcTION
experienced especially dramatic drops; 20 other notables are at right. To see all 120 people
$950 million
who fell off the list, go to forbes.com/billionaires-dropoffs.
eSther Grether
SWITZERLAND | SWATcH
$900 million
MAGGie MAGerKO
U.S. | 84 LUMBER
$900 million
O. BrutON SMith
U.S. | SPEEDWAy MOTORSPORTS
$880 million
eDWArD StAcK
U.S. | DIcK’S SPORTING GOODS
$880 million
BryAN SheFFielD
U.S. | OIL ExPLORATION
$870 million
DAviD hiNDAWi
U.S. | cyBERSEcURITy
$850 million
AyMAN ASFAri
JOhN SchNAtter U.K. | OIL SERvIcES
U.S. | PAPA JOHN’S PIZZA $840 million
2018 NET WORTH: $750 MILLION (DOWN 25%)
Schnatter blamed slowing growth at his Papa John’s pizza chain partly on the NFL’s “poor leadership” in JONAthAN OriNGer
handling national anthem protests. Football fans eat a lot of pies, and Papa John’s is a major NFL sponsor. U.S. | SHUTTERSTOcK
$820 million
KeN GrOSSMAN
U.S. | SIERRA NEvADA BEER
$800 million
JANNie MOutON
SOUTH AFRIcA | FINANcIAL SERvIcES
$800 million
ShOJi uehArA
JAPAN | PHARMAcEUTIcALS
$800 million
WANG JuNMiN
cHINA | PHARMAcEUTIcALS
$800 million
AlDO BeNSADOuN
cANADA | SHOES
$780 million
DANil KhAchAturOv chriStOFFel WieSe
RUSSIA | INSURANcE, SOUTH AFRIcA | RETAIL WilBur rOSS
BANKING, REAL ESTATE 2018 NET WORTH: $600 MILLION (DOWN 89%) U.S. | PRIvATE EqUITy
2018 NET WORTH: An accounting scandal ravaged Steinhoff International, a home-goods $700 million
$170 MILLION (DOWN 92%) retailer that forms a major part of Wiese’s expansive empire. He resigned as
eDGAr SiA
His insurance company, chairman in December; company shares have lost nearly 87% of their value. PHILIPPINES | REAL ESTATE
Rosgosstrakh, was absorbed by $650 million JAMEL TOPPIN; DARREN TASS/ZUMA PRESS/NEWScOM; INGE PRINS; GERRISH/DARREN GERRISH/GETTy IMAGES
Otkritie Bank in 2017; Russia’s
BOriS MiNtS
central bank then nationalized
troubled Otkritie in December. RUSSIA | REAL ESTATE, PENSION FUNDS
$540 million
NirAv MODi li FucheNG
INDIA | DIAMOND JEWELRy cHINA | AGRIBUSINESS
2018 NET WORTH: LESS THAN $100 MILLION (DOWN 94%) $500 million
State-run Punjab National Bank alleged in January that Modi BruNO SteiNhOFF BY DENIZ ÇAM AND NOAH KIRSCH
and his business partner had colluded with some executives at GERMANy | HOME GOODS RETAIL
the bank’s Mumbai branch to conduct fraudulent transactions, $225 million
resulting in a reported $1.8 billion flowing into Modi’s jewelry
companies. Modi, who left India before the scandal broke,
reportedly denied the allegations.
22 | FORBES maRch 31, 2018