Top 6 reasons rich people go broke

Discussion in 'Money Management & Banking' started by Skilled_Migrant, 21st Jun, 2016.

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  1. Sackie

    Sackie Well-Known Member Premium Member

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    I agree. Often before most ppl can become wealthy they need to go through a self transformation stage so as long as the person retains those skills, knowledge and mindset they should be able to build it back up, depending on their age as well.
     
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  2. Ted Varrick

    Ted Varrick Well-Known Member

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    Apparently Kerry Packer said to Graham Richardson once,

    "You don’t understand gambling do you? The only thing that matters is it has to hurt if you lose, and I've got to lose a lot a f***in' money before it hurts.'"

    The Big Man delivers once again, and I thought it was quasi-relevant to the thread...
     
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  3. kierank

    kierank Well-Known Member

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    From memory, he lost $19M in one night in Italy.

    I assume he raided his son's piggy bank to top up his wallet :)
     
  4. kierank

    kierank Well-Known Member

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    I am not rich so I don't have any reason to go broke :).