If you've ever blown out an account its nothing compared to Björgólfur Guðmundsson

Discussion in 'Wall St. News' started by peilthetraveler, Dec 31, 2008.

  1. Most of them on that list are still billionaires....but not Björgólfur Guðmundsson. He is wiped out.

    I dont get it personally. If you have got a billion dollars, there is nothing you cant buy. The only reason to keep trying to make money is to go after that title of worlds richest man and why takes risks for a title?

    With a billion dollars you can buy all the homes/cars/gadgets you want, travel anywhere (including space!) So i just dont get it. These guys try to build companies/buildings or whatever to leave their "Legacy" but there are 1000s of other guys doing the same thing. Nobody is going to know who these guys are in 100 years except maybe bill gates. If you didnt revolutionize the world, you are forgotten about eventually and these guys should figure that out.
     
    #11     Jan 2, 2009
  2. kroponer

    kroponer

    But most of their billions is tied up in stock, correct? They don't have liquid access to that money on the ready, so they have to maintain their performance/success so they can slowly take out their money over time. That's how I see it.
     
    #12     Jan 2, 2009