5 wealthy families who lost their fortunes By Judy Martel
Reversal of fortune
You wouldn’t think it possible that a family worth millions would blow through all of it. It seems pretty hard to do, don’t you think.
But in fact, any number of factors could contribute to a reversal of fortune, whether the decline is swift and sudden or stretched out over six generations. The usual suspects include bad investments, too much debt and overindulgent spending. Meet five well-known rich families who suffered a reversal of fortune.