From WeWork’s Adam Neumann to Canada Goose chief Dani Reiss, 267 people who were billionaires a year ago did not make it onto Forbes’ new list of the World’s Billionaires due to the coronavirus crash ForbesBillionaires
Dani Reiss is another ex-billionaire whose retail empire was shaken before the pandemic. Shares of outerwear company Canada Goose, where Reiss is CEO, started falling in late February 2019 and are down 72% in the past year. The company missed analysts’ expectations throughout 2019 and took a hit from the months-long turmoil in Hong Kong, a major market for the apparel brand known for its $900-plus parkas.
Over in India, Anil Ambani, who was the world’s sixth-richest person in 2008, worth $42 billion, has fallen from the ranks. He and his brother Mukesh inherited their late father’s fortune in 2002. Three years later, the brothers split up the assets. Former WeWork chief executive Adam Neumann had a rather public downfall. The flashy office rental firm’s plans to go public last fall went awry when its August filings with the SEC raised concerns about its finances. Investors were also concerned about Neumann’s partying and other behavior.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Billionaire Drop-Offs: Hundreds Fall Off The 2020 List Amid Pandemic-Induced Market PlungeFrom WeWork’s Adam Neumann to Canada Goose chief Dani Reiss, 267 people who were billionaires a year ago did not make onto Forbes’ new list of the World’s Billionaires.
Read more »
Swiss prosecutors to drop one of cases against ex-FIFA chief BlatterSwitzerland's federal prosecutor is about to end its investigation into former FIFA President Sepp Blatter's deals with the Caribbean Football Union (CFU) to sell World Cup broadcasting rights.
Read more »
New York 'cautiously optimistic' with first daily drop in ICU COVID-19 patientsNew York Governor Andrew Cuomo said on Friday that the number of coronavirus patients in intensive care units across the state dropped in the last day, offering a glimmer of hope that the surge in critical care hospitalizations might be leveling off.
Read more »
It's Official: Netflix Will Drop a New 'Tiger King' Episode This WeekendIn a perfect world, Joe Exotic would perform his auto-tuned country songs.
Read more »
Sky Rompiendo, Feid, Jowell and Randy Drop Zany New Video for 'Le Creo'Latin Grammy-winning producer and reggaeton veterans play wedding crashers in new visual
Read more »
It's official: Netflix will drop a new 'Tiger King' episode this weekendIt's official: Netflix's 'Tiger King' will have a bonus episode hosted by Joel McHale and airing April 12. Here's all we know.
Read more »