Most Infamous Mistakes Made By Billionaires You Should Know

We watch billionaires from the other side of the fence and find their world an exhilarating show of success and grandeur. But, the grass is always greener on the other side, and it is very much possible for the other side to be as muddy – if not muddier – as ours. The world of billionaires has witnessed many mistakes which, if avoided, could have done things differently for them. The media crowns them as the kings and queens of the business arena, but perhaps, their mistakes humanize them and let us know that mistakes are natural in business.

In today’s article, you will find a list of mistakes made by billionaires. These mistakes are well-known but never get old and fail to attract attention. Let us dive a little deep into the vulnerable side of these super-rich humans who have had their own share of failures.

1. Microsoft’s Rescue Plan
   Apple might not be what it is now – a technology mega power – if it weren’t for Microsoft’s Rescue Plan. Bill Gates crafted a formidable brand in technology but had been facing scrutiny from the government over its dominance in the market. During the same time, around 1997, Apple was struggling and closing in on its end.
   Hailed as a strategic move at the time, Bill Gates’s decision to inject a UD 150 million investment in its rival was seen as an attempt to allay the government’s fears. However, what Bill Gates couldn’t foresee was the surprising comeback of its rival, ultimately becoming the most valued tech company in the world.
2. The Berkshire Hathaway’s Boat
   Warren Buffett is known for his investments in the holding company Berkshire Hathaway. But things were different back in the 1960s when he made a miscalculated and hasty decision to get back at the company’s CEO. Following his disagreements with the then-CEO of the company, Warren Buffet decided to purchase a controlling interest in the company. Of course, he purchased the interest and got things done his way.
   But, in hindsight, he says, that decision was a strategic blunder that yielded subpar results. Berkshire Hathaway was struggling to keep itself floating in the textile business and was minting minimal profits. Buffett says that his ill judgment caused him to invest USD 200 billion in an ailing business when he could have made better use of the money.
3. A Scammed Heiress
   Liliane Bettencourt raised a cosmetics juggernaut through wit, grit, and ambition. But, all of these qualities couldn’t protect her from scams. Creating ripples in the French media was a scam that shook the heart of the Bettencourt family. In 2007, her daughter filed a lawsuit alleging that a photographer who claimed to be a gigolo scammed billions off her mother by exploiting her mentally compromised self and creating rifts within the family.
   After a long legal battle, he was convicted of money laundering and abuse. Liliane may not be here with us anymore, but she will be remembered for all the good and the bad.
4. The Quantum Partners’ Fumble
   We all know what a brilliant investor George Soros has been. But even his brilliance has been dampened by miscalculated steps. Although he took early action and did what needed to be done, his experience is a lesson for aspirational and experienced investors. Some time back, he decided to invest in Quantum Partners Fund, which Bill Gross from Janus Capital managed.
   The fund had been underperforming, but George trusted the reputation Bill enjoyed. Unfortunately, the fund continued posting losses, and Soros’ half a billion dollars were reeling under intense pressure. He pulled back the money in time, and so did other investors over time.

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