Being in debt is a disgusting feeling. You do not feel completely free, you feel how the burden of debt is crushing. But trust me, your bank loan or payday loan from a friend is a situation that is completely unworthy of attention, compared to the stories of thousands of other people.
There are people who owe so much money that they would hardly pay their obligations even if they had a few lives left. It is unlikely that any of them are now choosing a new home in the suburbs of Los Angeles or Google Bentley car price in UAE to rent a car for a trip to the sea. Although, the prices for renting luxury cars are not so high and affordable for many, which makes rental services so popular today. But today we are talking about those who, most likely, will not be able to afford it for a long time.
At 24, Sylvain Morteau decided to invest the money she inherited into shares in the construction of the Eurotunnel under the English Channel, connecting continental Europe with the UK.
Not understanding investments, she entrusted this business to her friend, who persuaded her to invest, even more, but with borrowed funds. As it turned out, although the project was grandiose and very useful, its payback in the eyes of investors was greatly overestimated.
Only in 2009, the Eurotunnel operator was able to pay dividends to shareholders for the first time, and before that, it suffered only losses. And in 2010, due to the economic crisis, the tunnel again made both the operator and investors poorer by 58 million euros. Sylvain Morto not only did not increase the inheritance but also owed 2.6 million euros.Also read: Top 10 Business Intelligence Tools of 2021
One day, Michael Grofield, drunk after a wild party, decided instead of going home to pop into Atlantic City and gamble at the casino.
There he, being in an inadequate state, began to lose money. Wanting to win back, he made bet after bet, increasing the number of lost funds to an astronomical amount.
By the end of his voyage, Michael Grofield owed $4.5 million. Exactly “owed” because he was betting with a credit card.
As a result, the man went to serve time in prison due to non-payment of the debt.
Francisco da Silva Moreira, a building contractor from Brazil, 2009 invested all of his company’s savings in a number of units in the Japanese city of Fukushima. To pay off his debts, he also borrowed 10 million euros from the bank.
When a powerful tsunami hit Japan in March 2011, the elements caused an accident at the Fukushima-1 nuclear power plant, as a result of which the city of Fukushima and its environs were declared uninhabitable.
This accident left Francisco da Silva Moreira not only without money and business but also drove him into debt. Now the man owes the bank about 9 million euros.Also read: Top 5 Automation Tools to Streamline Workflows for Busy IT Teams
At the age of 18, Frenchman Frank Van Breningen’s great-aunt died, who, as everyone knew, had an impressive fortune, including several valuable works of art.
He, without wasting a minute, entered into the inheritance, wanting to acquire these treasures in his possession. However, as it turned out later, behind the outward wealth of the great-aunt, there were large debts that Frank’s relative got into to splurge.
Having accepted the inheritance and learned about the debts, Frank Van Breningen tried to pay at least something, but nothing came of it. This is understandable, given that the debt is 12 million euros.
When Miao Chen Wong from Guangzhou was 18 years old, he bet his friends that he would become the richest in the entire company before his 25th birthday. To back up his words with deeds, he staked 1 billion yuan, which today equals about 150 million dollars. And so that the intentions were as serious as possible, the friends secured the contract with a notary.
Miao Chen Wong’s age has long passed over 25 years, and he still could not become the richest of friends. It is understandable, because, being unemployed, it is hardly possible to take place in life.
As a result, Miao Chen Wong now owes $150 million.
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