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These 12 People Lost Their Billionaire Status Over The Past Year

Several well-known billionaires have lost their billionaire status. From the Gap to WeWork to Juul to Ford, times are tough all over.

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William and Robert Fisher
Source: Gap
The sons of Doris and Don Fisher, the creators of Gap, are Robert and William Fisher. The Gap’s sales have been declining for a while now. The family also owns Old Navy, Banana Republic, and Athleta and controls 43% of the company.

PARIS, FRANCE – SEPTEMBER 02: Anastasia Soare (Photo by Marc Piasecki/Getty Images)

Anastasia Soare in Paris, France on September 02 (Image by Marc Piasecki/Getty Images)

Anne Gittinger and Bruce Nordstrom
everyone has a net worth of $700 million Source: Nordstrom
Bruce Nordstrom and Anne Gittinger are siblings and the grandchildren of Nordstrom founder John W. Nordstrom. Traditional brick and mortar retailers’ declining revenues have been on a downward trend for years.

The worth of Anastasia Soare is $800 million.
The cosmetics line Anastasia Beverly Hills is the source.
Anastasia Soare rose to fame as a master of the brow. Among others, she has groomed and plucked the brows of Cindy Crawford and the Kardashian sisters. Her cosmetics line’s sales were predicted to decline 20% as a result of corporate internal problems. By including the fact that everyone is staying at home due to the coronavirus and not applying cosmetics every day, the final total will be higher.

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Ji Sook Chang and Do Won
Combined net worth: $800 million
The Forever 21 website
The fast-fashion retailer Forever 21 was founded by husband and wife team of Do Won and Jin Sook Chang. The Changs had a $5.9 billion total net worth at the height of the business, in 2015. The corporation has been having financial difficulties recently, and retail stores have closed. Chain declared bankruptcy. Forever 21 was sold by the Changs to a group of mall owners for $81 million in February.

Reiss, Dani
Canada Goose as a source
Dani Reiss owns Canada Goose, a purveyor of $600-$100 coyote fur and goose down parkas. The parkas became popular after being featured in films like Spectre and National Treasure and being worn by David Beckham and Kate Upton. Slow sales and a large amount of inventory have caused Canada Goose shares to decline.

Simon Neumann
$400 million net worth
Author: WeWork
WeWork was valued at $47 billion before concerns over the company’s leadership called off its 2019 IPO plans. Adam Neuman was the CEO from the company’s founding in 2010 until he was forced out in late 2019 as part of a buyout deal from SoftBank.

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