5 Rich Families Who Lost It All

Money is a Whore, and so she is loyal to no one but her Pimp, out of fear. And so if you want Money to always be at your beckon call, to work for you at wall street and to bring all she has earned back to you, then you have got to learn to become the best Pimp ever. Which means you must mark your money as your property, you must assign her the territory she is to work, you must also be firm with your money at all times and never be afraid to take a back hand to her if she gets out of line, so that she will know her place is at your side and to serve you, to prosper you and to help you to realize all your dreams. And I must remind you that in the Pimping game, you can't have a conscience as a Pimp. So always keep your money close to you and expect her to bring you dividends daily, then that way you will never end up like these 5 Rich Families Below Who Lost It All. Because at some point in their lives, they all forgot and neglected the basics, they all stopped being great Pimps with their money. So learn from their mistakes and get all the money you can get or else... Your money instructor, James Dazouloute

The Vanderbilts

By the time he died in 1877, Cornelius "Commodore" Vanderbilt reportedly was worth $100 million, according to Forbes. He began his steamship and railroad empire in 1810 with $100 he borrowed from his mother. But six generations later, the enterprises he founded are no longer in the family. CNN anchor Anderson Cooper, a sixth-generation descendant, recently said on Howard Stern's radio show, "My mom's made clear to me that there's no trust fund." What's left is a legacy of philanthropy, including Vanderbilt University.

The Hartfords

Huntington Hartford, heir to the A&P grocery chain fortune, lost his millions through failed enterprises and a playboy lifestyle. As the grandson of the founder of the Great Atlantic & Pacific Tea Co., Hartford received an income of $1.5 million a year, according to The New York Times. In 1940, the Hartfords were ranked among the country's richest families by the Securities and Exchange Commission. Declaring bankruptcy years later, Hartford moved to the Bahamas in 2004 where he lived until his death at age 97 in 2008.

The Kluges

After nine years of marriage, Patricia Kluge divorced husband John Kluge, founder of Metromedia, and received a 200-acre estate and $1 million a year in a divorce settlement, according to Forbes. About 20 years later, in 2011, she was bankrupt as a result of pouring all her money into a vineyard that she'd purchased near her home, taking on too much debt in order to expand, and subsequently suffering through the real estate crash. After her property was foreclosed upon, real estate tycoon Donald Trump bought the vineyard for $6.2 million, according to Fox News.

The Strohs

Company founder Bernhard Stroh arrived in the U.S. from Germany in 1850 with $150 and a family recipe for beer. His sons expanded the empire. By the1980s, the Strohs controlled the country's third-largest brewing company, according to Forbes, which valued the family fortune at around $700 million. Today, five generations later, the company is gone, the victim of an overload of debt, stiff competition and missed opportunities.

The Pulitzers

Grandson of publishing magnate Joseph Pulitzer, Peter Pulitzer had to be bailed out financially by the husband of his ex-wife. According to Forbes, the 800-acre Florida citrus grove owned by Peter and his twin sons was in danger of foreclosure after an outbreak of citrus canker. Tim Boberg, husband of Roxanne Pulitzer, now holds a $220,000 mortgage on the property; he guaranteed another mortgage of $1.3 million and extended a line of credit for $400,000. In his 1982 divorce filings, Peter Pulitzer had an estimated net worth of $25 million.





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