Every day, we watch people who really shouldn’t be holding power making decision for large companies, which affect millions of their staff and customers.
These rich CEOs who headed major companies made horrifically stupid decision which cost them their jobs and reputation — although not their wealth. Here are a few of the worst CEOs who got rich despite their incompetence.
1. Jonathan Schwartz of Sun Microsystems
Jonathan Schwartz’s first mistake came when he decided to acquire MySQL AB to bolster his company, Sun Microsystems. This plan simply didn’t work. Then he tried to improve his company’s Java software, but the problem was it was free, and Schwartz never figured out how his company could monetize it. Sun Microsystems tanked, and had to lay off 18% of its staff.