Becoming a millionaire or billionaire is remarkably difficult â€” after all, if it wasnâ€™t, weâ€™d all be doing it right now â€” but, unfortunately, losing millions or billions of dollars is remarkably easy.
People will often say you have to spend money to make money. Well, these 16 people apparently misinterpreted that as meaning throw away all of your money. Whether they lost it as a result of bad business decisions, lack of foresight, or even criminal prosecution, these 16 current and former politicians are the biggest (financial) losers in history:
Who Is He? Former Governor of Texas, Former GOP Presidential Candidate
Rick Perry began his political career in the Texas legislature in 1984 and eventually made it to Lieutenant Governor of Texas under George W Bush in 1998. In 2000, Bush left office to become the President of the United States, passing the governor seat down to Perry.
Perry attempted to follow in Bushâ€™s footsteps in 2012 but didnâ€™t quite make it, losing the GOP nomination to Mitt Romney. After multiple scandals including the blatantly racist name of his family hunting camp, his open criticism of gay people in the military, and just generally fumbling with debates and speeches, he dropped out of the race in January 2012.
This time around, he didnâ€™t even make it that far. He dropped out of the race this summer after news came out the campaign had stopped paying salaries because Perry had literally gone broke. To make matters more ridiculous, Perry went broke despite the fact that Opportunity and Freedom, a dedicated pro-Perry super PAC, is still sitting on $13 million in cash. His promise to create more jobs apparently couldnâ€™t even extend past the primary election.