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How to spend a billion dollars (and have a bankruptcy to show for it).

There is no epic facepalm graphic that can adequately convey how I feel after reading this.

http://ca.finance.yahoo.com/news/A-c...?&mod=pf-sp14d

good read for potential lotto max winner tonight

^ no worries, it'll end up being someone on the east coast like always.

Quote:

Patricia Kluge of Virginia divorced her husband, American media billionaire John Kluge. Her divorce settlement was rumoured to be more than $1 billion. At the time, the interest on this would have generated around $1.6 million per week.

Ms. Kluge became known in the media as the "world's wealthiest divorcée." She was later eclipsed in this category by Anna Murdoch, who received a $1.7 billion settlement in 1999, and Slavica Ecclestone, whose divorce settlement in 2009 is said to be more than one billion and less than four. But that's another story.

fucking women....

and she's not broke... you dont go broke from a $70mn endeavor when you have $1bn she just defaulted because it made more sense than to repay the loan because as the story says the property value dropped a shitload
which ties into a part of why there was the housing crisis, people who could afford their mortgage decided to walk away because the loan was X amount more than the resulting value

Quote:

Originally Posted by Greenstoner (Post 7339129)

good read for potential lotto max winner tonight

If I win the lotto max, I'm sure as hell not buying a winery.

"just because you have it, doesn't mean you can handle it"
so true

Hey, whathisnuts...... the doubledouchebag with the fugly hairpiece, went bankrupt once. Since we're taking about bankrupt.

Donald, take a dump, Trump. He clawed his way back. As much as I hate him, he's got what it takes.

One thing bugs me. The guy has so much fucking money, yet he can't get a decent looking hairpiece. What's with that?

^ That's what she said.

Quote:

Originally Posted by StylinRed (Post 7339140)

Actually she is more than broke - she is in serious debt. She spent many many millions on art pieces, antique french furniture etc, that she used to decorate her WV estate known as Abermarle (sp?). Christie's auctioned it off piece by piece and the prices fetched far below their value.

She had put her estate on sale a year or 2 ago for over $100M USD, and in the end it sold for less than $24M. She sunk so much cash into her vineyard yet the casks of wine made headlines in the wine community as people were willing to pay pennies on the dollar.

The bulk of the cash was spent on the vineyard, which actually produced quality wine but nobody was willing to spend the asked prices for the nameless West Virginia wine. When you spend $1 and people pay under $0.10, amplified by thousands of casks, this is what happens....

http://news.yahoo.com/s/dailybeast/2...ceesdownfall_1

Quote:

Originally Posted by Greenstoner (Post 7339129)

good read for probable lotto max winner tonight

gotta think positive!

Her ex-husband must be loving this right now

AHAHHAHHAHA, what a klutz

Quote:

Originally Posted by 89blkcivic (Post 7339249)

I believe he did change his hairpiece and then ended up going bankrupt.
Could be a rumor but that is what I heard

Amazing..another East winner.. :(

Quote:

Originally Posted by achiam (Post 7339488)

if you read the article you'd know that she has a shit tonne of properties overseas

this is just like how Michael Jackson was broke even though his assets = $bn$

Anyhow what interested me most from the article is that this lady did porn in her yester-years

so i went out and searched and found a tonne

she wasn't hot butt damn!

id link em in here but then this would be moved to NWS

if anyone is interested google "Patricia Maureen Rose, Knave magazine"
that should lead you to them (vintage erotica forum)

this is why she should've stayed in the kitchen

Quote:

Originally Posted by HonestTea (Post 7339664)

Amazing..another East winner.. :(

bullshit