I did not think it was possible, but former adult film star Patricia Kluge has proven me wrong. 20 years ago, Patrica Kluge was the richest divorcee on the planet. When she divorced her husband in 1990 she walked away with one billion dollars. Now, she has filed for bankruptcy and is struggling to hold down a 9 to 5 job.
How do you ever lose a billion dollars? Apparently she knew how to spend, made lousy investments, married another guy who also was lousy at investments and kept spending and spending on parties and events even when they were borrowing millions and millions to keep doing it. Apparently they thought a winery was the key to solving their problems but that was another $100M down the drain. Donald Trump recently bought it for $6M and allowed Ms. Kluge to remain working there.
Do you realize that even at 2% interest, you would make $20M a year from a billion dollars without even touching any of the principal. Who cannot live on $2M a month? I don't feel sorry for this woman at all, but I am amazed and shocked that it is possible to run through a billion dollars in 20 years. That means she would have had to have spent $50M a year every year without making any money.