In 1923, nine of the wealthiest people in the world met at Chicago's Edgewater Beach Hotel. Their combined wealth, it is estimated, exceeded the wealth of the Government of the United States at that time.
These men certainly knew how to make a living and accumulate wealth.
Attending the meeting were the following men:
1. The President of the largest steel company,
2. The President of the largest utility company,
3. The President of the largest gas company,
4. The President of the New York Stock Exchange,
5. The President of the Bank of International Settlements,
6. The greatest wheat speculator,
7. The greatest bear on Wall Street,
8. A member of President Harding's cabinet.
9. The head of the World's greatest monopoly
That's a pretty impressive line-up of people by anyone's yardstick.
Yet, let’s examine what happened to them 25 years later:
1. The President of the then largest steel company
(Bethlehem Steel Corp), Charles M Schwab
lived on borrowed capital for five years before
he died bankrupt.
2. The President of the largest utility company,
Samuel Insull, died penniless!
3. The President of the then largest gas company,
Howard Hubson, went insane.
4. The then President of the New York Stock Exchange,
Richard Whitney, was sent to jail.
5. The President of the Bank of International Settlement,
Leon Fraser, committed suicide.
6. One of the greatest commodity traders (Wheat Speculator) , Arthur Cutten, died insolvent.
7. The greatest “bear” on Wall Street, Jesse Livermore
committed suicide.
8. The member of the US President’s Cabinet (the member of President Harding's cabinet), Albert Fall,
was pardoned from jail just to be able to go home and die in peace.
9. The President of the then world’s greatest monopoly, Ivar Krueger, committed suicide.
Check out the life lessons one can learn from these 9 people in Fun for Gujaratis Narration.