The American millionaire became one of the most extreme cases of waste and mismanagement of wealth.
USA It is one of the greatest powers in the world and is the birthplace of some of the most influential millionaires of today. As it is also recognized as the land of the “American dream” of achieving a fortune based on one’s own efforts. But There are many who lose their money due to mismanagement.
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In case of Jocelyn Wildenstein It became one of the most extreme cases of loss of fortunes. The New Yorker nicknamed Catwoman because of her feline features went from having 2.3 billion euros and several pieces of art to declaring bankruptcy and living off the 800 euros in social security. She further stated that she does not generate any monthly income and that she is also helped by her friends and family.
How Jocelyn Wildenstein Made Her Fortune
The American She is the ex-wife of one of the world’s largest art dealers, Alec Wildenstein.The painting magnate grew up in the family business that his great-grandfather had founded in 1875. When he took over the business, it had an inventory valued at $10 billion.
Jocelyn and Alec’s marriage produced two children but the couple divorced in 1999, a few years before her ex-husband took control of the family business. The New Yorker said that, After their separation, she was entitled to more than the 2.3 billion euros she received. She also acquired two paintings, one by Diego Velázquez and another by Paul Cézanne.
How Jocelyn Wildenstein lost her entire fortune
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The American billionaire squandered her fortune in about 20 years. One of her paintings was sold for much less than the price it was listed for, while the other turned out to be a fake. Still, He spent around 900 thousand euros a month on luxury items and almost 5 thousand on telephone bills.. He generated no income in his later years and is currently seeking a lawyer to seek what he truly believes he was owed in his divorce.
