Celebrity Investments Gone Bad: The 5 Biggest Losers

 Our Space Larry King4. Larry King: “The man with the mic,” CNN’s former seducer of stars has never been the epitome of health—which is why Larry planned accordingly and had two life insurance plans valuing $15 million to make sure his new wife and children were taken care of when/if he passed.

Assessing the Damage — Larry was swindled into “flipping” his policies with the understanding that he could buy new and additional ones. Larry’s downfall was that he would receive short term gains and that he would lose the ability to purchase additional life insurance plans. Analysts predicted that if the pace of life insurance policy re-sales over the past several years were to continue, the $30 billion (in 2007) could have grown to more than $150 billion over the next decade. He ended up making a profit of $1.6 million but lost millions in potential money he could have made if he had just stuck with his original plans- “Long live the King!”

Cover Photo Source: Joella Marano via Wikimedia Commons
Photo Source 1: Petty Officer 1st Class Chad J. McNeeley via Wikimedia Commons

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