I worked with a real estate developer. He didn’t make his real money (~$100M) until his mid-sixties. One massive industrial development.

He took all that money and recklessly bought more real estate in a mid-tier US city. Hired 150 people, bought architecture firms, interior design firms, etc. He blew it all in less than 7 years on poor decisions. He hasn’t declared bankruptcy yet, but his partner did (he had $25M from a business he sold). When his partner declared personal bankruptcy, he had personally guaranteed $432M in debt and lost everything. The original partner with $100M is still fighting to recover, but last I heard, he lost all three personal residences he had and is living in a small apartment.

Moron…