Never underestimate the stupidity of financial decisions. Not everyone gets a chance to be rich, but there are some who miss out the chance to be rich for they thought their investment wouldn’t be a successful one. So let’s check out some of such disasters.
1. Ronald Wayne & Apple Inc
Though Steve Jobs was always in the limelight, not so visible Steve Wozniak and Ronald Wayne were equally instrumental to create the company, Apple. Ronald Wayne wasn’t sure of his investment due to previous bad decisions and guess what, he wasn’t too optimistic with Apple either, which is why Ronald sold his shares in Apple for $800, just 11 days after the company was formed.
Had he not been so hasty, his shares would be worth more than £25 billion at current rates. Not such a wise decision Mr Ronald ha!
2. Mars Climate Orbiter
NASA lost $125 million as its Mars Climate Orbiter couldn’t sustain due to a silly mistake, as a result, it disintegrated upon entrance into the atmosphere. The standard practice by NASA was to calculate force into Newton while the engineer who had built the aircraft calculated the propulsion force in pounds and no one even cared to verify this and just assumed that it was already taken care of.
3. Tsar Alexander II & Alaska
The United States was sold Alaska by the Tsar Alexander II for merely $7.2 million. Tsar Alexander was afraid that US would invade (oh US!) Alaska. Fearing the forceful takeover the Tsar decided to sell it in March 1867. Today, the resources that Alaska has is worth billions, thankfully Tsar Alexander II is not alive to witness his bad financial decision.
4. Unclaimed Lottery Ticket
Ouch! Imagine someone’s husband throwing the lottery ticket, the very same ticket that would have won the couple a fortune worth around £116 million. This happened in 2010 with a British couple. The woman whose lottery ticket won the prize, didn’t own the ticket anymore because it was thrown away in the trash by her husband. Wondering whether they are still married? 😛 well, let us know in the comment section!
5. Star Wars Franchise
Well, who can doubt the success that surrounds the Star Wars franchise, but it wasn’t so in the early days when 20th Century Fox thought otherwise and lessened the directing fees for George Lucas and handed over the director licensing rights too.
Today, if you were to calculate the money those rights would have bought, it would be roughly £13 billion. Go figure!
6. Xerox and it’s Mouse
Ever wondered who created the computer mouse? Well, it was Xerox, but unfortunately, it could never cash in with that tool. In 1970 Xerox had created a computer that could be controlled by a mouse, but they never sold it. So who really enjoyed this technology?
Steve Jobs! Yup, he and other fellows from Apple Inc were invited by Xerox for which Apple Inc paid $1 million worth of Apple’s shares. Sometime later, Steve Job’s company launched the concept which in turn was a huge success.
Well if Xerox would have held the rights, they would be sitting on an incredible pile of £355 billion, but bad luck for them because their share value is somewhere around £9 billion, not bad but, you know….
7. James Howell and Bitcoin
James Howell, a citizen of United Kingdom had accumulated 7,500 bitcoins in his hard drive in 2009. What he couldn’t do was to handle it with care. So one day, this man ends up spilling a drink (stupid!) on the drive and then trashed it. Now in 2013, Mr James realised the worth of that hard drive that had the bitcoins, but it was too late. He made desperate efforts to locate it, but why do you think he is on our loser’s list?
In 2013, his bitcoins were worth £3.8 million.
8. The Titanic – The not so ‘Unsinkable’
Guess you already know what’s going to be listed here, so lets cut the crap and figure the figures.
Titanic Movie – $200,000,000
Titanic Ship – $7,500,000
9. Mc Donalds and Something they are up to
Just like not all eateries are going to make you money, similarly, not every experiment of an established eatery is going to fetch them money. Do you want a proof? Just McAsk!
‘Arch Deluxe Sandwich’, named after Arch sauce, became the Achilles heel for Mc Donalds when it debuted in 1996. The cost of this sandwich was costlier than the costlier than any other product and flopped big time. According to Business Insider, they are bringing it back, so let’s wish them good luck.
$200 million was spent on the advertisement by McDonald’s before they stopped producing it anymore.
10. DaimlerChrysler AG
Daimler AG, German auto giant know for making luxury cars like Mercedes Benz, created DaimlerChrysler AG along with Chrysler, that cost them around £23.2 billion. The investment ended up being fruitless for in 2007, DaimlerChrysler sold off over 80% shares for £4.7 billion to Cerberus Capital Management.
That’s all for now folks. It’s always fun to know about other’s losses until the day it becomes ours, so watch out.
PS: Don’t forget to let us know your views. It’s always good to learn 🙂