Now that's got to hurt.
Glasenberg’s fortune fell to $1.4bn from $1.9bn at the close of trading Friday, according to the Bloomberg Billionaires Index. He’s lost 74% of his net worth this year and 81% since July 2014, when he was the 190th-richest person in the world with $7.3bn, although the stock recovered 17% at one point Tuesday.
In recent weeks, the South Africa-born billionaire has announced a debt-reduction plan, bought company shares and scrapped a series of dividends in an effort to shore up its balance sheet.
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