Forbes: Kluge lost $3 billion in last six months

If the Forbes list of the richest people in the world reveals anything, it's that the last few months have been a tough time to be a billionaire. This has been especially true for former Charlottesville resident and media mogul John Kluge. In September, when Forbes published their annual "Richest Americans" list, the finance magazine estimated his net worth to be $9 billion. Six months later, Forbes reports that net worth to have dropped by 33 percent down to $6 billion–- a $3 billion hit. The news comes nine months after Kluge's Bennigan's and Steak & Ale restaurant chains filed for Chapter 7 bankruptcy. Kluge became the world's richest man in the 1980s when he sold a group of television stations to Rupert Murdoch to found the FOX Network.

3 comments

THE HORROR!!!!

Big John will be alright..

what's the matter with these people?
don't they know that outdoor seating is one of the key attractions of the downtown mall? without that you might as well go somewhere else
it's bad enough that they're creating a huge mess to fix a small problem - so spikey heels get caught inbetween the bricks - watch where you walk, people do it in Europe all the time
is this now just a make-work infrastructure project to create jobs and spend money? what about all the businesses who will lose money during this "over-construction" project?