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.