Bill Ackman questioned Warren Buffett about Salomon Brothers’ high leverage in 1994. Buffett praised Salomon’s leadership despite the risks. Salomon’s history includes a 1987 scandal involving fraudulent bids, and Buffett’s intervention led to the firm’s eventual sale and integration into Citigroup.
Once a symbol of wealth with a net worth of Rs 18,000 crore, BR Shetty’s empire crumbled after allegations of financial manipulation led to a sharp decline in his company’s value and subsequent sale at a fraction of its worth. This dramatic fall from grace marks a stark reminder of the fragility of fortune in the world of business.
