They had the money, they had the power, they thought they can invest in the field of politics. What they didn’t know is that politics is a dirty business, in which you don’t always get honey, even if you have the money. In real life, money and politics go hand to hand, but not always. Sometimes even your glistening and huge empire of wealth cannot save your back in elections. We have to admit that all the billionaires are fiendishly smart, but sometimes it takes more than smartness and wealth to be successful in politics.
Though if we look at the history, we will see it is hard to find unsuccessful billionaires in the sector of politics, cause we all know, money runs politics. Also, many billionaires don’t get involved in politics directly. They contribute to powerful political teams and exploit current markets. Most billionaires are lobbyists and if lobbying can get them what they wanted, why bother standing up for elections or political runs.
But few billionaires still had to taste the murky paths of politics. Well, it is hard to satisfy the normal human mind, whereas they are power hungry billionaires, it is impossible to think they won’t try to be interested in the direct place to run the country or at least their own area. Now, from those billionaires who wandered in the labyrinth of politics, most have been successful, but there are few who tried, but still couldn’t conquer it in a way they had conquered their business sectors. When it is time to make the list of billionaires who turned into politicians and failed, it is a herculean task. Because first of all, there aren’t many billionaires in the world, okay, no, there are but from them, not all have entered into the path of politics and most of them have been very successful. But still, we kept looking for the failures in the political career of billionaires and listed them here.
10. Anil Ambani
Ambani brothers sure know how to make and multiply money. Both of the brothers have made enormous amounts of wealth. They are not just on the top of the Indian business world, they are also one of the members of the world’s top billionaires. Anil Ambani is a true billionaire, his current net wealth is worth more than 7.8 billion U.S dollars.
But when it comes to politics, he hasn’t been able to show much charisma of his skills and talents. Though his start in politics was not that poignant, but the end sure was sad, due to many unfavorable circumstances, he had to resign from Rajya Sabha of India.
9. Muammar Gaddafi
Muammar Gaddafi, one of the richest man to ever live, also had the most controversial lifestyle. Though many would consider his political life as not a failure. But to us he is. Yes, he had ruled more than four decades, but when he started his political career, he was not a billionaire.
Though, most of his wealth was a result of tyranny and it was not all legit. But still he was a billionaire and he should have stopped his political career at the time, but, he couldn’t control his greed for power and as a result, he failed to manage the political riots in his country. This is why he is one of the billionaires who turned into politicians and failed.
8. Syed Abul Hossain
Well, not only the western world has billionaires, developing south eastern countries have billionaires too. Abul Hossain is one of them. Before joining politics, he was a successful businessman. He was one of the richest people in Bangladesh. His net worth was more than 1 billion U.S dollars. He was the minister of road and communication in Bangladesh government, but after being accused of several allegations of corruptions in the road construction field, he had to resign from the post.
Although he won the elections and became a minister in the cabinet, his activities made him notorious. He can no longer be considered as a successful politician and this is why, he is one of the billionaires who turned into politicians and failed.
7. Hosni Mubarak
Hosni Mubarak, an Egyptian politician and leader could have had a rather glowing and glorious life if he had stopped his political life when he was at the peak. He was also an autocrat and a tyrant. He earned millions and became a billionaire, he and his family had accumulated a wealth worth more than seventy billion U.S dollars.
The money was good, the lifestyle was great but he wanted more, so he stayed on the top of the power for years and history kept repeating itself. Riots and protests started to begin in Egypt and he failed to manage the political situation. He was abrogated from his position and saw failure, so he is one of the billionaires who turned into politicians and failed.
6. Thaksin Shinawatra
He was the prime minister of Thailand and a billionaire. His estimated earnings were more than 1.7 billion U.S dollars. He joined politics after becoming a billionaire from telecommunication. He thought being a billionaire was a hard job, and if anyone can ace that, they can ace politics too. But, poor him, wish he knew that politics is a tough cookie to crack. Billions of dollars couldn’t assure his political success. After being on the power for a short period, he had to resign. The country’s situation was impossible for him to handle. He became so notorious that he had to leave and flee. This is why he is one of the billionaires who turned into politicians and failed.
5. Saddam Hussein
Saddam Hussein’s life is kind of similar with Hosni Mubarak and Gaddafi’s. He was one of the most brutal dictators of the world. He started his political career as a military leader, he earned billions by his criticized ruling style, he was worth two billion U.S dollars and he shouldn’t have kept pursuing his political aims after he became a billionaire. But he didn’t, and after that, his worst time of political career began. America invaded Iraq and he lost the war and later on, he became executed and for this, he is one of the billionaires who turned into politicians and failed.
4. Mikhail Prokhorov
So far, all you have read is about African or Asian politicians, now it is time to look at Europe. Europe has a good number of billionaires, and a lot of them have tried to turn into politicians and most of them succeeded. But there are few billionaires who turned into politicians and failed. Mikhail Prokhorov is one of them, his net wealth is more than 13.2 billion U.S dollars.
He ran in a Russian Presidential election, the start was good, the country was happy to see a billionaire challenging the current prime minister, Vladimir Putin but the end result wasn’t good enough. He lost the election by a huge margin and failed.
3. Mitt Romney
Mitt Romney’s political career was not bad at the beginning. He was successful as a governor, he studied in America’s best universities and his political knowledge was great. Things were working well until he ran for the position of America’s president.
His campaigns were going well, still, he had been faced with few controversies. Maybe this was why he couldn’t win. Many might not consider him as a failure, but unless someone has won, he is a loser. And Romney did lose the election to Barack Obama.
2. H Ross Perot Sr.
If we talk about billionaires who turned into politicians and failed, America seems like the best place to find them. In almost all years, billionaires end up contesting in the Presidential election and often times, end up losing. Maybe money can run the senates but cannot run the people of America.
Now if it is about participating in the election and losing, Ross Perot is the no. 1 person we all should look at. He contested twice and both of the times, he lost. He started his political career after being a billionaire. His net worth at the current time is, more than 3.5 billion U.S dollars.
1. Donald Trump
Now it is time for the last name on the list, I was thinking about who to put as the no. 1 and after contemplating for a long time, by long, I mean really long, the name of Donald Trump came to my head. He is a billionaire, and his net wealth is more than 3.9 billion U.S dollars.
Money can buy you everything, but I guess not the ticket to participate in the USA Presidential election. In the 2012 USA Presidential election, he appeared as a deserving candidate but after a time, he decided not to participate in that election. He says he would reappear in the 2016 election, but till then, he is one of the billionaires who turned into politicians and failed.