Aside from health, money is without a doubt the most important thing in life, because without it we would not be able to pay for housing, education, healthcare, or transportation; and we would also not be able to buy food, clothing, or medicine. For most people, their goal is to make as much money as possible in order to support themselves and their families; and in the case of businesses and corporations, they are solely focused on the bottom line: profit. With that being said, whether it is an individual, a business, corporation, or the government, no one likes to lose money, especially if it happens because of a mistake.
To be fair, no one is perfect, and everyone makes mistakes of various degrees on a daily basis, it is just a part of being human. In most cases, when a mistake is made in school, or in someone’s personal life, it can be fixed with minimal collateral damage, but when it comes to work and dealing with money, there is supposed to be virtually no room for error, because almost every mistake that causes a financial loss in any way is usually permanent and unfixable. It is true that there have been instances where big mistakes have led to millions of dollars being lost, but there are also cases in which simple mistakes, primarily punctuation and grammatical errors, that have come with a million dollar price tag. Here is a list of 15 simple mistakes that cost millions of dollars.
15 Department of Education’s Bookkeeping Error
14 The Chilean Currency Mistake
13 Rogers vs Bell
12 The Wrong Lottery Ticket
11 Pepsi’s Chinese Blunder
9 Coors Translation Blunder
8 The Yellow Pages One Letter Mix-up
7 Another Comma Mistake
6 Scratch Ticket Debacle
5 Lockheed Martin’s Comma Mistake
4 NASA’s Hyphen Mishap
3 A Company Destroyed By An “S”
2 Juan Pablo Davila
1 Mizuho Securities
Mizuho Securities Co., Ltd is a Japanese investment banking and securities firm which is a part of Japan’s second largest bank, and they take the top spot for losing millions because of a very simple mistake. In 2005, the firm added the recruitment company J-Com Co., Ltd to their economic portfolio, and when one of their traders went to sell some of the new acquisition's shares on the Tokyo Stock Exchange, he made a simple yet monumental mistake. The trader was supposed to sell one share for 610,000 Yen, but instead, thanks to a typo, he sold 610,000 shares for just a single Yen. Now, you do not have to be good at math to know that that was a huge and terrible blunder, which it was, because as a result of that typo, Mizuho Securities ended up losing approximately 340 million dollars in just one day.
Leave A Comment
Looking for an AD FREE EXPERIENCE on TheRichest?Get Your Free Access Now!