Famous people who survived and thrived after bankruptcy

Famous people who survived and thrived after bankruptcy

The word “bankruptcy” is thought of as an admission of failure; something that an individual or a business can never rebound from but is that true? I don’t so.

Abraham Lincoln didn’t think so either when his general store that he ran as a young man failed in New Salem, Illnois, in 1832. Honest Abe got behind on his bills and his creditors took him to court. Abe lost his remaining assets: a horse and some surveying gear. Unfortunately for Abe, Congress passed the bankruptcy law in 1841, which probably would have saved poor Abe’s horse.
Fortunately, Abe rebounded and became the 16th President of the United States of America.

Other pioneers that filed bankruptcy include Henry Ford; Milton Hersey; H.J. Heinz; and Walt Disney; and how they fair after bankruptcy.

Let’s start with Henry Ford – The Ford Company reported $ 7.6 billion in earnings in 2017; Milton Hershey – The Hershey Company had sales of $ 7.5 billon last year; H.J. Heinz – Last year Kraft Heinz Company reported earnings of $11 billion revenue; and Walt Disney – The Walt Disney Company reported earnings of $ 12.6 billion in 2018.

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