7. Isac Zagury (Loss: $2.52 billion)
Aracruz was once the biggest producer of eucalyptus tree pulp. It reported a loss of more than $2 billion in December 2008 due to currency-derivatives trades that involved Isac Zagury, the company’s CFO (chief financial officer). The company reacted quickly by holding a special shareholders meeting. While it was a good thing that they held those responsible for the mess, they did so because the company was losing money. It is very likely that shareholders knew about the risky investment, but weren’t complaining when money was made.
