6 Wealthy Families Who Lost Their Fortunes

4. The Hartfords

$500 million (1969) to $0 (2015, bankruptcy)

George Huntington Hartford II (1911-2008), heir of the A&P supermarket, inherited the fortune from his famous grandfather with the same name. His grandfather was the head of The Great Atlantic and Pacific Tea Company who revolutionized retailing. His company earned a profit by advertising and promotion. For those who couldn’t reach the company’s products, they provided tea clubs, which were very popular at that time.

Unfortunately, George Huntington Hartford II had bad investments. Half a billion dollars was his estimated fortune in 1969 by the Chicago Tribune. The grocery store chain, established by his grandfather, filed for Chapter 11 bankruptcy protection for the second time this year (first time in 2010).