A record 1,826 billionaires made the Forbes World's Billionaires list. But more than 100 fell off the list—with the largest number from Russia.
According to Forbes, 138 people lost their billionaire status in 2014. There were losers in the oil sector, with the decline in oil prices. There were losers from the slowdown in emerging markets, whether it was China, Brazil or the Middle East.
Forbes said the person with the biggest drop-off in wealth was William Erbey, the mortgage-service magnate who saw his fortune fall from $2.5 billion to $556 million in 2014. Years of regulatory investigations took its toll on the stock price of Ocwen Financial, the company he founded, and forced Erbey out of his role as chairman.
In terms of countries, by far the biggest single billionaire loser was Russia.
According to Forbes, 28 Russians lost their billionaire status in 2014, the most of any country. The decline in oil prices, the crashing Russian economy and Western sanctions have all combined to create a massive oligarch-destruction machine.