Behind every billionaire there is a story!

Billionaire no more

OUSTED prime minister Thaksin Shinawatra, a former telecoms tycoon, has fallen from grace and is no longer counted among Thailand’s billionaires since the military froze his assets following last year’s coup, Forbes said today.

Mr Thaksin, once Thailand’s fourth richest business man with a fortune worth $US2.2 billion ($2.54 billion), is now thought to be worth around $US300 million ($346.68 million), the US magazine said.

The self-made tycoon “fell from the billionaire perch after facing frozen assets, multi-million dollar fines and other court decisions against his family,” Forbes said.

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http://www.news.com.au/heraldsun/story/0,21985,22068892-5005961,00.html