Behind every billionaire there is a story!

Paradise lost for Blixseth

As his Gulfstream IV roared off the Bozeman, Mont., tarmac one Sunday this past December, billionaire Tim Blixseth glanced out the window and looked down at the Yellowstone Club. The homeowners in this 13,600-acre enclave include Bill Gates, News Corp.’s Peter Chernin, and Barry Sternlicht, the founder of Starwood Hotels & Resorts. The club is the world’s only totally private ski and golf resort, and it is Blixseth’s vision of nirvana.

Now the 57-year-old is on the verge of losing his fiefdom, thanks to a one-two financial punch: He is in the midst of finalizing a divorce from his second wife, Edra, that may chop his $1.3 billion fortune in half, and he is in the process of untangling himself from litigation with three-time Tour de France champion Greg LeMond, an original minority investor in the club.

read the rest published by Fortune here:

http://money.cnn.com/2008/02/04/lifestyle/paradise_lost.fortune/index.htm?section=money_latest