Douglas bears losses, pulls out of stock market
By IANSFriday, April 2, 2010
LONDON - Hollywood actor Michael Douglas has pulled out of the stock market after losing almost half his fortune.
The 65-year-old said that he chased the big bucks for years. Then it all came tumbling down, reported thesun.co.uk. Douglas, who is married to actress Catherine Zeta Jones, is estimated to be worth more than $213 million. He owns homes in New York and Bermuda.
“I lost 35 to 40 percent of my net worth on the 2008 crash,” said the actor.
Despite prices starting to recover, he was shocked into ending his profiteering and pulled most of his cash from stocks.
“At the end of last year, I took a whole bunch out,” he said.
But he admitted he had loved his earlier years of gambling on the markets.
YOUR VIEW POINT
