Michael Douglas lost more than half of his fortune in stocks
By ANIFriday, April 2, 2010
SYDNEY - Actor Michael Douglas dumped his “greed is good” catchphrase and pulled out of the stock market after losing almost half his fortune, The Sun reported.
The 65-year-old actor made the slogan famous in the 1987 flick- Wall Street admitted that he tried too hard for the greens.nd then in the 2008 recession he lost almost half of his net worth.
Although the stocks started recovering, Douglas was reluctant to invest his wealth in stocks anymore.
“At the end of last year, I took a whole bunch out,” The Daily Telegraph quoted him.
He also admitted that he loved his running a risk game on the stock market, just like Gordon Gekko (a role that he played in Wall Street).
The movie veteran said: “I played. Years ago, through the tech booms, I definitely did it.
Douglas’ assets are expected to be more than 230m dollars. Michael, who is married to Catherine Zeta Jones, 40, is estimated to be worth more than 230 million dollars.
He owns homes in New York and Bermuda.
He informed Esquire magazine: “He took US 20,000 dollars and in six weeks he was up to 380,000 dollars. He did all right.”(ANI)
