It wasn’t that long ago that Research In Motion’s Mike Lazaridis and Jim Balsillie—formerly the company’s co-CEOs, you may recall—were both billionaires, each worth close to $2 billion. Alas, times have changed.
At the same time that the men were essentially forced to step down from their dual-CEO role, a deeply plunging RIM stock saw both men lose substantial portions of their net worth. Forbes’ recently updated World’s Billionaires list reveals that Jim and Mike have lost their billionaire status.
“Balsillie’s Research In Motion helped usher in the smart phone era,” Forbes wrote, “but the acceleration of iPhone and Android sales, combined with an embarrassing Blackberry service outage in October, caused the Canadian company’s market value to tumble nearly 80 percent.”
Maybe next year?