- A proliferation of IPOs created several new billionaires in 2019 but a turbulent stock market also knocked many entrepreneurs out of the three-comma club.
- Several one-time billionaires (including Juul cofounders Adam Bowen and James Monsees ) saw their net worths drop because of company crises.
- A few noteworthy newly-minted millionaires this year hail from the entertainment industry, including Kylie Jenner and Jay-Z .
- Visit Business Insider's homepage for more stories.
15 people who became billionaires in 2019 — and 14 who lost their status in the three-comma club
Axel Heimken/picture alliance via Getty Images
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Not everyone who becomes a billionaire stays one.
A proliferation of IPOs created several new billionaires in 2019 but a turbulent stock market also knocked many entrepreneurs out of the three comma club.
Last year was not an easy year to be a billionaire, Business Insider previously reported. 2018 was the first time in seven years that high net worth individuals saw their fortunes shrink, according to French technology consulting firm Capgemini . Billionaires across the globe lost 7% of their collective net worth in 2018 due to market instability at the end of the year, Wealth-X also found in its 2019 Billionaire Census. Slowing economic growth across the globe and trade tensions also contributed to the wealth drop, according to Wealth-X .
Keep reading to learn more about the people who became billionaires and those who lost their billionaire status in 2019.
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