Inside The Fall Of Onetime Bangle Billionaire Carolyn Rafaelian

It s been a terrible, horrible, really bad couple of years for Rafaelian and her celestial jewelry brand. Alex and Ani s lender cut off its line of credit; sales tumbled and at least two lawsuits have been filed. Rafaelian was forced to give up one third of her stake in the jeweler. She was first asked to step down as Alex and Ani s CEO and then claims she was fired as its designer. Her net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 million. (Don t feel too bad she still owns at least a dozen homes, including spreads in Rhode Island, New York City and Venice Beach, California).

via www.forbes.com

It’s like they’ve never heard of quitting while they’re ahead.