These two years (2008 and 2009) will be the year to remember when Billionaires were struck down by the Recession as well as the Scam of the Century – The Bernard Madoff Billion Dollar Scam.

In this recession, 1,125 billionaires were reduced to 793. In all, a total of 330 richest man on earth lost their Billionaire title in this recession. Warren Buffet lost the World No. 1 ranking status to Bill Gates.

We are not sure if Bernard Madoff is among the 1,125 billionaires who lost their title, but even if he was, he has lost everything including his freedom for life – behind bars. He has scammed other billionaires and celerities including Steven Spielsberg (Movie Director), Mortimer Zuckerman(Real Estate Mogul), Kevin Bacon (Actor), Liliane Bettencourt (LO’real).