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Millionaire Teenager Loses It All By Age 21

By Gloria Borger / mercredi 26 septembre 2018 04:00
The Malaysian man is now bankrupt.

A young man, Azmir, who had become a millionaire at age 19 is now bankrupt. According to Asia One, he even owes money to loan sharks now. Ah, the highs and lows of business and tech. What a rollercoaster.

 

He had made his fortune as a middleman in an online cellphone business by "pre-booking" phones for customers. Whatever this was, he was doing it well, managing to sell 800 units in a year and receiving monthly sales bonuses from the founder of the business. All this added up to a comfortable salary of $1.8 million USD. Not too shabby, eh?

 

Then, Azmir's conscience got in the way.

 

His phone orders, which had been fine at 800, had now gone up to around 8,000. That's only a good thing it you can deliver, and he couldn't. The founder of the cellphone company, who was in charge of fulfilling the orders placed by Azmir and other middlemen, had disappeared.

 

When the buyers started asking questions, Azmir gave it all away to refund as many of his customers as he could. He sold three luxury cars and used up all his savings in the process. As for the other middlemen, who knows. Hopefully Azmir was the biggest seller, but he surely wasn't the only one who got burned.

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By  sherbear86  |  20

Guys proofread your articles please.

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