Blackberry CEOs no longer billionaires

RIM and Blackberry CEOs, Jim Balsillie and Mike Lazaridis, are not the billionaires they used to be, The Globe and Mail reports. An investigation by Forbes magazine reveals that due to Research in Motion’s rapid decline in the stock market, Balsillie and Lazaridis, once worth almost $2 billion, respectively, are now in the $800 million bracket. According to Forbes journalist Louisa Kroll, the CEOs would have remained billionaires were they not so generous with their fortunes. Lazaridis has put millions into schools, including the University of Waterloo, and Balsillie founded one: the Balsillie School of International Affairs. RIM shares continue to decline.

The Globe and Mail