RIM's Mike Lazaridis and Jim Balsillie Drop off Forbes Billionaire List

Posted by Techvibes NewsDesk

It wasn't that long ago that Research In Motion's Mike Lazaridis and Jim Balsillie—formerly the company's co-CEOs, you may recall—were both billionaires, each worth close to $2 billion. Alas, times have changed.

At the same time that the men were essentially forced to step down from their dual-CEO role, a deeply plunging RIM stock saw both men lose substantial portions of their net worth. Forbes' recently updated World's Billionaires list reveals that Jim and Mike have lost their billionaire status.

"Balsillie's Research In Motion helped usher in the smart phone era," Forbes wrote, "but the acceleration of iPhone and Android sales, combined with an embarrassing Blackberry service outage in October, caused the Canadian company's market value to tumble nearly 80 percent."

Maybe next year?

Photo: CTV

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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