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

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. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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