Most Expensive and Unforgettable Mistakes in History

Do you know a company turned down the chance to buy Netflix for $50m? Today, Netflix is worth around $20b, while that company doesn’t even exist anymore!

Expensive Mistakes in History
Image: Flickr

Usually, when you buy something and you do not like it, you are not worried as not much amount is wasted. But there are some mistakes in history, that after spending millions and millions you realize the damage will add up to even more. Here are some of the expensive mistakes in history.

King Tut’s Beard

King Tut’s beard got broken by staff while working. Later on, attempts were made to reattach and it took nine months to finally fix it back. In 2015, when the staff was working on fixing it, they thought of studying the beard as it was already detached and they never got to study it before. They found out that the beard was glued in 1946 when it first broke in 1922. You cannot tell by looking at it that it was ever broken.

Stock Exchange Typo – Expensive Mistake

We all make typo mistakes and someone might point them before we rectify them but that’s not what happened in Stock Exchange Typo. A Japan Stock Exchange Typo became one of the disasters of history. In 2005, Mizuho Securities Co lost about $225 million just because of a typo. The company had one share for 610,000 yen but typo listed 610,000 shares of the company at 1 yen apiece.

expensive mistakes in history
Image: Flickr

Yahoo! Sells to Alibaba

In 2003, Yahoo! Owned 37% of the Chinese company Alibaba. In 2013, they sold most of their stocks to Alibaba for $13 per share. It turned out to be a shocking disaster as they made $7.6 Billion out of it. In 2014, Alibaba owners announced its stock has risen to $68 per share and now there are worth $150 per share. However, Yahoo! is only able to generate $4.8 Billion in 2017.

 

One of the Kind Guitar Destroyed

When you watch a movie, some of the scenes are well rehearsal, and some are fabricated. Kurt Russell, in his films, smashed the one-of-its-kind Martin against a pillar and damaging it beyond repair. The Guitar was an antique piece that was a loan from the Martin Guitar Museum.

Expensive Guitar
Image: Flickr

Botched Bridge

When Botched Bridge was unveiled in 2000, thousands of pedestrians walked on it the very first day. The extreme pressure of pedestrians caused shaking and swaying in the bridge. It was closed just after two days. After that, it took almost two years to modify it, and it reopened with modifications and improvement.

Piper Alpha

Piper Alpha was one of the disasters of history. The Platform started producing oil and gas in 1986.  In July 1988, a series of explosives occurred in Piper Alpha in the North Sea occurred. A scene of the most lethal offshore disaster, which took the lives of 167 people. Few of the people managed to escape and save their lives. The financial losses were estimated to be about $3.4 billion.

Bitcoin Blitz

A lot of people bought bit currency when it was worth very little, and now they are driving luxury. There are also stories of people who bought bitcoins and then lost them. One of them is James Howells, an IT worker in Wales. In 2009, he lost his 7500 bitcoins. He accidentally threw away the hard drive. But later, each coin’s worth reached $17000 at its peak.

expensive mistakes in history
Image: Flickr

France’s Fat Trains

When you buy a new vehicle or update it to a much better one, you see the place you have in your garage to accommodate the car. SNCF didn’t release that and after spending about 15 billion, the trains are too big to accommodate in the train stations. The Company was released very late, and it needed more than 55 million to upgrade the train stations for the trains to fit.

Car Melting Walkie Talkie Building

Imagine building a structure that could fry an egg and set off shop doormats on fire. You won’t understand whether to be proud or avoid it. Car Melting Walkie Talkie Building was the costly mistake that engineers have ever made. This skyscraper used to reflect light, which melted almost everything in the nearby streets. Nearby building owners have to remove their doormats for catching fire. Engineers then had to take action to stop building from putting everything on fire.

Walkie Talkie
Image: Flickr

Blockbuster’s Lost Opportunity

Nothing beats the excitement of rushing into the blockbuster’s stores for new releases and DVD’s. Blockbuster could still be the thriving chain it once was, but they made a crucial mistake. They turned down the chance to buy Netflix. In the early 2000s, the CEO of Netflix had been trying to get the CEO of the blockbuster to agree on a deal to get Netflix in $50 million. It was a huge and one of the expensive mistakes in history one could make. Though the CEO of Netflix did not have the foresight to see where the digital world is going, Netflix is worth $19.7 billion today. And Blockbuster no longer exists.

blockbuster store
Image: Flickr

YouTube: Expensive Mistakes in History

Related: Highest-Paid Doctors and Physicians In the World

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