Björgólfur Guðmundsson

Björgólfur Guðmundsson was an Icelandic businessman and chairman and owner of West Ham United. Björgólfur was Iceland's second businessman to be worth more than a billion dollars — his son, Björgólfur Thor Björgólfsson being the first. He was at one time the majority owner and chairman of the Icelandic bank Landsbanki, the second largest company in Iceland. He was ranked by Forbes magazine in March 2008 as the 1014th-richest person in the world, with a net worth of $1.1 billion. In December of the same year Forbes revalued his net worth to $0, and on 31 July 2009 he was declared bankrupt by the Icelandic courts with debts of almost £500 million.