NEW YORK (AP) – American International Group Inc. managed to lose $62 billion in just 92 days. That’s nearly $470,000 a minute. And it’s more money than Bill Gates’ net worth.
The insurance giant’s quarterly loss reported Monday was the biggest in corporate history, topping the previous record of about $45 billion set by Time Warner Inc. during the fourth quarter of 2002.
That news came as the government said it would plunge another $30 billion in taxpayer money into the ailing New York-based company, which already has received some $150 billion in U.S. aid since September.
AIG lost more in the fourth quarter of 2008 than it made from 2001 to 2007, when net income totaled more than $58 billion.
Send questions/comments to the editors.
Related Stories
Latest Articles
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.