Edra blixseth biography of alberta
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Edra blixseth biography of alberta
Reality Check for the World's Rich
June 16, 2009— -- All good things must come to an end -- even for America's jet-setting super rich .
That was certainly true for the Yellowstone Club and its owner, 55-year-old Edra Blixseth, who filed for Chapter 11 bankruptcy protection earlier this year to hold off more than 100 creditors to whom she owed at least $141 million.
Yellowstone Club, a posh club in Big Sky, Mont., for the super rich with a 13,600-acre private ski resort, was originally the venture of American billionaire Tim Blixseth, Edra's former husband. The Blixseths ran the club as a team from 1997 until they finalized their divorce last year.
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The Blixseths' situation is "an extreme example of what's happening with the wealthy these days," Robert Frank, author of "Richistan" and senior special writer for The Wall Street Journal, told ABC News.
"Not many have gone from billionaire to bankrupt ... but the wealthy are l