DECEASED, DECLINED OR LEFT Behind
Who dropped off The Forbes 400 this year?
John Kapoor stepped down as CEO of opioid maker Insys in January (while holding on to his majority stake in the firm), as mounting federal and state investigations into the company’s sales and marketing practices have hit the stock hard. Insys has lost 36% of its value in a year.
In April, Kevin Plank’s Under Armour posted its first quarterly loss since going public 11 years ago. The stock is down nearly 60% in the past year amid increased competition and hard times for retail overall.
Despite ten-year deals with NBC and Fox that began in 2015, James France’s Nascar might be losing speed: TV viewership is down, and in-stadium admission revenues haven’t recovered since the Great Recession. The average value of a Nascar team fell by 7% this year.