Losing $1B in 10 Seconds & Building It All Back From Zero — Gerald Ratner

In this remarkably candid episode, former jewellery tycoon Gerald Ratner recounts the infamous 10-second speech that wiped out his £1 billion empire and made him public enemy number one. He details the mechanics behind the business’s collapse; from the £1 billion bank debt triggered by a share price drop to the painful process of losing 2,500 stores and his own name.

But Gerald also reflects on the harsh lessons of ego, the power of a joke, and his resilient journey back into the trade, proving that while failure is public, the drive to start over is personal.

BEST MOMENTS

"I was public enemy number one. I couldn't believe the hostility that that joke caused. But they didn't believe it to be a joke. What they thought was that I have contempt for my customers."

"The annoying thing is that when I was running a successful company, I didn't jump up and down and say, 'Isn't life wonderful?' Looking back on it, I wasn't particularly happier than I am now, which is ridiculous."

"When I got the phone call to say my cancer screening was clear, I felt much happier than any deal that I've ever done. It makes you realise what's important in a way."

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