Björgúlfur Gudmundsson,was declared banckrupt today by an Icelandic court.
Björgúlfur,father of Björgúlfur Thor Björgúlfsson, has been a big name in the Banking industry in Iceland.
He was in the Samson group,that bought 45 percent in Landsbankinn .
He was also a big financier in the buying of the english football club ,West Ham.
Björgúlfur was on the Forbes list of the riches people on earth,and he was valued at 1.2 billion US dollars.
His son,Björgúlfur Thor,was also on Forbes list over the wealthiest men on earth.
Here is a link to Forbes magazine article about him
Photos: Top Björgúlfur Thor
below Börgúlfur Gudmundsson