(1) The Stroh Family: The End of a Generation
The Stroh Family, known for their multigenerational brewery business, lost everything. In an issue of Forbes Magazine, Frances Stroh talked about her relationship with her father: “My life with my father felt like living inside of a gilded bubble.” The company was once valued at $9 billion. During the 1980s and 1990s, the company took on excessive debt to become the nation’s third largest brewing franchise. Going national without liquid finances caused a perpetual family empire to collapse almost instantaneously. The Stroh Family heirs received their last check in 2008. The last remaining vestige of the Stroh brewing empire is an almost-empty office building in Detroit.