Part 10/12:
Durant’s greed and aggressive trading tactics ultimately led to his downfall. As the 1929 stock market crash loomed, he liquidated many holdings to secure profits but was caught off guard when the crash materialized in October. The economic upheaval devastated many investors, including Durant.
He experienced severe financial distress, filing for personal bankruptcy in 1936. His once-glittering estate, Raymere, became a casualty of the Great Depression. In 1938, it was sold at auction for just over $111,000—mere a fraction of its original value—along with its furnishings, marking the end of an era.