Let’s be honest with ourselves, we all had made mistakes in our lives. To be more accurate not only a few mistakes but a bundle of mistakes. Some mistakes are such a minute that we don’t even realize them, just because they don’t bother much, others might put us in awkward situations and may cost us.
We all know that to err is human but what if these errors and mistakes lead to one of the costliest ones that mark history?
Here’s a list of the 10 most expensive mistakes made in history.
10. King Tut’s Beard
Working in a supermart, or any delicate glass shop, the staff members always had this fear in their mind that they won’t commit any blunder which may cost them a big way.
So imagine the scenario in the museum, back in 2015, while working on the display changing the light bulb, one of the staff members accidentally broke the beard of King Tutankhamun’s golden mask at Cairo’s Egyptian Museum. FREAKED OUT!!! Well, that wasn’t all. There was another blunder followed by this mistake. In nervousness, they glued it back on with epoxy resin which leads to more damage.
It took almost 9 weeks to reattach and restore to get it back to its original condition. However, it costs around $110000 to overcome this mistake.
9. Millennium Bridge
A very dramatic story is attached to the millennium bridge in London. It is a steel suspension bridge for pedestrians crossing the river. It was opened in 2000 and was closed on the same day and after 2 days it was closed for 2 years. Well, the bridge unexpected sways motion when pedestrians crossed it in large numbers. The condition when the people synced their steps, therefore, it was named as Wobbly Bridge. The bridge initially cost $18.2 million, increased by another $5 million in reconstruction.
8. Car Melting Walkie- Talkie Building
Ever heard of a building that can melt a car? Don’t know whether to be horrified or proud but it turns out to be the costliest mistakes ever made by engineers and builders in history in building up a $220 million skyscraper in London. This glass mirrored building had a distinct curved shape that would reflect sunlight to a particular part of the French church street at a certain time of the day.
At that specific time, you could not only look up at the 37 story building but also cannot park your car nearby. Mr. Lindsay was the one whose car was melted due to extreme heat reflected from the building.
It’s a hard pill to swallow but later additional $12 million were spent on covering the building with bright sunshade.
7. France’s Fat Trains
When you buy a new vehicle, that’s a little larger than the one you currently have, you always think of how it’s going to fit in your garage. But here’s a blunder French company made back in 2014.
French train company SNCF ordered two thousand new trains for its cross country railways for $20 billion. But later it was realized the trains are too wide to fit in the majority of the stations because the officials failed to measure all the stations and that they will need an additional $55 billion to upgrade them. Only some of the trains fit into the rails.
Throwing the trains away wasn’t the only way out, and upgrading the trains was costing way more. Hence the company decided to widen some station’s platform is $68 million.
6. Lost Bitcoin
There are many heartbreaking stories of people losing digital currency bitcoins. UK IT worker James Howells is one of them. He mined 7500 Bitcoins back in 2009 on his laptop. Once he had stopped mining, he sold all the parts of his computer on eBay but kept the hard drive with the coins on them. In 2013, he mistakenly threw away the hard drive which is now buried under tons of rubbish at a landfill site in Newport South Wales. By the time the owner realized it was too late and it was worth $127 million.
5. Stock Market Error 2005
Typos are common these days and it won’t cost you anything until you are a stockbroker. A single typo can cost you millions and billions of dollars. Exactly same happened in 2005, a worker at Japan’s one of the largest brokerage firms Tokyo stock exchange wanted to sell only one share for ¥610,000. The blunder he omitted was he sells 610000 shares at ¥1 which is less than a penny apiece.
Even though the number of shares was over 40 times the outstanding amount, the Tokyo stock exchange processed the order anyway. At the end of the day, due to this error, the company lost up to ¥27 billion or $250 million.
4. NASA Mars Orbiter
We assume anything goes wrong with NASA; it must be some technical fault. But in September 1999, NASA’s 638kg robotic space probe the mars climate orbiter burned up and broke into pieces as it was near to its destination after 10 months of traveling wasn’t a mechanical fault but a human error. The teams who are given the task to navigate the orbiter used two different measurement systems while calculating the patterns. One team used the metric system while the other used imperial costing NASA 327.6 million.
3. Yahoo sells to Alibaba
We can’t predict the future, and in the case of investing or spending money, it’s a high risk. While selling your classic car or your property you might get a reasonable amount or maybe more than expected but what if after few years you came to know that its value has increased up to 10 times that. Regrets???
Yahoo was in a similar situation when they were sold to Alibaba. In 2005, yahoo owned 30% of Chinese multinational companies called Alibaba. In 2013, they sold half of their stake to Alibaba for $13 per share. At that time it looked like an amazing deal as they were making 7.6 billion dollars out of it. However, by 2014, Alibaba’s stock rises to $68per share, and the date, they are worth $150. This dramatic rise costs yahoo around $54 billion.
2. The Sale of Alaska
Some of you might not know that Alaska once belonged to Russia. An ice-covered land and fast becoming a critical situation played an important role in the sale of Alaska to the US. The deal was signed for $2.7 million that seemed to be an amazing one back then but the current scenario is changed. US today had earned 100 times more due to the vast natural resources of the area which is around $50.7B
1. Apple Shares
We all know about Steve Jobs and Steve Wozniak.
The Apple Owner?
But there is one we don’t know about. The third founder Ronald Wayne who once owned 10% of the company and sell his shares to Jobs and Wozniak for $800. He was known to be the first founder of Apple as well as drew its first logo. If he had only a bit idea of Apple’s future he would have been a billionaire by now.
$800 then would be $80 billion now
With this we conclude our list of top 10 most expensive mistakes in the world. Hope you liked this article. Tell us the costliest mistakes you know on the comment section. Let’s meet up in the next most expensive article. As always guys sharing is caring 🙂