00:00Today on Forbes, biggest career crashes of 2024.
00:06A plummeting stock price, criminal charges,
00:09or simply strategic blunders
00:10can cause an otherwise exemplary career to tumble.
00:14Our annual list of career crashes
00:16illustrates how even the mightiest can fall.
00:19Here are some highlights
00:20from our career crash list of 2024.
00:24When Boeing CEO Dave Calhoun
00:26testified in front of lawmakers in June
00:29over safety problems
00:30with the airplane maker's fixture 737 MAX,
00:33he started off by apologizing
00:35to the families of those killed in Boeing airplane crashes
00:38before detailing the safety failures
00:40in its manufacturing process
00:41and admitting company whistleblowers
00:43were retaliated against.
00:46The 68-year-old CEO had by then
00:48already announced he'd be stepping down
00:50by the end of the year,
00:51but by July, a new CEO, Kelly Ortberg,
00:54was already in charge.
00:56Calhoun, who started his career at Boeing
00:59as a director and rose to be non-executive chairman,
01:01was brought in as CEO in 2020
01:03to turn things around at Boeing
01:05following two deadly crashes that killed 346 people.
01:09But the company has continued to struggle
01:11with safety and manufacturing issues.
01:13In January 2024, a Boeing 737 MAX 9 plane door
01:18blew open mid-flight,
01:20sparking Senate hearings, grounded flights,
01:22and a Federal Aviation Administration audit
01:25that found that Boeing failed to comply
01:27with quality control requirements.
01:29A company whistleblower was found dead in March.
01:32By July, the company pled guilty
01:34to one charge of defrauding the American government
01:36over safety issues in the 737 MAX,
01:39though the deal was rejected by a Texas federal judge.
01:42Boeing's woes have continued.
01:44Last weekend, one of its 737-800 passenger jets,
01:48operated by South Korea's Jeju Air,
01:50crashed as it was attempting to land.
01:54Hip-hop mogul Sean Combs, aka P. Diddy's, career,
01:58crashed following a slew of sexual abuse
02:00and sex trafficking claims.
02:02Combs was first arrested in September
02:04after he was federally charged with sex trafficking,
02:07racketeering conspiracy,
02:08and transportation to engage in prostitution
02:11in New York City.
02:12He pleaded not guilty
02:13and appealed the decision multiple times.
02:16But Combs spent this Christmas in a federal jail in Brooklyn,
02:19where he will remain until his May trial date.
02:22Just last year, the three-time Grammy winner
02:25won MTV's Global Icon Award.
02:27At his peak, Combs' professional portfolio
02:30included the record label, Bad Boy Records,
02:32and several lifestyle businesses,
02:34including Fashion and Fragrance Lines,
02:36a Ciroc-Vodka partnership, and a TV network.
02:40Forbes estimated him to be worth $740 million in 2019.
02:44As of June, after paying for legal fees
02:46and the reputation hit to his brands,
02:49Forbes estimates his worth at $400 million.
02:53Florida Representative Matt Gaetz
02:55was poised to be the top law enforcement officer
02:57in the country when President-elect Donald Trump
03:00nominated him for U.S. Attorney General,
03:02and he resigned from Congress.
03:04It was a big step up for Gaetz,
03:05who was 42 years old, if short-lived.
03:08His nomination was overshadowed
03:10by an ongoing House ethics investigation
03:12over claims he had sex with a minor and illegal drug use.
03:16A week later, he withdrew from the nomination.
03:19The scandal didn't stop there.
03:21The Ethics Committee released its report
03:23on Gaetz on December 23rd.
03:25In it, they found he paid underage girls for sex
03:27and bought illegal drugs.
03:29Gaetz has repeatedly denied any wrongdoing.
03:33Nickelodeon producer Dan Schneider
03:35came under heavy criticism after a March docuseries
03:38by Investigation Discovery,
03:40Quiet On Set, The Dark Side of Kids TV,
03:43revealed a number of allegations
03:44over a toxic workplace culture.
03:47The show interviewed former child stars and crew members
03:50who alleged the producer behind hit shows
03:52like Zoey 101 and iCarly ran a toxic workplace
03:56and was inappropriate with young actors.
03:58Schneider apologized for his behavior,
04:00but has since sued Warner Brothers
04:02and the producers of the film for defamation,
04:04stating that the documentary's analysis of the workplace
04:07was a quote, hit job, and had falsely stated or implied
04:10that he quote, sexually abused the children
04:12who worked on his television shows.
04:14Schneider's latest piece of work,
04:16a movie based on the Nickelodeon TV series
04:18he created, Henry Danger,
04:20is set to come out on January 17th.
04:24For full coverage and to see the whole list,
04:26check out Maria Garcia Santillana Linares' piece
04:29on Forbes.com.
04:31This is Kieran Meadows from Forbes.
04:34Thanks for tuning in.
04:42You
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