By Jay Heflin - 04/08/10 02:35 PM EDT
Former Citigroup CEO Chuck Prince on Thursday said his net worth has "disappeared" in the wake of the financial crisis because he did not sell his company's shares.
"As I sit here today, I hold virtually every share of stock I owned over a 30 year career," he said.
Prince said the financial crisis caused Citigroup's stock to fall from approximately $50 a share to about $1. The bank received a $45 billion bailout from the federal government.
Prince's remark came during a hearing by the Financial Crisis Inquiry Commission that is examining the cause of the financial crisis the rocked the stock market.