He might have put a subset of his assets in a foundation, which is not included in bankruptcy (as he no longer owns the assets -- the foundation does). Foundat

He might have put a subset of his assets in a foundation, which is not included in bankruptcy (as he no longer owns the assets -- the foundation does). Foundations however, have no owners (generally only beneficiaries), so they often cannot be held liable for the debts of the (original) founders.