Yes, cronyism can make one very, very rich. Hell, it has made many very rich, but when the politicians doling out the favors need a fall guy, it is going to be the outsider. And for one, that means being hanged.
Babak Zanjani is an Iranian billionaire who was one of those selling Iran's oil on the black market a while back, because of sanctions. Well, it sounds like he may have become a bit greedy and did not kickback to the government and related thieves their full share, so they went after him. He has been arrested and convicted, with a promise that he will hang, once more of the funds are recovered. Do business with crooks and get crooked.
Are you still a billionaire if you are dead? If you cannot spend it, you do not really have it.