Throughout his life, Dufferin was known for living beyond his means, and had heavily mortgaged his estates to fund his lifestyle and improvements to the estates. In 1875, with his debts approaching £300,000, he was facing insolvency and was forced to sell substantial amounts of land to pay off his creditors. After he retired from the diplomatic service in 1896, he received several offers from financial speculators hoping to use his high reputation to attract investors to their companies. In 1897, worried about the family financial situation, he was persuaded to become chairman of the London and Globe Finance Corporation, a mining promotion and holding company controlled by Whitaker Wright, but in November 1900 shares in the company crashed and led to its insolvency. It subsequently transpired that Wright was a consummate fraudster. Dufferin lost substantial money on his holdings in the company, but was not guilty of any deception and his moral standing remained unaffected.