Bankruptcies are a method used to reorganize a business in financial duress. Businesses that succeed only do so by taking risks. These risks don't always work out and often times lead to restructuring and trying something else. Without bankruptcy this would be much more difficult and less businesses would take risks.
Someone that has a controlling interest in 500+ businesses with only 6 bankruptcies tells me that they are extremely successful and knows much more than most what they are doing.