The Biggest Loser: George Soros Lost Nearly $1B in Weeks After Trump Win

By NTK Staff | 01.12.2017 @12:23pm
The Biggest Loser: George Soros Lost Nearly $1B in Weeks After Trump Win

The billionaire liberal activist bet against Donald Trump and lost big…

In the days immediately following President-elect Donald Trump’s victory on November 8, billionaire Democrat donor and investor George Soros, 86, bet against America.

Soros, who sources described as “cautious” going into November, calculated that the stock market would tank following Trump’s win and subsequently moved funds around to avoid losses. Of course, the opposite happened, stocks soared, and Soros’ attempt to profit from a declining American economy backfired. The Wall Street Journal reports:

As a result, some of Mr. Soros’s trading positions incurred losses approaching $1 billion, the people say. Mr. Soros adjusted his positions and exited many of his bearish bets late last year, avoiding further losses, the people added.

Soros, who was born in Hungary and became an American citizen in 1961, spent “tens of millions of dollars trying to elect Hillary Clinton” during the 2016 election cycle.

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