George Soros allegedly lost almost $1 billion, after he bearish according to Donald Trump the choice.
George Soros, the billionaire hedge-Fund manager and liberal financier, has lost nearly $1 billion, after he reported bearish after Donald Trump’s election victory, The Wall Street Journal.
The 86-year-old was cautious about the market, before in November the election was more likely to attract bearish according to Trump. So far, the bet was a mistake, and the stock market has risen about 9 percent in the past two months, the report said.
Soros Fund Management LLC, has over 250 distributors, and managed over 30 billion dollars. The billionaire took a more active role in the company in anticipation of unrest in China and the European Union, the report said, citing persons familiar with the issue.
In recent years, Soros has become an advocate and donor to liberal causes His name allegedly appeared in the Wikileaks E-Mails from Hillary Clinton’s campaign chairman, John Podesta, of the 60 times.
Soros, who called last year a “global system of political decision-making,” came out strongly against the trump card in the campaign. He reportedly $7 million contributed to the priorities USA action and gave the Clinton campaign a maximum of 2,700 euros donation. He has also contributed $5 million to a super PAC whose goal is the mobilization of Latinos and other immigrants, hoping to stop the trump campaign.
Soros has deep a long history of contribution by millions of people on the liberal political causes, and bags, not much as his. He is ranked 23 in the latest Forbes richest men list.
The Wall Street Journal reported that, in total, Soros’ Fund is up to 5 percent on the year.