The unexpected victory of Donald Trump became an extremely influential factor for the stock market and its players. George Soros, a hedge-fund manager and billionaire, is far from the feeling of happiness after the Republican’s victory–in weeks, Mr Soros lost nearly $1 billion.
George Soros, one of the biggest financial managers, lost about $1 billion. The reason is the unexpected victory of Donald Trump, that fact caused a stock market rally after the US presidential election in 2016.
The fragile balance between supply and demand was ruined after the news about Trump’s presidency, hat led to the giant reduction of Mr Soros’s avoirs. The financial experts suggest that George Soros lost about $1 billion in November. The market analytics had predicted a tumble for stocks in the wake of the election, but instead the Dow Jones Industrial Average has climbed 9.3%.
As a matter of fact, Mr Soros was cautious about the market going into November and became more bearish immediately after Trump’s election, according to people close to the financial secrets of the hedge manager. As a result, some of Mr Soros’ trading positions incurred losses approaching $1 billion, how much have lost other powerful traders, is still unknown.
