Here’s What the Brexit Did to the World’s 400 Richest People

Brexit Did to the World’s 400 Richest PeopleFor all the scaremongering and threats of an imminent financial apocalypse should Brexit win, including dire forecasts from the likes of George Soros, the Bank of England, David Cameron (who even invoked war), and even Jacob Rothschild, something “unexpected” happened yesterday:

the UK was the best performing European market following the Brexit outcome.

Here s What the Brexit Did to the World’s 400 Richest People

This outcome was just as we expected three days ago for reasons that we penned in “Is Soros Wrong“, where we said “in a world in which central banks rush to devalue their currency at any means necessary just to gain a modest competitive advantage in global trade wars, a GBP collapse is precisely what the BOE should want, if it means kickstarting the UK economy.”

Not only, though. Because as we noted yesterday in “Who Are The Biggest Losers From Brexit?,” there is an even bigger loser than the EU: Britain and Europe’s wealthiest people.

What the Brexit Did to the World’s 400 Richest People

Britain’s 15 wealthiest citizens had $5.5 billion erased from their collective fortune Friday after the country voted to leave the European Union.

Britain’s richest person, Gerald Grosvenor, led the decline with a loss of $1 billion, according to the Bloomberg Billionaires Index. He was followed by Topshop owner Philip Green, fellow land baron Charles Cadogan and Bruno Schroder, majority shareholder of money manager Schroders Plc.

It wasn’t just Britain: as Bloomberg added overnight, the world’s 400 richest people lost $127.4 billion Friday as global equity markets reeled from the news that British voters elected to leave the European Union.

The billionaires lost 3.2 percent of their total net worth, bringing the combined sum to $3.9 trillion, according to the Bloomberg Billionaires Index.

The biggest decline belonged to Europe’s richest person, Amancio Ortega, who lost more than $6 billion, while nine others dropped more than $1 billion, including Bill Gates, Jeff Bezos and Gerald Cavendish Grosvenor, the wealthiest person in the U.K.

Ironically, it turns out that when George Soros threatened The Brexit crash will make all of you poorer – be warned,” what he really meant is “it will make me poorer. And yes, George, the people were warned which is why they voted the way they did.

Sourcezerohedge

Find us here

Get news from the CSGLOBE in your inbox each weekday morning

The views and opinions expressed in this article are those of the authors/source and do not necessarily reflect the position of CSGLOBE or its staff.

Paid content

Georgia House Votes To Allow Citizens To Abolish Police Departments In The State

The Georgia House backed an effort on Friday to dissolve the Glynn County Police Department and any...

14 African Countries Who Still Pay Colonial Tax To France

80% of the 10 countries with the lowest literacy rates in the WORLD among adults are in francophone Africa. Namely: Benin (40%), Burkina Faso (26%),...

France Declares All New Rooftops Must Be Topped With Plants Or Solar Panels

A new law recently passed in France mandates that all new buildings that are built in commercial zones in France must be partially covered in...

What's New Today

Georgia House Votes To Allow Citizens To Abolish Police Departments In The State

The Georgia House backed an effort on Friday to dissolve the Glynn County Police Department and any...

Leaked CDC document contradicts Pence claim that U.S. coronavirus cases ‘have stabilized’

Even as Vice President Mike Pence wrote in a Wall Street Journal op-ed published Tuesday that coronavirus...

Five bombshells about Trump from Bolton ‘s book

Excerpts from former national security adviser John Bolton ’s book about his time in the Trump administration...

Don’t Listen to Fox. Here’s What’s Really Going On in Seattle’s Protest Zone.

It seems I live in a city undergoing a “totalitarian takeover” that will lead to “fascist outcomes”...

MOST READ

What Is Agenda 21? Depopulation of 95% of the World By 2030

Most people are unaware that one of the greatest threats to their freedom may be a United Nations program which plans to depopulate 95%...

Alien Base for Giants Discovered in the Bucegi Mountains

In the summer of 2003, in an unexplored area of the Bucegi Mountains, a team from Zero Department (a top secret section of the...

Putin has Banned Rothschild and His New World Order Banking Cartel Family from Entering Russian Territory

As of recently, Russian president Vladimir Putin took yet another decision for his country. "Under any circumstances", the Rothschild family is banned from entering Russian territory. Along...

Georgia House Votes To Allow Citizens To Abolish Police Departments In The State

The Georgia House backed an effort on Friday to dissolve the Glynn County Police Department and any...

Nestle probed over expired water permit use – Nestle’s California Water Permit Expired 27 Years Ago

Feds investigating Nestle over reports of long-expired water permit amid California drought Federal officials say they are investigating reports that food company Nestle has been...

Clinton and Trump Are Now the Worst Rated Candidates In Over Six Decades

Via a new Gallup poll, more evidence comes Friday that the nation’s electorate really doesn’t like this year’s leading presidential candidates. Presumptive Republican nominee Donald...

Pentagon’s plans for an advanced war-fighting strategy involving robot weapons and remote-controlled warfare

Gearing up for robot weapons wars Deputy Defense Secretary Robert Work on Wednesday outlined the Pentagon’s plans for an advanced war-fighting strategy involving robot weapons...

Physicists Find Evidence That The Universe Is A ‘Giant Brain’

Here is a story worth sharing. We often speak of the universe being a reflection of ourselves, and point to how the eye, veins,...

US treasure hunter kept in jail until he tells police where he hid 3 tons of gold

Tommy G. Thompson was once one of the greatest treasure hunters of his time: A dark-bearded diver who hauled a trove of gold from...

Aspartame Turns Into Formaldehyde and Methanol in the Body: Donald Rumsfeld Got it Legalized

Did you know that Aspartame literally turns into formaldehyde and methanol inside your body? It breaks down into, according to one paper, “phenylalanine (50%), aspartic...

FBI Drops Charges in Child Porn Case to Protect Its Secrets

In a case that’s drawn criticism from multiple angles, two weeks ago federal prosecutors in Washington state dropped all charges against a man who...