Home » commentary » Brexit Strips World’s 400 Richest People of $127 Billion; George Soros Extremely Pissed Off

Brexit Strips World’s 400 Richest People of $127 Billion; George Soros Extremely Pissed Off

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The following comes from RT:

Brexit-caused losses of the world’s 400 richest people amounted to an eye- watering $USD127.4 billion in a single day, Bloomberg estimates. Rich Britons have lost a “mere” $5.5 billion, according to reports.

The Brexit vote has sent European markets into the steepest decline since 2008. The pound plummeted to a record low, not seen since Margaret Thatcher was prime minister some 30 years ago.

The Bloomberg Billionaires Index says billionaires lost 3.2 percent of their total net worth, now estimated at $3.9 trillion.

The worst losses among European billionaires were suffered by Amancio Ortega, Europe’s richest person, who hemorrhaged $6 billion. Many other mega rich individuals took a massive hit, including Bill Gates and Amazon magnate Jeff Bezos, who lost over $1 billion each.

Britain’s wealthiest person Gerald Cavendish Grosvenor dropped more than $1 billion. However, for the UK’s wealthiest Brexit was surprisingly less devastating than for others in the billionaire class. Altogether, Britain’s 15 richest people lost “only” $5.5 billion.

The fact that the “pain” being felt by the now-poorer rich people is greater for those outside the UK than the ones in–well, this coincides with an analysis put forward by Zero Hedge:

For 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.

On Friday, the market started to price it in too, and in the process revealed that the biggest sovereign losers from Brexit will not be the UK but Europe.

This alone would suggest, that despite the forecasts of doom, the people of Britain made the right choice.

How much Soros lost isn’t divulged in the Bloomberg analysis, but another article at Zero Hedge makes clear the Jewish billionaire is pretty upset at the referendum results–among other things, he’s saying the Brexit vote makes “the disintegration of the EU practically irreversible.”

The article takes note of a Soros commentary published prior to the vote in which he argued strongly against Brexit–an article in which he attempted to “help voters understand the very real consequences of a vote to leave the EU.”

What’s going to happen next is hard to say, but one thing we can safely anticipate will be massive efforts by the billionaires to try and reverse the referendum. Paul Craig Roberts seems to feel the tactics employed may include efforts by central bankers “to pound the pound and to short British stocks in order to convince the British voters that their vote is sinking the economy,” and I personally wouldn’t discount the possibility of artificially created shortages of certain essentials.

The going may ultimately get hard for average people, but what is known for sure is that staying within the EU offers nothing but continued rule by financial oligarchs. Leaving the EU may not change that for the Brits, at least not entirely, but it does offer at least the possibility of a brighter future.

4 thoughts on “Brexit Strips World’s 400 Richest People of $127 Billion; George Soros Extremely Pissed Off

  1. Thanks, good post. I have no clue as to how this development will ultimately sort out, but I am sure that the bottom-feeders are already at work and will ultimately make mega-profits off the misery of the masses.

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