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Brexit Stripped World’s 400 Richest People Of $127 Billion

Published on June 27, 2016 by   ·   No Comments

Brexit Stripped World’s 400 Richest People Of $127 Billion

Yournewswire

Brexit sripped the world’s 400 richest people of $USD 127.4 billion in a single day, according to Bloomberg estimates.

Reports say that wealthy Britons only lost a “mere” $5.5 billion

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

RT reports:

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.

British co-founder of stockbroker Hargreaves Lansdown, Peter Hargreaves, lost the most, seeing his fortune shrink by 19 percent to US$2.9 billion.

In a major irony, Hargreaves was the largest donor to the Leave campaign, donating £3.2 million, according to the UK’s Electoral Commission.

Hargreaves has shown no regret, and says he is ready to work with the British government to shape the nation’s economic future once the country stops being an EU member state.

Read More HERE

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