World’s richest lose $41 billion with Trump win
The Trump victory has not been good for the markets.
Mexico’s wealthiest person lost $5.1 billion in the wake of Donald Trump’s stunning upset over Democratic rival Hillary Clinton. Carlos Slim, who is fifth-richest in the world, shed 9.2 percent of his fortune after the peso dove as much as 12 percent on the news.
Slim led declines of $41 billion on the Bloomberg Billionaires Index at the start of U.S. trading Wednesday. The Standard & Poor’s 500 Index was down 1.1 percent at 10 a.m. in New York. Stock markets across the globe wavered on news that the New York real estate mogul would become the 45th U.S. president.
The index decline almost reversed the $57 billion increase the world’s richest saw earlier in the week when markets rose on expectations that Clinton would prevail.