Posted on 11/11/2016 8:09:40 AM PST by mandaladon
The richest man in Mexico has lost quite a bit of his net worth since President-Elect Donald Trump’s presidential victory. Multi-billionaire Carlos Slim lost $4.7 billion from his fortune Wednesday as it went down to $49 billion from “$53.7 billion the day before,” the New York Daily News reported.
Experts say the reason Slim lost so much from his fortune is because the peso fell 12 percent and because of poorly performing stocks, Bloomberg News reported.
Bloomberg News reported that the richest people in the world lost $41 billion after Trump’s win.
Slim, 76, is the “fourth-richest person in the world, according to Forbes.” He falls behind Bill Gates, Amancio Ortega, and Warren Buffett.
“Mexico’s peso went up and down depending on Trump’s performance” in the polls, Forbes reported. The peso went up when scandals broke but went down as his poll numbers soared.
Analyst Juan Francisco Caudillo told Forbes the peso’s value could go down if Trump threatens to leave NAFTA, a free trade agreement between the U.S., Mexico, and Canada.
“The market is going to be trying to see if he’s going to insist on those comments or if he’s going to be taking a more conciliatory tone,” Caudillo told Forbes.
(Excerpt) Read more at breitbart.com ...
“A billion here, a billion there, pretty soon we’ll be talking real money”....... Wasn’t it Biden who said that?
What nonsense. Values change mi ute by minute. He still owns the same assets. Next week they could rise by twice as much.
LOL.....weiner’s in hot water, alright. LOL.
The only thing that will make me smile more is when Trump drags Jeff Bezos, Amazon and the WaPo through antitrust hell.
BBC News was showing the reaction to the results in Mexico City.
I thought people were going to start jumping out of windows.
I won’t be happy until he loses it all. Many of his billions are built on corruption and cronyism.
Everett Dirksen, if memory serves.
How much did Soros lose?
The Dems are always talking income inequality. Trump just fixed some of it!
You got that right. Like another poster said: It’s like waking up to Christmas every morning.
Now, that's what I call "Tax The Rich"!
And he hasn't even taken office yet! LOL. ;-)
BTW; that's $41Bil less for them to fund their thuggish hate-groups, like BLM, ANSWER, ACORN (whatever they're called now), the DNC, etc.
I’m getting so tired of winning!
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