Donald Trump's victory was bad news for more than just Hillary Clinton's supporters. Bloomberg reported that, at the opening bell Wednesday morning, the collective wealth of the world's billionaires was down $41 billion as the shock of Trump's win roiled the markets. Earlier in the week, when Clinton looked poised for a victory, the world's richest saw their wealth increase by a collective $57 billion.
Carlos Slim, Mexico's richest man and the fifth-richest person in the world, was hit particularly hard by the news of Trump's impending victory. As the peso plummeted "as much as 12 percent on the news" of Trump's win, Bloomberg reported that Slim lost $5.1 billion — about 9.2 percent of his wealth.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Donald Trump vs the WHOIn The Spotlight US withdrawal from the World Health Organization could backfire by increasing China's global sway
-
The best dystopian TV shows to watch in 2025The Week Recommends From Severance to Silo, these 'mind-bending' shows make for disturbing viewing
-
Foreigners in Spain facing a 100% tax on homes as the country battles a housing crisisUnder the Radar The goal is to provide 'more housing, better regulation and greater aid,' said Spain's prime minister
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
