Billionaire George Soros went for broke backing former Secretary of State Hillary Clinton in her disastrous bid for the presidency.
Now, he might be going broke for real!
Soros, a shadowy figure who has been both secretly and openly financing liberal causes, reportedly bet big against the country when President-elect Donald Trump won the election in the most incredible political upset in U.S. history.
The news sent shockwaves around the world, and Soros believed it would cause the stock market to tank.
The Wall Street Journal reports that he went into full bear mode, betting AGAINST the market.
So when it rallied instead to record highs, Soros was left in a ditch – and has reportedly lost over a billion dollars.
The rally, like the election itself, defied history; in most cases, the Journal reported, markets rally BEFORE the election and then slow AFTER.
Since Trump’s victory, however, the stock market has surged.
In the days before the vote, the market dropped to below 18,000.
This week, it’s threatening to crack 20,000.
That’s an incredible rally by any definition – but one that caught Soros and his ilk completely off-guard.
But not everyone.
Those who bet FOR the nation… FOR jobs growth… and FOR our economy… all won big.
That billion Soros lost? One of his old colleagues found it.
Stanley Druckenmiller, who left Soros in 2000, gained $1 billion from the “Trump Bump” rally that kicked in after the election.
The two differ in another key way: While Soros gave some $20 million (that we know of) to left-wing candidates in 2016, Druckenmiller donated $3.5 million to Republicans, according to Fox Business.
We know who got more bang for his buck in that deal!
Soros, of course, spilled enough sour grapes to start the world’s worst winery after the one-two punch of a lost election and lost big.
He published an editorial last month claiming the election result was because “many people felt the elites had stolen their democracy.”
Yes, one of the world’s richest men – an unapologetic globalist who has called for a “global system of political decision-making” and given wheelbarrows of cash to his favored candidates – is complaining about elites stealing democracy.
You can’t make that up!
But don’t shed any tears for Soros.
While his MASSIVE loss is inconceivable to most Americans and could take down a major corporation, it’s just a drop in the bucket for him.
His family’s fund is still worth about $30 billion.
But after two bad bets in a row… one against the president, one against the economy… it’s clear that Soros has lost his golden touch.
— The Horn editorial team