George Soros reportedly lost $1bn following Trump victory
Billionaire investor George Soros is reported to have lost as much as $1bn after Donald Trump's victory over Hillary Clinton in last November's US presidential election.
Soros, a hedge fund manager who is well-known for making billions betting against the British pound in 1992, is said to have been sceptical of the market following Trump's unexpected victory.
The Wall Street Journal reported that Soros traded heavily against markets in the US on the back of the result, but it appears to have come back to haunt him.
Instead of instigating a sell-off as most analysts believed, his defeat of Clinton has actually sent US stocks to record levels.
Trump has come in for criticism from the investor since he was vicorious in November, with Soros referring to the Republican as a "would-be dictator".
The Dow Jones Industrial average has gained 10% since 8 November and the NASDAQ and S&P 500 have also saw impressive gains. There may be signs of a slowdown however following the president-elect's press conference on Wednesday, which saw the dollar slumping almost 1% against most major currencies.
"With the engine behind the Dollar's aggressive appreciation partly attributed to optimism over Trump boosting US growth via fiscal spending, the uncertainty presented yesterday should expose prices to renewed downside risks," said FXTM Research analyst Lukan Otunuga.