George Soros's Bad Bet Against Trump Cost His Clients $1 Billion
George Soros’s hedge fund was one of the biggest losers of 2016, as the Hungarian-born billionaire’s misplaced investments turned into a $1 billion loss for his clients, according to a report by hedge fund investor LCH Investments, cited by Bloomberg.
The only notable hedge fund which did worse than Soros is Paulson & Co, which lost $3 billion last year, according to LCH. The biggest winner is billionaire Ray Dalio’s Bridgewater Associates, which earned $4.9 billion for its clients.
After Donald Trump’s election victory, Soros made some bearish market bets. While Soros called Trump a "would-be dictator," and predicted uncertainty and sell-off after his win, the markets rallied significantly.