11:59 Nov. 10, 2016
Financial markets, counting on a win of Democratic candidate Hillary Clinton, are in turmoil
Mexico's wealthiest person lost USD 5.1 billion in the wake of Donald Trump's stunning upset over Democratic rival Hillary Clinton. Carlos Slim, who is fifth-richest in the world, shed 9.2 percent of his fortune after the peso dove as much as 12 percent on the news, Bloomberg reports.
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Slim led declines of USD 41 billion on the Bloomberg Billionaires Index at the start of U.S. trading Wednesday. The Standard & Poor's 500 Index was down 1.1 percent at 10 a.m. in New York. Stock markets across the globe wavered on news that the New York real estate mogul would become the 45th U.S. president.
The index decline almost reversed the USD 57 billion increase the world's richest saw earlier in the week when markets rose on expectations that Clinton would prevail.
The 10 Mexican billionaires on the index dropped a combined USD 6.5 billion in early trading. Eva Gonda Rivera, Mexico's fourth-richest person, followed Slim with a USD 487 million loss while Lorenzo Servitje Sendra, the fifth richest, shed USD 397 million.
U.S. billionaires, who account for one-third of the Bloomberg wealth ranking, had the biggest dollar loss, falling USD 9.3 billion. The combined net worth of the billionaires on the index fell 0.9 percent to USD 4.4 trillion at the start of trading in New York.