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Nov 15, 2016 @ 11:47

Mexican Tycoon Carlos Slim, World’s Biggest Billionaire Loser After Donald Trump’s Win

 

Mexican telecom tycoon Carlos Slim Helú is the world’s biggest billionaire loser following Donald Trump’s upset win last week, Forbes data shows. Slim’s fortune plunged from an estimated net worth of $51.7 billion on Monday, Nov. 7 — the day before the presidential election, to an estimated $45.2 billion when markets closed Fiday, according to Forbes Real Time Billionaire Ranking. As a result of the $6.5 billion drop in his fortune, Slim fell from the world’s 6th richest person to the 7th richest.

The drop in Slim’s net worth was provoked in part by the fall of the Mexican currency to a record low and high volatilty on Mexico’s stock exchange. The peso depreciated 13% against the U.S. dollar in the first 24 hours after the election, hitting a record low overnight, according the Mexican press and Reuters. The Mexican currency closed the week about 14% weaker against the dollar, the worst fall since 2008.

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