Billionaire George Soros lost approximately $1 billion in investments after betting that the US economy would tank following Donald Trump's victory in the 2016 US Presidential election, the Wall Street Journal reported Thursday. Soros, a vocal supporter of Hillary Clinton and left-wing causes, believed that the stock market would see a collapse after Trump's upset win. The Dow Jones has instead risen 9.3% since the election. In contrast, Stanley Druckenmiller, a former deputy of Soros, correctly foresaw that the market would see brief losses due to the shock over the Trump victory, but would quickly rebound. His fund registered a ten percent gain over the year, compared to only five percent for Soros' fund. Soros manages the $30 million Soros Fund Management LLC. He is currently valued by Forbes at $24.9 billion.
