Soros loses big betting against Trump

Billionaire George Soros, known for his investing acumen and devotion to liberal social causes, lost a bundle betting against Donald Trump last year. According to The Wall Street Journal, Soros lost about $1 billion shortly after the election because he expected the stock markets to tank. Instead, they rallied on anticipation of economic improvement and fewer business regulations under the Trump administration. The S&P 500 Index has gained 5.6 percent since Election Day. While Soros’ personal investments sank, his company overall did better, gaining about 5 percent on the year. Despite last year’s loss, Soros remains one of the world’s wealthiest men, with an estimated net worth of nearly $25 billion. He regularly shares his wealth with liberal organizations and is a particular friend to abortion giant Planned Parenthood. He’s also supported efforts to legalize assisted suicide across the country and helped fund Hillary Clinton’s presidential campaign.