Sean Quinn, Ireland's richest man, has lost an estimated €1bn ($1.6bn) on his 15% stake in Anglo Irish Bank over the past 18 months, according to a report in The Belfast Telegraph.
Quinn built up most of his holding in the first nine months of last year, market sources said, through “contracts for difference”, using his estimated personal wealth of €4.7bn. At the time of the stake building, Anglo's shares were trading at an average of €15 each, but they have since plummeted to just €4 each.
Aderlass (auch) bei den Schönen und Reichen...
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