Richest lost billions, but UK will stabilise
The world’s 400 richest people collectively lost $127 billion on Friday when it became clear that a majority of UK voters had opted to leave the European Union.
That figure from the Bloomberg Billionaire Index is equivalent to almost half of South Africa’s GDP — wiped out in a day.
I chose to highlight that figure because there has been a narrative carving itself out in media commentary since the vote in favour of Brexit became known – that Brexit was pushed by the moneyed class as a means of consolidating their wealth base to the exclusion of the poor and downtrodden.