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Billionaires George Soros, John Paulson Exit Gold

(L-R) George Soros and John Paulson / Getty

 

Billionaire investor and philanthropist George Soros got out of gold in the fourth quarter of 2016, when he eliminated his shares in Barrick Gold, after dissolving its shares in the world’s biggest gold exchange-traded fund, SPDR Gold Trust (GLD), in the previous quarter.

At the same time, billionaire hedge-fund manager John Paulson‘s also cut back his holding in the GLD in the fourth quarter. New York-based Paulson & Co., cut its stake to 4.4 million shares, worth $478 million, from 4.8 million shares, worth $600 million, at the end of the third quarter, according to filings with the U.S. Securities and Exchange Commission.

Read more at Bloomberg

 

 

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