Low of the lowest20 Sep 2019 12:57
A US multi-billionaire is among those to have pocketed a windfall following the collapse in shares of Sirius Minerals.A hedge fund set up by Ken Griffin is one of several UK and US financial institutions which have cashed in after the plunge in the stock.A number of hedge funds effectively bet on the company’s share price to fall, using a method known as “short selling”.
They include Mr Griffin’s fund Citidel Europe alongside others including HBK Investments, Highbridge Capital Management and Polygon Global Partners.
Mr Griffin is estimated to have a fortune of more than $12bn.Reports suggest short-sellers may have made as much as £20m from Tuesday’s fall.