08:54 GMT +321 November 2019
Listen Live
    Brexit

    Britain’s Wealthiest Trio Gains Combined $1.1 Billion After New Brexit Deal Announcement – Report

    CC0
    Business
    Get short URL
    115
    Subscribe

    On Thursday, British Prime Minister Boris Johnson and EU leaders agreed on a new Brexit deal to take the UK out of the bloc on 31 October in an "orderly" fashion.

    The UK’s three wealthiest persons have capitalised greatly on reports about surging stocks and the pound following Prime Minister Boris Johnson’s announcement about a fresh Brexit agreement between London and Brussels, Bloomberg reports.

    Fortunes of business tycoon Jim Ratcliffe, billionaire inventor James Dyson and the Duke of Westminster Hugh Grosvenor rose to a combined $1.1 billion on Thursday morning.

    Hugh Grosvenor, the Duke of Westminster speaks during the official handover of the newly built Defence and National Rehabilitation Centre (DNRC), which will provide world-class rehabilitation facilities for members of the Armed Forces, on the Stanford Hall Estate in Nottinghamshire on June 21, 2018
    © REUTERS / OLI SCARFF
    Hugh Grosvenor, the Duke of Westminster speaks during the official handover of the newly built Defence and National Rehabilitation Centre (DNRC), which will provide world-class rehabilitation facilities for members of the Armed Forces, on the Stanford Hall Estate in Nottinghamshire on June 21, 2018
    Bloomberg Billionaires Index calculations indicate that the 28-year-old Grosvenor’s fortunes accounted for a whopping $700 million of those gains.

    The news outlet suggested that the hefty gains may prove “short-lived” given that the new agreement has yet to be passed by the House of Commons, where PM Johnson has lost an array of crucial votes since taking office in July.

    On Thursday, the pound surged to a five-month high against the dollar, coming close to $1.30, after negotiating teams from Britain and the EU struck a deal.

    UK PM Johnson Touts New 'Great' Brexit Deal

    Earlier, Johnson announced the breakthrough in the Brexit talks, tweeting that “we've got a great new deal that takes back control.”

    He was echoed by European Commission President Jean-Claude Juncker who said that the deal was “a fair and balanced agreement for the EU and the UK and it is testament to our commitment to find solutions."

    The deal, which still need to win the backing of the UK and European parliaments, has already been rejected by Northern Ireland’s Democratic Unionist Party (DUP) as "not beneficial to the economic well-being of Northern Ireland” and something that “undermines the integrity of the Union.”

    Johnson, for his part, has repeatedly pledged to withdraw the UK from the EU 'with or without a deal.'

    Related:

    Johnson’s ‘Great New Deal’ Avoids Brexit Deadline, Distances ‘Liability’ Northern Ireland
    David Cameron: ‘Greased Piglet’ Boris Johnson Could Get Brexit Deal Past Parliament
    Brexit: ‘Boris Johnson Has Shafted the DUP’ and May Have Paved the Way for a United Ireland
    Scotland’s Top Court to Rule if Prime Minister Johnson’s ‘Unlawful’ Brexit Deal is Blocked
    Tags:
    agreement, deal, Brexit, Boris Johnson, Britain
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik