U.K.’s Richest Lose $5.5 Billion on Britain’s Vote for Brexit

The richest people in the U.K. lost $5.5 billion Friday after the country stunned global markets by voting to leave the European Union. The drop for the 15 wealthiest Britons tracked by the Bloomberg Billionaires Index came as European markets headed for the biggest fall since 2008 and the sterling plunged to its lowest level in more than 30 years.

Peter Hargreaves, co-founder of Hargreaves Lansdown, the U.K.’s largest retail broker, supported the leave campaign and paid the price in the market reaction to the vote. His net worth tumbled 19 percent to $2.9 billion in mid-day trading, the largest percentage drop among the British billionaires.