George Soros made a fortune betting against the British pound 22 years ago. But if U.S. stocks collapse, he’s poised to make a fortune that would dwarf the $1 billion he made in 1992.
The billionaire’s family office, Soros Fund Management, increased its short position against the Standard & Poor’s 500 Index more than seven-fold to $2.2 billion, it said in a regulatory filing. The put options account for more than 16% of the firm’s total portfolio.
In spite of the massive short bet against the SPDR S&P 500 ETF, Soros remains net-long equities.