JD Wetherspoon founder Tim Martin has seen millions wiped off the value of his business ever since Brexit last week, despite him being a campaigner for leave.
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Martin had spent a total of £224,000 on campaigning for the UK to leave the EU, so it was clearly a topic he felt passionately about. However, all of his efforts have pretty much been thrown back in his face, as his company’s value initially went down by £30 million after Brexit. This has since recovered slightly (only a loss of £18 million) but still, not the best outcome when this is something you were really gunning for.
The millionaire had backed the leave campaign through his 920 pub sites and he even toured some of them around the country, trying to convince lonely alcoholics to side with him. To be fair, I think it worked.
Despite all of this shit, he is still confident that Brexit was the right choice, as he said:
No sensible analyst could attribute the price drop to this one event specifically. Look at the FTSE, it’s higher than it was before the vote.
A higher level of democracy always leads to higher economic growth. Look at North Korea versus South Korea, West Germany versus East Germany. The EU is not democratic.
Hmmmm, I wouldn’t get ahead of yourself mate, because things are meant to be getting a lot worse before they get better. Having said that, I reckon Wetherspoons would survive any recession because what do people do when they’re depressed and poor? That’s right, they head on down to Wetherspoons.
Martin isn’t the only guy to lose out from Brexit despite being in favour of leave. This guy actually bankrolled the campaign and has since lost £400 million. Unlucky mate.