A HEDGE fund tycoon made more than £220 million (US$301 million) for himself and his investors Friday after betting on Brexit.

    As many in London nursed heavy losses, staunch Leave supporter Crispin Odey declared, “I think I may be the winner.”

    He is one of a handful of hedge fund bosses to have hit the jackpot after taking big “short” positions on company stocks and sterling, betting on their value falling in the aftermath of a vote to Leave.

    The 57-year-old, who manages more than £8 billion and has an estimated personal fortune of £900 million, revealed that in the run-up to the vote he had invested heavily in gold, a safe haven amid market turmoil, and bet on the pound falling against the dollar.

    The tactic paid off handsomely Friday as investors rushed to buy gold, pushing its price to a two-year high as both the pound and the FTSE 100 fell sharply.

    Odey revealed his trading position had left him in line for huge losses if financial markets had risen and he had lost his gamble.

    He had bet against housebuilder Berkeley Group, which fell in value by more than a fifth Friday and stocks including Lloyds, which dropped 21 percent and ITV, down more than 20 percent.

    He said he expected funds running around £1.5 billion to have gained 15 percent in value — a windfall of more than £220 million.

    Odey had commissioned a private poll ahead of the referendum to steal a march on the financial markets.

    In a statement shortly after the result was announced, he said “ordinary people have spoken,” adding, “We must remember how close it was but also how brave a decision it was!”

    Odey and other hedge fund managers capitalized on the economic chaos which wiped millions off the value of British and European stocks and shares.

    George Soros, who is known as the man who broke the Bank of England, warned of market chaos if the country voted in favor of Brexit.

    According to The Times, he had been investing heavily in gold and gambling that stocks would fall.

    Even U.S. presidential candidate Donald Trump claimed he would make money from Brexit as a fall in the price of sterling will encourage more tourists to visit his Turnberry golf resort in Scotland.

    Money managers were positioned relatively defensively coming into the vote, meaning they had reduced the amount of capital exposed to market turbulence, and even used the resulting sell-off as a buying opportunity, according to a report from Credit Suisse’s prime brokerage division.

    Eric Siegel, head of hedge fund investments at Citi Private Bank, said, “I don’t want to say it’s a nonevent, but we’re not seeing panic. It’s just a bad day in the market.”

    Hedge funds that bet on or against European stocks were hit hardest Friday, with most losing between 2 and 4 percent, two investors familiar with the numbers said.(SD-Agencies)