Silicon Valley Bank collapse: American actress Sharon Stone claims she lost half her money
American actor Sharon Stone revealed that she had lost a lot of money in the recent banking crisis in the United States that shocked the world. Referring to it as a ‘banking thing’, she broke down at an award ceremony and urged people there to donate money to Women’s Cancer Research Fund.
The ‘Basic Instinct’ star was honoured with the Courage Award at the Women’s Cancer Research Fund’s “An Unforgettable Evening” fundraiser.
“I know that you have to get on and figure out how to text the money is difficult. I’m a technical idiot, but I can write a fu—ing check. And right now, that’s courage, too, because I know what’s happening. I just lost half my money to this banking thing, and that doesn’t mean that I’m not here,” the ‘Cat Woman’ star said.
Stone also disclosed that she and her family had to remove breast tumours through surgery. She cautioned the audience never to delay a mammogram, blood test, or surgery. “I am standing here telling you I had one-and-a-half and more tissues of my breasts removed, and none of you knew it,” she explained.
US-based Silicon Valley Bank collapsed earlier this month, sparking fears of a recurrence of the 2008 financial crisis.
The US Federal Reserve has been raising interest rates since last year. This reduced bond returns for banks and caused a start-up winter with a slowdown in funding, slowing the rate of deposits with SVB.
Following SVB’s fall, another US bank, Signature Bank, collapsed further sending shockwaves in the global financial sector.
Meanwhile, European bank Credit Suisse also suffered significant losses and is currently being bought over by UBS.
