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Silicon Valley Bank crash: Actor Sharon Stone says she lost half her money

At a cancer fundraiser, 'Basic Instinct' actor Sharon Stone said she was doing her part despite facimg financial troubles.

March 20, 2023 / 10:32 AM IST
Actor Sharon Stone: "This is a hard time in the world."

Actor Sharon Stone: "This is a hard time in the world."

American actor Sharon Stone has said she lost half her money to "this banking thing", in an apparent reference to the Silicon Valley Bank collapse, that has spooked markets around the world.

Stone, who is best known for Basic Instinct, was speaking at a fundraiser for cancer research in Beverly Hills. In an emotional speech, she urged guests at the event to donate more, while also sharing her financial troubles.

"I’m a technical idiot, but I can write a f---ing check," Stone said. "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."



Stone also spoke of her personal struggles -- her brother passed away last month after a heart attack.

"My brother just died, and that doesn’t mean that I’m not here," she said at the fundraiser. "This is not an easy time for any of us. This is a hard time in the world."

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The Silicon Valley Bank, an important California-based startup lender, collapsed earlier this month  after a sudden run on deposits, causing fears of a financial crisis like 2008. It was later seized by regulators.

Another large bank -- the New York-based Signature Bank -- imploded in the aftermath of SVB's fall, causing concern among the global banking sector.

There is chaos in Europe too, with Credit Suisse suffering heavy losses and being overtaken by UBS.

first published: Mar 20, 2023 10:24 am