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Tycoon 'gambles away £850,000' in one night in Monaco

You don't become one of London's richest hedge-fund tycoons without taking a few risks. But it seems, for one, a little bit of luck just ran out costing him a reported £850,000.

The principality of Monaco Credit: Reuters

Talal Shakerchi joined five other players for a game in the European Poker Tour in Monaco at the weekend. But despite an impressive track record, which has seen him win more than £1 million, things started to go rapidly downhill.

The Times (£) reports that within hours he went on to lose more than £850,000.

Talal Shakerchi, who was born in the Midlands, is worth an estimated £100 million. A commentator who was tweeting on the weekend's events said:

The game took place on Saturday Credit: Press Association

Such a huge sum might be enough to ruin anyone's night. But despite his bad luck, all Talal Shakerchi was heard to say at the end of play was:

Goodbye, see you guys tomorrow.