On 2 August 1990, Saddam Hussein ordered his troops to enter and occupy Kuwait. Initially the losses to the Goodman group and its bankers were estimated at £70m. By this time Goodman's companies accounted for 40% of the national beef kill, and had turnover in the region of £1 billion, almost all of it in exports. On 24 August 1990, share prices on the Irish Stock Exchange fell by £400m, with some of Goodman's companies including Food Industries (in which he held a 68% stake) falling from 170p to 110p.