Bill Hwang Bio | Wikipedia
Bill Hwang (Full Name: Sung Kook Hwang) is a popular Korean-born American investor and trader who is the founder of Archegos Capital which managed US$10 billion of funds. He also co-founded the Grace and Mercy Foundation, a charitable organization, which, by 2018, had reportedly “over US$500 million in assets.” In April 2021, The Wall Street Journal announced that Bill lost US$20 billion over 10 days in late March, imposing high losses on his bankers Nomura and Credit Suisse.
On April 27, 2022, Bill was indicted on federal charges of fraud and racketeering. He started his career at Hyundai Securities in New York, then served at the now defunct Peregrine Investments Holdings, where Bill met billionaire hedge fund manager Julian Robertson, who was a client and went to serve for Robertson’s Tiger Management.
Julian closed the fund in 2000 but, over his time as its owner, he’d provided some of whom he considered to be his most promising employees, called the “Tiger Cubs”, with funding to begin their own hedge funds. Tiger Asia Management, Bill, Tiger Asia Partners, and retired head trader Raymond Park also paid US$44 million in penalties to the Securities and Exchange Commission. In 2014, Bill was banned from trading in Hong Kong for a period of four years.
Bill Hwang Age | Birthday
Bill was born in 1964, in South Korea. He is 59 years old. At the moment, Bill has not disclosed when he celebrates his birthday.
Bill Hwang Height
He is a man of above-average stature. Bill stands at a height of 5 ft 9 in ( Approx. 1.75m ).
Bill Hwang Family
He was born in South Korea and moved to the United States in 1982. Bill is a Christian and his father worked as a pastor and his mother was a Christian missionary. Bill’s father died at the age of 50, as per a 2018 interview with Bill in the South Korean Kukmin Ilbo newspaper.
Bill Hwang Wife
Bill is married to his wife Becky Hwang. The two lives in Tenafly, New Jersey. Bill and his wife Becky have a daughter named Joanne who studied at Fordham University in New York City.
Bill Hwang Education
After completing his primary and high school education, Bill went and earned an economics degree from UCLA. He also earned an MBA from the Tepper School of Business at Carnegie Mellon University.
Bill Hwang Archegos Capital | Archegos | Hedge Fund
In 2012, Bill closed Tiger Asia Management and created a “family office,” which is more lightly regulated than a hedge fund, called Archegos Capital Management, which managed US$10 billion of funds. In March 2021, a drop at Archegos triggered the default and liquidation of positions approaching $30 billion in value, resulting in “substantial” drops for Nomura, Credit Suisse, Goldman Sachs, and Morgan Stanley. Archegos Capital had held large positions in ViacomCBS, Baidu, Vipshop, Farfetch, and others. Prior to the Archego collapse, Bill was believed to be worth $10–15 billion, with his investments leveraged at 5:1.
Bill Hwang Credit Suisse
In November 2021, Credit Suisse, which took a hit of $5.5 billion from the Archegos drops, closed its prime brokerage business. Texas Capital Bancshares Inc, in which Archegos held a 20% share, plunged following Archegos’ collapse.
Bill Hwang Restaurant | Chinese Restaurant | Akron
His Chinese Restaurant is located at 879 Canton Rd, Akron, OH 44312, USA. The restaurant serves Chicken with Chinese Vegetables, House Fried Rice was delicious with tender beef, chicken, pork, and shrimp.
Bill Hwang Meme
His Archegos margin calls meme shirt, hoodie, tank top, sweater, and long sleeve t-shirt.
Bill Hwang House | Tenafly Nj House | Tenafly Nj
Bill resides in a one-bedroom condominium in Fort Lee, New Jersey, together his family home in nearby Tenafly as part of the $100 million bond set by a judge to ensure he shows up in court on fraud charges. He purchased his home new for $ 3.5 million in 2008.
Bill Hwang Stocks
He and his co-conspirators invested in stocks mostly via special contracts with banks and brokers titled “swaps.” As alleged, those swaps allowed Bill to cause massive buying of certain stocks, such as at carefully selected days and times, to artificially pump up stock prices. In one year, Bill turned a $1.5 billion portfolio and fraudulently increased it up into a $35 billion portfolio.
Bill Hwang Tiger
Julian Robertson gave Bill a starting capital of about $25 million to launch his own Tiger Asia Management fund, which developed to over $5 billion at its peak, prior to suffering “heavy losses” during the 2007-09 Great Recession. In 2012, Tiger Asia Management and Bill acknowledged illegally using inside information to trade Chinese banks’ stocks and agreed to criminal and civil settlements totaling more than US$60 million.
Bill Hwang Bloomberg
As per Bloomberg, Bill asked the judge in his criminal fraud case to let him demand proof from Credit Suisse Group AG, Goldman Sachs Group Inc., Morgan Stanley as well as other big banks, saying they “played a pivotal role” in the firm’s implosion.
Bill Hwang Morgan Stanley
He asked for a probe into Morgan Stanley (MS.N) to review if someone at the bank tipped off outsiders of the firm’s schedule to buy Futu Holdings Ltd (FUTU.O) stock in bulk, as per a Bloomberg News report in May 2022.
Bill Hwang Latest News
Bill is set October 2023 as the month when the trial of him and Patrick, both of whom have pleaded not guilty, will begin. Retired Archegos head trader William Tomita and ex-Chief Risk Officer Scott Becker have both pleaded guilty and acknowledged to testify against Bill and Patrick.
Bill Hwang 20 Billion
In April 2021, The Wall Street Journal announced that Bill lost US$20 billion over 10 days in late March, imposing large losses on his bankers Nomura and Credit Suisse. Prior to losing it all, he was the greatest trader you’d never heard of.
Bill Hwang Church
He also co-founded the Grace and Mercy Foundation, a charitable organization, which, by 2018, had reportedly “over US$500 million in assets.” Bill has been noted as one of the highest benefactors of Christian evangelical organizations and causes. Via the Grace and Mercy Foundation, Bill has made large contributions to Christian organizations including Focus on the Family, the Museum of the Bible, The King’s College, as well as megachurches like Brooklyn Tabernacle, Redeemer Presbyterian Church, plus Ravi Zacharias International Ministries.
Bill Hwang Loss
In 2021, Bill lost $20 billion in two days, but he did it, the absolute GOAT of losing money. This time, Bill stayed under the radar, and even the Fortune billionaire trackers didn’t notice his net worth exceeded $10 billion.
Bill Hwang Margin Call
On March 26, 2021, banks offering prime brokerage services to Archegos began to liquidate billions of dollars’ worth of many stocks following it had failed to meet a margin call. The stocks became announced tied to the total return swaps held by Archegos.
Bill Hwang Viacom
On March 22, 2021, Bill’s House of Cards began to teeter. Viacom CBS reported a secondary stock offering that day, and its share price sank the following day, dragging down the value of Archegos’ portfolio. Bill mounted a massive offensive to boost Viacom, trying to overpower the deteriorating market, as per the indictment.
Bill Hwang Net Worth | Current Net Worth | Net Worth Now | Net Worth Today
He gets his wealth from his work as an investor and trader who is the founder of Archegos Capital which managed US$10 billion of funds. Therefore, Bill has accumulated a decent fortune over the years. Bill’s net worth is $10 billion.
How Old Is Bill Hwang
Bill is a 59-year-old who was born in 1964, in South Korea.
Is Bill Hwang Rich
Yes, Bill’s Archegos Capital Management recreated his early successes, and he rapidly earned tremendous wealth. He was on track to becoming one of the richest investors in the globe – until he lost US$20 billion in two days.
Is Bill Hwang Married
Yes, he married Becky Hwang and together they have a daughter named Joanne who studied at Fordham University in New York City.
Who Is Bill Hwang
He works as the founder and owner of Archegos Capital Management and its connected business entities, which became collectively called Archegos. As alleged, Bill, together with Patrick Halligan, Scott Becker, and William Tomita lied to banks to obtain billions of dollars that they then used to artificially inflate the stock price of many publicly traded companies.
Bill Hwang Social Media Account
Twitter – @BillHwang6