Who is Bill Hwang, the billionaire who lost $20 billion in 48 hours?

bill hwang He was one of the millionaire investors in the markets of the United States. He was the founder of the financial company, Archegos Capital Manager, His success lived up to his record Lost 20 billion dollars in just two days,

Historic defeat of the actions of ViacomCBS on the Wall Street Stock Exchange This brought an end to a distinguished career spanning more than two decades. Bill could not recover from this decline and, in addition to his daring financial strategies, they led him to bankruptcy.

Who is Bill Hwang and how did he make his fortune

Bill’s original name is Sung Kook Hwang, derived from his American name after immigrating to the United States from South Korea at a young age. He is a Master of Business Administration graduate from the University of California. After his years as an analyst at Tiger Management, Tiger Asia Management established Formed in 2001 with the sole purpose of investing in Asian companies.

South Korea and the United States implemented an aggressive business model. He continued to place heavy bets on selected stocks. Most of his bets were on rising prices. in 2012, US Securities and Exchange Commission He was found guilty of enriching himself through manipulation and insider trading in two Chinese bank shares. The bill’s fine was $60 million. But Tiger Asia managed to reach a profit of $10 billion.

after a year Achegos Capital Management founded 200 million dollars came out of his pocket. This company attempted to establish a major presence in business activities. They used swaps, which allowed them to participate in the profits and losses of the assets.

Bill Hwang’s spectacular rise was based on leverage. Furthermore, they followed it up with a winning streak. In 2016, Netflix Inc made a profit of about $1 billion. At the same time, he became a major stakeholder in media conglomerates: VacomCBS and Discovery Inc.

Bill Hwang: How he lost $20 billion in 48 hours

market-share-finance-investment-vivo.jpg

gathering photo

Bill Hwang lost his entire fortune in stocks.

67-year-old South Korean kept practically all his wealth stock market investment, These were liquid capital that could be accumulated and withdrawn throughout life. In March 2021, ViacomCBS announces sale of $3 billion of shares and convertible debt After not being able to compete with many streaming platforms.

Bill’s shares fell 9% on Monday and continued to fall 23% on Wednesday, March 24, No one knew what to do with their actions. If one shareholder sold them, it would destabilize the market for everyone else. At the creditors’ meeting, Bill was asked to sell his shares, which resulted in a loss but which he could afford. But the Korean refused.

Analysts estimate that Hwang took out a loan of 85 million for every 20 million of his, Thus he invested 100 million and was left with the remaining 5 million. But his stock declined so rapidly that he was left with nothing. Not even his company’s building, which cost $120 million of the borrowed money.