He Had $20 Billion, Then Lost It All In Two Days

Friday, 9 April 2021Newsdesk

The sudden implosion of Bill Hwang's Archegos Capital Management in late March is one of the most spectacular failures in modern financial history: No individual has lost so much money so quickly. Before he lost it all-all $20 billion-Bill Hwang was the greatest trader you'd never heard of.

New Delhi, 09 April 2021

As per news report of NDTV, starting in 2013, he parlayed more than $200 million left over from his shuttered hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have stood out among the world's billionaires. There are richer men and women, of course, but their money is mostly tied up in businesses, real estate, complex investments, sports teams, and artwork. Hwang's $20 billion net worth was almost as liquid as a government stimulus check. And then, in two short days, it was gone.

Source -NDTV