(ENTREPRENEUR) – Little was known about Bill Hwang until this week, when a trading fiasco put a spotlight on the $20 billion fortune he lost.
A Korean American immigrant who was once a protege of Tiger Management founder Julian Robertson, Hwang ran his own fund called Tiger Asia Management. At its height, the firm accumulated more than $10 billion in assets, according to Bloomberg.
Soon after, however, Hwang became the subject of an investigation by U.S. securities regulators, who accused him of using confidential information from private placement offerings to short-sell three Chinese bank stocks. Upon settling the claims and paying more than $60 million in fines and disgorgements, Hwang shut down Tiger Asia and opened Archegos as a family office.
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