Big Take
The Man Who Lost $36 Billion in a Week
May 6, 2024
Bloomberg reporters discuss the rise and fall of Bill Hwang, who lost $36 billion in a week. They delve into his legal troubles and the impact on Wall Street. The podcast explores his humble beginnings in South Korea, his success on Wall Street, and the upcoming trial that could reshape financial history.
17:08
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Quick takeaways
- Bill Hwang's rise and fall highlighted risks of leveraged bets in family offices.
- Hwang's trial could lead to tighter regulations and risk management for family offices.
Deep dives
Bill Huang's Rise and Fall on Wall Street
Bill Huang, a former hedge fund manager, gained recognition through his career characterized by financial success and controversies. Starting from humble beginnings, Huang's career journey spanned from South Korea to Wall Street, where he made a name for himself through his investment ideas and association with Tiger Management. Despite facing setbacks like legal issues related to insider trading, Huang managed to establish Archegos Capital Management, a family office that eventually led to his downfall due to risky and leveraged bets, resulting in a 2021 collapse and massive financial losses.
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