The Rise and Fall of Bill Hwang: From Hedge Fund Prodigy to Convicted Fraudster

Sung Kook 'Bill' Hwang, founder of Archegos Capital Management, was convicted for his role in a $36 billion collapse due to fraudulent activities. Hwang’s journey from a hedge fund prodigy under billionaire Julian Robertson to a convicted fraudster underscores his significant manipulative trading practices, culminating in his 2024 conviction.

New York – Sung Kook 'Bill' Hwang, the founder of Archegos Capital Management, faced a significant downfall as he was convicted on Wednesday in New York for his role in the $36 billion collapse of his investment firm. The verdict marks a dramatic close to a saga marked by high-stakes trading and regulatory lapses.

Hwang's career began in the late 1990s at Julian Robertson's renowned Tiger Management hedge fund. By 2001, he launched his own fund, Tiger Asia Management, with seed money from Robertson, joining the elite cadre known as the Tiger Cubs. However, regulatory troubles forced Tiger Asia to shutter in 2012, leading Hwang to transform it into the family office, Archegos Capital Management.

The downfall began in March 2021 when ViacomCBS’s stock decline triggered massive collateral demands that Archegos couldn’t meet, resulting in extensive losses for significant banking partners like Credit Suisse and Nomura. With federal charges brought against him in April 2022, Hwang's manipulative trading practices were laid bare, culminating in his conviction on July 2024 with sentencing set for October.