Sung Kook Hwang, also known as Bill Hwang, is an American investor and trader who founded and co-manages Archegos Capital Management.
Mr. Hwang established Tiger Management in 1980 and grew an initial $8.8 million investment from family and friends into nearly $22 billion before stepping down almost two decades later.
He worked as an institutional equity salesperson for Hyundai Securities and Peregrine Securities. The investor is also a founding member of the Grace and Mercy Foundation, which promotes Christian values through the arts, education, justice, and poverty alleviation.
Hwang has been a prominent businessman for many years and has a long history in the trading industry. Many people are curious about his personal life due to his popularity.
Inside Bill Hwang’s married life
Hwang has married his longtime wife, Becky Hwang, since the 1900s. They have been together for over two decades. The couple’s mutual love and understanding made their marriage happy and successful.
Bill Hwang was pictured with his wife, Becky, and their daughter. (Source: Twitter)
The couple is the parents of two daughters. Both of their daughters went to the Dwight-Englewood School in Englewood, New Jersey. In addition, Hwang donated $3.2 million to the school.
Later, the investor enrolled one of his daughters, Joanne Hwang, at Fordham University in the Bronx, New York, but not at Harvard, Yale, or Stanford. As of now, the family of four lives in a private house in Tenafly, New Jersey.
Aside from that, no information about Hwang’s personal life is available because he prefers to keep his personal and professional lives separate. He is also off social media, making it challenging to keep up with what is happening in his married life.
More on Bill Hwang’s net worth and career
According to the Daily Mail, Hwang’s net worth is expected to be around $10 billion in March 2021. However, the losses from the collapse of his main business, Archegos Capital Management, might have reduced his net worth.
It was one of the most dramatic Wall Street meltdowns in decades in March 2021, costing banks more than $10 billion in losses and sparking calls for increased regulatory oversight. The stock market lost more than $100 billion in value in just a few days.
For the time being, Hwang and his bankers maintained their intentions for engaging in such a risky game as a secret. The investor and his former top lieutenant Patrick Halligan were detained on April 27, 2022, and charged with racketeering conspiracy, securities fraud, and wire fraud as part of a scheme to defraud investors.
Likewise, Federal prosecutors in Manhattan claimed in a 59-page indictment that Hwang and Halligan planned to manipulate stock prices. According to Hwang and Halligan’s attorneys, they are not guilty of the charges listed in the indictment. In exchange for two properties and $5 million in cash, the investor was released on a $100 million bond.
Therefore, as of 2023, Hwang has her career downfall, but he is committed to his church. He currently lives in a 6,400-square-foot home, much smaller than his neighbors, and drives a Hyundai SUV.