Bill Hwang had $20 billion, then lost it all in two days
25 mins | Apr 19, 2021
The fast rise and even faster fall of a trader who bet big with borrowed money. In just under a decade, Bill Hwang transformed his $200 million hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, he could have been a billionaire. But instead, in two short days, he lost it all. How did this happen? Erik Schatzker, Sridhar Natarajan and Katherine Burton examine the story of the man behind one of the biggest financial failures in modern financial history.