One of World’s Greatest Hidden Fortunes Is Wiped Out in Days
Katherine Burton and Tom Maloney, 30 March 2021
From his perch high above Midtown Manhattan, just across from Carnegie Hall, Bill Hwang was quietly building one of the world’s greatest fortunes.
Even on Wall Street, few ever noticed him — until suddenly, everyone did.
Hwang and his private investment firm, Archegos Capital Management, are now at the center of one of the biggest margin calls of all time — a multibillion-dollar fiasco involving secretive market bets that were dangerously leveraged and unwound in a blink. Continue reading “Article: One of World’s Greatest Hidden Fortunes Is Wiped Out in Days”
Billionaire hedge fund manager Steven A. Cohen is known for owning one of the best private art collections in the world and for his many multimillion-dollar homes. However, he is perhaps best known for having been the subject of one of the government’s most high-profile insider trading investigations.
In 2013 Cohen’s once-powerful firm, SAC Capital Advisors, pleaded guilty to a criminal indictment and paid a record $1.8-billion settlement.
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Carolyn B. Maloney (D-NY) is a committee member of the 116th Congress U.S. House Committee on Financial Services. She is an American politician serving as the U.S. Representative for New York’s 12th congressional district since 2013. A member of the Democratic Party, she is in her 14th term in Congress, having represented the state’s 14th congressional district from 1993 until redistricting in 2013, and the 12th from 2013 to the present. Maloney, for several years, she worked as a teacher and an administrator for the New York City Board of Education. In 1977, she obtained a job working for the New York State Legislature and held senior staff positions in both the State Assembly and the State Senate. She graduated from Greensboro College (BA).
U.S. House Banking Committee on Financial Services