Super Micro Accounting Delay Caps CEO’s $6 Billion Wealth Drop
- Company said it will delay 10-K following Hindenburg report
- Charles Liang’s net worth has fallen by two-thirds from high
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Super Micro Computer Inc.’s 10-K delay erased more than $800 million from Chairman Charles Liang’s net worth Wednesday, capping a wild ride that’s seen his fortune slump by nearly two-thirds from its March high.
The San Jose, California based-company’s shares plunged 19% after it said it will delay filing its annual financial disclosures and will need additional time to assess its internal controls. That came a day after short-seller Hindenburg Research released a report alleging “glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues.”