Once Worth $30 Billion, Hwang Says He’s Just a Millionaire Now
- Archegos founder estimates current net worth at $55 million
- US wants 21 years, $10 billion restitution for Hwang sentence
Bill Hwang
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Archegos Capital Management founder Bill Hwang, whose family office’s soaring portfolio briefly made him worth more than $30 billion, said he now only has around $55 million.
Hwang, who faces sentencing Wednesday in New York for fraud and market manipulation tied to Archegos’ spectacular 2021 collapse, estimated his current wealth in a Monday court filing. His lawyers are pushing back against prosecutors’ request that Hwang be forced to pay $10 billion to compensate his victims, on top of spending 21 years in prison.