Before he lost US$20 billion, Bill Hwang was the greatest trader you had never heard of
Trader Bill Hwang. Photo: Bloomberg / Emile Wamsteker
Before he lost it all - all US$20 billion - Bill Hwang was the greatest trader you had never heard of.
Starting in 2013, the Korean-American investor parlayed more than US$200 million left over from his closed hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have stood out among the world's billionaires. There are richer men and women, of course, but their money is mostly tied up in businesses, property, complex investments, sports teams and artwork. Hwang's US$20 billion net worth was mostly liquid. And then, in two short days, it was gone.