JPMorgan Shut China Tycoon’s Account That Made Bank Millions (1)

JPMorgan Chase & Co. has shut the private banking account of Tang Hao, a Chinese investor who rose to prominence after taking a multibillion-dollar stake in one of the world’s top-performing stocks, according to people familiar with the matter.

Tang was a notable client of JPMorgan’s China private banking team who generated millions of dollars in revenue before the firm ended relations a few months ago due to know-your-customer issues, the people said, asking not to be identified because the information is private. Tang had a$4 billion stake in AppLovin Corp. as of early 2025 after the US ...