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Bill Hwang Is Lying Low in New Jersey After Losing $20 Billion

Aug. 9, 2021, 9:00 AM

He sits on the porch in a white plastic chair, a swing set out back, the lawn freshly mowed.

Here in suburban Tenafly, 15 miles from midtown Manhattan, few would guess that this unassuming figure is none other than Bill Hwang — the man who just lost more than $20 billion.

“Billion with a B?” gasps a neighbor down the block, when told of the epic blowup at Hwang’s Archegos Capital Management.

The war memorial in Huyler Park in downtown Tenafly New Jersey on Saturday, August 7, 2021
Photographer: Christopher Occhicone

Yes, billion, with a B, as shocked lenders can attest. Four months after Archegos rocked global finance, bankers and federal authorities are still sifting through the wreckage. ...