“Who is behind Archegos?Archegos Capital Management is the household financial investment lorry established by former Tiger Management analyst Bill Hwang in 2013. The federal firm alleged that he used confidential details received in private positioning offerings to brief sell three Chinese bank stocks.After the settlement, Hwang closed Tiger Asia Management and Archegos was born.Archegos is a Greek biblical word for leader or prince.$500 million charityHwang also has a charity called “Grace and Mercy Foundation” with $500 million in assets, according to the most current tax filings, spotted by CNBCs Robert Frank.The foundation has actually kept a low profile in the charity world, even with its massive size.The charity has actually created generous tax write-offs for Hwangs investments.For example, Hwang donated a $20 million gain in Amazon stock in the newest year, which permitted him to prevent the capital-gains tax and get a tax deduction.Hwang donated $16 million in the latest year to Korean Christian causes.

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