He Built a $10 Billion Investment Firm. It Fell Apart in Days.

Banks were eager to do business with Bill Hwang and his Archegos Capital Management — until he ran out of money.

Bill Hwang borrowed heavily from Wall Street banks to become the single largest shareholder in ViacomCBS. Then the price dropped.Credit…Emile Wamsteker

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By Kate Kelly, Matthew Goldstein, Matt Phillips and Andrew Ross Sorkin

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