He also donated another $48 million of Expedia and Facebook stock. In 20, Hwang contributed $210 million of Netflix stock to the foundation, and between 20 he contributed $236 million of Amazon stock, tax records show. Publicly available tax records of the foundation show it has contributed $79 million to theological seminaries, Christian humanitarian charities and other religious institutions.īut the Grace and Mercy Foundation tax records also provide a window into what Bill Hwang has been up to in his family office. Hwang’s strong religious beliefs are reflected in the activities of the Grace and Mercy Foundation, a non-profit grant-making organization he founded in 2006 that is based in Archegos’ office in a midtown Manhattan office building. The party was Robertson’s way of saying “thank you.” Due to Hwang’s passionate Christian beliefs, a preacher was even brought to the party to deliver a religiously-inspired talk to the guests as they sipped white wine. At its peak, Hwang’s Tiger Asia Management oversaw $8 billion of assets and Hwang had made a lot of money for Robertson, who was a big investor in the firm and shared in its economics. Robertson’s Tiger Management had been a pioneering force in the hedge fund industry and he had supported many of his traders, including Hwang, as they started their own hedge fund firms, known as Tiger Cubs. More than a decade ago, after Bill Hwang’s Tiger Asia hedge fund had a particularly good year, legendary trader Julian Robertson decided to hold a party for Hwang at his house. “He truly is one of the world’s best investors.” He does so much work on the companies he invests in and is always hedged, and the companies he invests in are generally high quality,” says a person familiar with Hwang's investment operations.
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