Billionaire at Center of Massive Stock Market Selloff is Fuller Seminary Trustee, Major Donor

The head of a little known multi-billion-dollar investment firm at the center of what experts are calling a margin call-triggered stock selloff of historic proportions, wiping out billions of dollars of wealth essentially overnight, sits on the board of trustees at Fuller Theological Seminary in Pasadena and has also been one of the institutions biggest donors, according to published reports.

Archegos Capital Management, as well as company founder and CEO Bill Hwang, have found themselves embroiled in what Bloomberg described as “one of the biggest margin calls of all time — a multibillion-dollar fiasco involving secretive market bets that were dangerously leveraged and unwound in a blink.”

The collapse was blamed on “outsized bets” on media stocks, using borrowed money, according to the Wall Street Journal.

When the banks issued margin calls last week, Archegos was reportedly forced to liquidate an estimated $30 billion in stocks, causing ripple effects across the market.

Hwang, well known for his outspoken support of Christianity, sits on the Fuller Theological Seminary Board of Trustees, according to the organization’s website.

His nonprofit organization, the Grace & Mercy Foundation, has been among the top donors to the seminary and the Fuller Foundation, with contributions totaling roughly $14 million, Forbes reported. He has also donated millions of dollars to other Christian organizations.

Galaxy Investment Partners CEO Michael Novogratz took to Twitter to opine on the scope of the recent Wall Street shakeup.

“When the facts come out, my sense is the Bill Hwang blow up will be the most spectacular personal loss of wealth in history,” he posted.