Hong Kong bankers turn billionaires briefly as firm's stock jumps 6,000% before crashing

Two founders of a Hong Kong investment bank briefly became billionaires after the shares of their company, Magic Empire Global, surged 6,149% since debuting in the US on Friday but crashed 89% on Tuesday. Gilbert Chan and Johnson Chen’s stakes worth $1.8 billion and $1.3 billion were reduced to $90 million and $65 million, respectively.