AppLovin Corp. saw its shares fall after two short seller reports emerged, causing a significant impact on its biggest shareholders, including founder Adam Foroughi and BlackRock Inc. Foroughi’s net worth dropped to $19 billion earlier this month. The firm’s recent rally has been followed by a sudden decline over the past week. Tang Hao, a Chinese investor, is reportedly at the forefront of taking control with a significant $4 billion stake in AppLovin Corp., sending shockwaves through its leadership and major shareholders.
Source: https://www.bloomberg.com/news/articles/2025-02-27/applovin-slump-hammers-chinese-investor-with-4-billion-stake