Billionaire Mark Mobius Says He Can’t Get His Money Out of HSBC China – ‘They’re Putting All Kinds of Barriers’
Billionaire Mark Mobius, founder of Mobius Capital Partners, says he cannot take his money out of HSBC in Shanghai, China. Citing severe capital control by the Chinese government, he stressed: “It’s crazy … They’re putting all kinds of barriers.” Mark Mobius Has Trouble Getting His Money Out of HSBC in China The founder of Mobius Capital Partners, Mark Mobius, revealed that he cannot get his money out of HBSC in China during an interview with Fox Business last week. Mobius spent more than three decades at Franklin Templeton Investments before starting his own company. He previously served as the executive chairman of Templeton Emerging Markets Group where he managed more than $50 billion in emerging markets portfolios. Discussing the Chinese economy and problems with government control, the billionaire revealed: I’m personally affected. I have an account with HSBC in Shanghai and I can’t take my money out … I can’t get an explanation of why they’re doing this. It’s just amazing.