Timothy Hwang

Timothy Taeil Hwang (born February 20, 1992) is an American businessman, the current co-founder and CEO of FiscalNote, a global software, data, and media company.

Tim Hwang
Tim Hwang at the World Economic Forum, Davos (2018)
Born (1992-02-20) February 20, 1992
East Lansing, Michigan, U.S.
Alma materPrinceton University (Woodrow Wilson School)
OccupationFounder and CEO of FiscalNote
Entrepreneur
Political partyDemocratic Party
AwardsWorld Economic Forum Technology Pioneer, Forbes 30 Under 30,[1] Inc. 30 Under 30,[2] Ernst & Young Entrepreneur of the Year Award
Websitefiscalnote.com

Early life

Tim Hwang was born on February 20, 1992 in East Lansing, Michigan, the son of immigrants from South Korea.[3] His family later moved to Potomac, Maryland, where he was elected as the student member of the Montgomery County Board Of Education and graduated from Thomas S. Wootton High School in 2010.[4][5]

At the age of 14, he founded Operation Fly after a church missions trip to Guatemala.[6][7][8]

Hwang attended the Woodrow Wilson School at Princeton University, where he was also active in helping to found the National Youth Association (now defunct), a national youth lobby organization".[9][10][11] He then was admitted to Harvard Business School.

Business career

In the Spring of 2013, as Hwang was finishing his degree at Princeton,[12] he launched FiscalNote along with two friends from high school, Gerald Yao and Jonathan Chen.[13] Hwang deferred his attendance at Harvard Business School to start the company[14] while Yao took a leave of absence from Emory University. At the time, FiscalNote began its service as a state legislative tracking service.[3] Hwang, Yao, and Chen, bootstrapped the business with several thousand dollars and incorporated FiscalNote in June 2013.[15]

FiscalNote soon moved the company to Washington, DC and raised several rounds of venture capital. The firm has grown to become one of the largest software employers in the District of Columbia. In 2017, Washington DC Mayor Muriel Bowser announced a major job training program and economic development package alongside Hwang, pioneering a new model for technology development in the city.[16][17][18][19] Hwang was the protagonist of a Columbia Business School case study in Fall 2015,[20] a 2016-hour-long Korean Broadcasting System Documentary (Empathy: Tim Hwang at the Center of Korea's Attention),[21][22] and a South Korean biography "24 Year Old Tim Hwang: The CEO that the World is Paying Attention To."[23] Hwang has been widely criticized for making critical comments in the South Korean media about the health of the Korean economy, stating that "the Korean economy is like a patient with crutches."[24][25]

During the 2019-2020 coronavirus pandemic, Hwang fired 30 staff from the CQ Roll Call newsroom, with one source telling AdWeek that the layoffs included the entire team of investigative reporters, and all but one staff member from the print magazine team.[26] A month earlier, Hwang had told a reporter with Washington Business Journal that Roll Call was "on track to bring in $100 million in 2020 revenue and turn a profit.”[27]

Philanthropy

Hwang is a Trustee on the Board of the Community Foundation of the National Capital Region, a member of the Board of the Afterschool Alliance, a member of The Economic Club of Washington, D.C. and the Young Presidents Organization.[28]

References
  1. "30 Under 30 2016: Law & Policy". Forbes.
  2. "How FiscalNote Gets Ahead of Government (So You Don't Have to)".
  3. "Is This the Next Bill Gates?".
  4. "Timothy Hwang Elected New Student Member of the Board". MCPS Bulletin. Montgomery County Public Schools. May 5, 2009.
  5. Peck, Louis (March 24, 2014). "Is This the Next Bill Gates?". Bethesda Magazine.
  6. Kinzie, Susan (12 July 2009). "The Fresh Faces of Philanthropy" – via www.washingtonpost.com.
  7. "Nonprofit, founded by students, expands nationally". ww2.gazette.net. Archived from the original on March 22, 2012.
  8. "Tim Hwang: Freshman in the Forefront of the Non-Profit Sector".
  9. "Princeton Entrepreneurs". 31 October 2011.
  10. Restauri, Denise. "Meet The New "Balancers" -- The College Students Who Figured Out How To Do It All".
  11. "KAmerican Post". www.kamerican.com.
  12. Quora (9 February 2016). "CEO of FiscalNote On The Challenges Of Starting The Company As A College Student".
  13. Schomer, Stephanie (30 August 2017). "This 25-Year-Old Entrepreneur Is Trying to Do the Impossible: Make Sense of the Government".
  14. "Tim Hwang - Helena.co". helena.co.
  15. "The FiscalNote Origin Story – FiscalNote Insights". 16 March 2015.
  16. "Mayor Bowser to Announce New Tech Job Training Opportunities - mayormb". mayor.dc.gov.
  17. "FiscalNote plans new DC headquarters, tech training - Technical.ly DC". 23 June 2017.
  18. https://www.bizjournals.com/washington/news/2017/06/22/a-year-later-fiscalnote-on-the-move-again.html
  19. "FiscalNote Relocates DC Headquarters". www.cpexecutive.com.
  20. School, Columbia Business (11 December 2015). "FiscalNote: Taking on the Big Guys in Information Technology".
  21. "다큐 공감 : 세계가 주목하는 한국 청년 CEO 황태일, Documentary Empathy : Korea at the Center of Attention". OnDemandKorea.
  22. "'다큐공감' 24살 한국청년 황태일, LTE급 추진력". www.polinews.co.kr.
  23. "24세 황태일".
  24. ""제조업 강하지만 미래산업 약한 한국은 목발 짚은 환자"". 1 November 2017.
  25. "수년째 개근한 '고정팬' 많아… "인재포럼 오면 세상의 변화 느낀다"". 3 November 2017.
  26. Nover, Scott (April 2, 2020). "Dozens Fired at CQ Roll Call, a Publication Known for Reporting Inside Washington". AdWeek.
  27. www.bizjournals.com https://www.bizjournals.com/washington/news/2020/02/19/exclusive-inside-fiscalnotes-turbulent-2019-and.html. Retrieved 2020-04-02. Missing or empty |title= (help)
  28. "Authors". World Economic Forum.
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