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In exchange for the life of Tony Stark (Robert Downey Jr.), Stephen gives up the Time Stone. This allows Thanos to use the full power of the Stones to erase half of all organic life in the universe. Stephen himself is erased as well. Though this is all part of the plan, the payoff wouldn’t come for another five years.
Unfortunately, this leaves Earth without a Sorcerer Supreme. In the midst of the Blip, the title is passed down to Wong.
Source: https://www.distractify.com/p/why-is-wong-sorcerer-supreme
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