The Obscene Amounts of Money the 10 Highest-Paid Hedge Fund Managers Just Made
Alpha Magazine has released its "Rich List," the annual rundown of the Unites States' highest-earning hedge fund managers and there's an interesting development. The top earners underwent a 45% drop in earnings during 2014, which prompted the magazine to invoke, "harsh memories of the global financial crisis [that] pervaded Wall Street."
Yes, the top hedge fund managers only pulled down a "paltry" $11.62 billion combined in 2014, around the same amount they were able to bag in 2008 and only a little more than half of what they generated in 2013. Head of Appaloosa Management David Tepper fell from Number 1 to 11th, taking in a "mere" $400 million. "In total, it was a rough year for hedge fund industry honchos," Jeff Cox wrote at CNBC.
Yes, rough. Here's the Top 10:
Ken Griffin, Citadel: $1.3 billion
James Simons, Renaissance: $1.2 billion
Ray Dalio, Bridgewater: $1.1 billion
Bill Ackman, Pershing Square: $950 million
Izzy Englander: Millenium: $900 million
Michael Platt, Bluecrest: $800 million
Larry Robbins, Glenview: $570 million
David Shaw, DE Shaw: $530 million
O. Andreas Halvorsen, Viking Global: $450 million
Charles Coleman, Tiger Global: $425 million