Hedge Fund Managers Made Record Profits Last Year

By Apr 1, 2010, 1:48 PM Author's Blog  

Hedge Fund Managers Made Record Profits Last YearFor the richest hedge fund managers the global recession proved to be very profitable.

In 2009 the 25-top earning hedge fund managers were paid a collective $25.33 billion, more than double the amount they took home in 2008, according to data provided by the NYT.

Leading the way was David Tepper, who runs Appaloosa Management. Mr. Tepper’s fund gained more than 130% last year, earning him $4 billion in fees and investment gains.

Here is the 2009 list of Top Earning Fund Mangers: (the figures include  both managers’ share of the firm’s management fees as well as the actual value of their personal stakes in their funds.)

1. David Tepper, Appaloosa Management: personal gains: $4 billion.

2. George Soros‘ Quantum Endowment fund grew 29% in 2009, earning Mr. Soros $3.3 billion.

3. James Simons, Renaissance Technologies, raked in $2.5 billion. Mr. Simons, a former mathematics professor who uses complex computer-driven mathematical models to make bets on stocks, bonds and commodities, among other things, announced his retirement from Renaissance Technologies last year.

4. John Paulson, Paulson & Company earned $2.3 billion in 2009. Mr. Paulson had the Nr. 1 spot in 2007 when he earned $3.7 billion. Mr. Paulson has significant investments in both the SPDR Gold Trust ETF (GLD) and AngloGold Ashanti Limited (AU).

5. Steve Cohen, SAC Capital Advisors, earned $1.4 billion.

6. Carl Icahn of  Icahn Capital, and Edward Lampert, ESL Investments, both earned $1.3 billion.

8. Kenneth Griffin, Citadel Investment Group and John Arnold, Centaurus Advisors were a tie too, both earning $900 million.

10. Philip Falcone, Harbinger Capital Partners, earned $825 million.

The minimum individual payout on the list was $350 million in 2009.

Full AR: Absolute Return + Alpha Magazine list of the Wealthiest fund managers »

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