When is my time? http://topnews.us/content/215341-25-top-earning-hedge-fund-managers-earned-253-billion-overall-2009 According to a Thursday release by Institutional Investorâs AR: Absolute Return+Alpha, a magazine reporting proceedings in the hedge fund industry, the top hedge fund managers received record-high paychecks in 2009, after the turnaround of the financial markets. As per the statistics, the 25 best-paid hedge fund managers earned a record $25.3 billion overall last year â topping the 2007 all-time record high of $22.3 billion payouts; and marking a two-fold increase in the payouts the managers received in 2008, when most of the leading hedge funds reported heavy losses due to the financial crisis. Going by the annual ranking released by AR: Absolute Return+Alpha, the list of the highest-paid managers had David Tepper of Appaloosa Management in the top spot; followed by the Hungary-born investor George Soros in the second spot; and last yearâs topmost earner James Simons of Renaissance Technologies in the third place. While Tepper earned $4 billion in 2009 on investments in the financial sector; Soros earned $3.3 billion; and Simons took home $2.5 billion. Altogether, seven of the worldâs leading hedge fund managers earned 10-figure paychecks. Noting that âhedge funds that survived 2008 were able to capture the gains on the way up in 2009,â Nadia Papagiannis, a hedge fund analyst at Morningstar, elaborated that hedge fund returns showed a notable 19.6 increase in 2009, as compared to a 22 percent loss in 2008.
You always hear about the billions of dollars Soros makes...but why is he only worth 14 billion then? Seems like if you are making that kind of cash every year, you would have more. http://www.forbes.com/lists/2010/10/billionaires-2010_George-Soros_L9II.html
Because he has been giving away huge sums of money for about the last 3 decades. If he had kept it all, like Buffett or Carlos Slim, he'd easily be the richest guy in the world.
Yeah it's weird, Soros has been worth $14 billion for how many years in a row now? I don't think his charitable campaigns come to billions a year.
I can't recall the source, but read that Soros' funds have returned approximately $30B in gains since inception, so you can't be correct if that $30B stat is remotely accurate. The wiki states and refers to a PBS interview which mentions he has donated some $4B to date. IIRC, he's 30% of Quantum http://www.pbs.org/now/transcript/transcript_soros.html
So in plain English, in a particulary bad year as 2008 was, the top 25 managers STILL made half billion on average!