Top Hedge Fund Earners

From Alpha Magazine via the NYT, comes the latest list of earners, in order of 2008 take home pay.

Unlike the weasels who ran Merrill, Morgan, Bear & Lehman into the ground, then grabbed the cash and ran, these boys actually made their money the old fashioned way: They earned it, via outperformance.

Read ’em & weep:

Rank: 1
James Simons
Renaissance Technologies
Est. 2008 earnings: $2.5 billion
Est. 2007 earnings: $2.8 billion

Rank: 2
John Paulson
Paulson & Company
Est. 2008 earnings: $2 billion
Est. 2007 earnings: $3.7 billion

Rank: 3
John D. Arnold
Centaurus Energy
Est. 2008 earnings: $1.5 billion
Est. 2007 earnings: $480 million

Rank: 4
George Soros
Soros Fund Management
Est. 2008 earnings: $1.1 billion
Est. 2007 earnings: $2.9 billion

Rank: 5
Ray Dalio
Bridgewater Associates
Est. 2008 earnings: $780 million
Est. 2007 earnings: $400 million

Rank: 6
Bruce Kovner
Caxton Associates
Est. 2008 earnings: $640 million
Est. 2007 earnings: $100 million

Rank: 7
David Shaw
D.E. Shaw & Company
Est. 2008 earnings: $275 million
Est. 2007 earnings: $210 million

Rank: 8
Stanley Druckenmiller
Duquesne Capital Management
Est. 2008 earnings: $260 million
Est. 2007 earnings: Not available

Rank: 9 (tie)
David Harding, left
Winton Capital Management
Est. 2008 earnings: $250 million
Est. 2007 earnings: $225 million

Rank: 9 (tie)
John Taylor Jr., right
FX Concepts
Est. 2008 earnings: $250 million
Est. 2007 earnings: Not available

Rank: 9 (tie)
Alan Howard, not pictured
Brevan Howard Asset Management
Est. 2008 earnings: $250 million
Est. 2007 earnings: $245 million

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Sources:
Group Brother, Can You Spare a Billion? The Top 25 Moneymakers
Stephen Taub
Alpha, March 25, 2009
http://www.iimagazine.com/Alpha/Articles/2165684/TODAY/Brother,_Can_You_Spare_a_Billion?.html

Things are tough all over
http://www.ritholtz.com/blog/2009/03/big-hedge-fund-money/

See also:
Top Hedge Fund Managers Do Well in a Down Year
LOUISE STORY
NYT, March 24, 2009
http://www.nytimes.com/2009/03/25/business/25hedge.html

Hedge-Fund Pay May Fall 25% in 2009 as Fees Evaporate
Katherine Burton
Bloomberg, March 25, 2009
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJEKqMJXSP.E&

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