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 billionRank: 2
John Paulson
Paulson & Company
Est. 2008 earnings: $2 billion
Est. 2007 earnings: $3.7 billionRank: 3
John D. Arnold
Centaurus Energy
Est. 2008 earnings: $1.5 billion
Est. 2007 earnings: $480 millionRank: 4
George Soros
Soros Fund Management
Est. 2008 earnings: $1.1 billion
Est. 2007 earnings: $2.9 billionRank: 5
Ray Dalio
Bridgewater Associates
Est. 2008 earnings: $780 million
Est. 2007 earnings: $400 millionRank: 6
Bruce Kovner
Caxton Associates
Est. 2008 earnings: $640 million
Est. 2007 earnings: $100 millionRank: 7
David Shaw
D.E. Shaw & Company
Est. 2008 earnings: $275 million
Est. 2007 earnings: $210 millionRank: 8
Stanley Druckenmiller
Duquesne Capital Management
Est. 2008 earnings: $260 million
Est. 2007 earnings: Not availableRank: 9 (tie)
David Harding, left
Winton Capital Management
Est. 2008 earnings: $250 million
Est. 2007 earnings: $225 millionRank: 9 (tie)
John Taylor Jr., right
FX Concepts
Est. 2008 earnings: $250 million
Est. 2007 earnings: Not availableRank: 9 (tie)
Alan Howard, not pictured
Brevan Howard Asset Management
Est. 2008 earnings: $250 million
Est. 2007 earnings: $245 million
>
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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