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Hedge Fund Managers Raking in Billions, Finds 2017 Rich List

Best-paid managers earned $11 billion in 2016, per annual Alpha report

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Despite some big-leaguers bowing out, it’s still a highly lucrative business managing a hedge fund.

According to Institutional Investor’s Alpha magazine’s 2017 Rich List, the 25 top-earning hedge fund managers raked in a combined $11 billion in 2016.

Below is a list of the top five earners:

(1) James Simons, Renaissance Technologies – $1.6 billion
(2) Ray Dalio, Bridgewater Associates – $1.4 billion
(3 – tie) John Overdeck, Two Sigma – $750 million
(3 – tie) David Siegel, Two Sigma – $750 million
(5) David Tepper, Appaloosa Management – $700 million

As The New York Times notes, “some of the best-known names in the industry—including William A. Ackman, John A. Paulson, and Edward S. Lampert—failed to make the list. Also missing from the list: women.”

In order to qualify for the top 25, managers only needed to earn $130 million, the lowest total since 2011.

Per the Times, “The list is based on estimates drawn from each individual’s share of their firm’s management and performance fees. It also takes into consideration each manager’s own capital invested in the funds.”

Read full story at The New York Times