Billion Dollar Hedgies
By BankersBall on May 31, 2006 in Famous Bankers, Hedge Funds, Salaries
Two hedge funds managers made more than $1 billion in ‘05, according to Institutional Investor’s Alpha Magazine (sub req, here’s a piece from Marketwatch). Pay was up 45% from 2004.
- $1.5 BN: James Simons, Renaissance Technologies Corp.
- $1.4 BN: T. Boone Pickens, BP Capital
- $840 MM: George Soros
- $550 MM: Steven Cohen
- $500 MM: Paul Tudor Jones II
Average of top 26 managers: $363 MM.
On Jun 5, 2006, Ben said:
I have one objection to the methodology of these “highest-paid hedgies” lists. It seems like they include as “pay” the return on the managers’ own capital invested in their funds. That doesn’t strike me exactly as a “pay.” To the extent that they get their money managed by their fund free of management fee and promote, one could consider the forgone fee/promote as “pay”, but I have to draw the line at return on capital.