Funds underperform, but hedge fund kings rake in $24.3 billion

Written By Unknown on Kamis, 27 Februari 2014 | 10.46

Hedge-fund titans are still the kings of Wall Street.

Last year, the top 25 hedge-fund earners pulled down $24.3 billion, up about 50 percent from 2012, according to a report Wednesday.

The mouth-watering moolah poured in while most hedge funds in 2013 underperformed the broader markets.

But that didn't stop six men from earning more than $1 billion, according to the report in Forbes. The group includes Steve Cohen, founder of the besieged SAC Capital.

George Soros, the 83-year-old retired hedgie superstar whose fund has been around for 40 years, and who is now managing his family's wealth, earned $4 billion — matching the record-high earnings that David Tepper, of Appaloosa Management, took home in 2009.

And speaking of Tepper, the 56-year-old investor earned $3.5 billion in 2013, which comes out to roughly $1.5 million an hour based on a 50-hour workweek and four weeks of vacation.

Since Soros is retired, he makes money just breathing — about $457,000 every hour he is alive.

Hedgies also continue to far out-earn their peers in the private-equity world. The top-earning head of a publicly traded p.r. firm in 2013 was Leon Black of Apollo Global Management, who earned $369 million, according to a report from Bloomberg News.


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