Top Hedge-fund Manager Made $4 Billion Last Year

[Zeno Swijtink]

A enormous misallocation of resources and decision power.

My friend wrote: "This is obscene but just one data point. Here is the one that should really give you pause. One thousand individuals -- 1,000 of the 6.6 billion people in the world -- own one half of all the wealth there is on planet Earth."

Top Hedge-fund Manager Made $4 Billion Last Year
KATHERINE BURTON - Denver Post

David Tepper, head of Short Hills, N.J.-based Appaloosa Management, earned an estimated $4 billion last year, making him 2009's highest-paid hedge-fund manager, according to a report published by AR magazine.

George Soros, chairman of New York-based Soros Fund Management, ranked second with $3.3 billion, followed by James Simons of Renaissance Technologies in East Setauket, N.Y., who made $2.5 billion.

Last year set a record for the 25 top-earning managers, who collectively made $25 billion, according to the magazine. That's more than double the $11.6 billion the top 25 made in 2008 and about $3 billion more than the previous record of $22.3 billion set in 2007, the magazine said.

Hedge funds climbed an average of 20 percent last year, the most since 1999, according to Chicago-based Hedge Fund Research. The returns came as stock and bond markets rebounded from 2008's credit crisis.

Following Simons were John Paulson, Paulson & Co., $2.3 billion; Steve Cohen, SAC Capital Advisors, $1.4 billion; Carl Icahn, Icahn Capital, $1.3 billion; Edward Lampert, ESL Investments, $1.3 billion; Ken Griffin, Citadel Investment, $900 million; John Arnold, Centaurus Advisors, $900 million; and Philip Falcone, Harbinger Capital, $825 million.
David Tepper

Appaloosa Management

$4 billion

George Soros

Soros Fund Management

$3.3 billion

James Simons

Renaissance Technologies

$2.5 billion

John Paulson

Paulson & Co.

$2.3 billion

Steve Cohen SAC Capital Advisors $1.4 billion

Carl Icahn

Icahn Capital

$1.3 billion

Edward Lampert ESL Investments $1.3 billion

[Thad]

So there they are, what does one do knowing that?

If anyone of the learned community could point the way to design a chart showing the global effects and hidden costs of those profits that would be a good tool to have to work with.