Top 10 RICHEST Hedge Fund Managers In The World
2020 will be remembered as one of the worst in world history. Nearly 2 million people have died from the coronavirus, tens of millions have lost their jobs, and countless people on the planet are faced with an unprecedented disruption to their daily lives..
Nevertheless, for some financiers, 2020 turned out to be very successful in economic terms. Top Fifteen Hedge Fund Managers Collectively Earn $ 23.2 Billion. This is more than the GDP of Iceland or, for example, Zambia.
Chase Coleman, founder of Tiger Global Management (TGM), earned $ 3 billion for effective management and profit from his personal investment in the fund, Bloomberg reported.
This is believed to be the biggest annual salary for anyone since another hedge fund manager, John Paulson, made $ 5 billion in 2010, betting on economic recovery from the financial crisis..
Coleman’s $ 3 billion will be added to the $ 4.5 billion he already has, according to Forbes. He is currently ranked 458th among the richest people in the world..
Coleman and his TGM fund have made an impressive amount of money by investing in tech stocks including PayPal, Google, bicycle company Peloton, and Zoom and Slack.. His fund was also one of the first investors in Facebook..
He started his career at 24 when Julian Robertson, founder of Tiger Management, gave him $ 25 million in start-up capital to start Tiger Global. Coleman attracted Robertson’s attention because he was a friend of his son.
In 2005, Coleman married Stephanie Erklenz, daughter of a banker and industrial tycoon Enno Erklenza.
The couple owns several houses, as well as a two-story apartment near Central Park in New York. Its cost is estimated at over $ 100 million..
The second earning top manager of hedge funds is the founder of Renaissance Technologies Jim Simons, earned $ 2.6 billion.
Also on the list is Bill Ekman, founder and CEO of Pershing Square Capital Management. Ekman, who according to the list made $ 1.3 billion, made a fortune by predicting a market crash last spring..
«We see that a small group of people have made a colossal amount of money from speculative financial activities of questionable value to most people. It’s clear that this is a terrible way to allocate capital, in the midst of a global pandemic, with families losing jobs and homes, businesses going bust and government services under tremendous stress.», – says the executive director of High Pay Center Luke Hillard.