Paulson profits $5 billion in 2010: Report

john_paulson.gi.top.jpg By Aaron Smith, staff writer


NEW YORK (CNNMoney) -- What recession? Hedge fund honcho John Paulson profited more than $5 billion in 2010, possibly the largest haul in investing history, according to a news report.

This means that Paulson was making $158.55 per second last year.

In 2010, more than $4 billion of his profits came from fund investments. Most of his funds contained bets on gold, due to Paulson's wariness of the dollar's long-term weakness, based on the Wall Street Journal's report. He placed much of his own money in gold-focused funds, which rose as much as 45% because of gold's meteoric rise last year.

Paulson's take from last year exceeds the $4 billion that he raked in from short bets against subprime mortgages in 2007, according to the news report.

The founder and president of investment firm Paulson & Co. achieved fame and notoriety, for betting against subprime mortgages on the eve of the market crash in 2007. His funds scored gains of as much as 590% from this subprime wager, the news report states.

Other elite hedge fund profiteers in 2010: David Tepper, founder of Appaloosa Management; Ray Dalio, founder of Bridgewater Associates; and James Simons, founder of Renaissance Technologies. Each made between $2 billion and $3 billion last year, reported the newspaper.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,080.14 21.45 0.12%
Nasdaq 5,092.09 36.02 0.71%
S&P 500 2,117.69 4.76 0.23%
Treasuries 1.92 -0.03 -1.54%
Data as of 2:16am ET
Company Price Change % Change
Microsoft Corp 47.87 4.53 10.45%
Apple Inc 130.28 0.61 0.47%
Comcast Corp 59.64 0.41 0.69%
AT&T Inc 34.01 -0.22 -0.64%
Xerox Corp 11.99 -1.15 -8.75%
Data as of Apr 24
Sponsors

Sections

The impact of rising immigration on Britain's economy has become a hot topic in the election campaign. More

Stars of Youtube, Vine, Snapchat, and Twitter are attending this year's White House Correspondents' Dinner. More

A Girl Scouts Cookie Oven rolling out to Wal-Mart, Target, Kmart stores this summer will let you bake those iconic thin mints right at home. More