Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

25 hedge fund managers = $22 billion in pay

By Charles Riley, staff reporter


NEW YORK (CNNMoney) -- The 25 highest-paid hedge fund managers took home a combined $22.07 billion in 2010, according to a industry magazine's survey released Friday.

And, believe it or not, that's actually down nearly 13% from the prior year, when they earned $25.33 billion, AR Magazine said.

AR said pack leader was John Paulson, who earned a record $4.9 billion. That means he was making around $155 per second last year.

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. But in 2010, he turned his attention to gold.

Nearly 90% of Paulson's personal money is invested in either his gold fund, which returned more than 35 percent last year, or in the gold shares of his other funds, according to AR.

"In 2001, the combined income of the top hedge fund managers was less than $5 billion -- about what Paulson alone made in 2010," Michelle Celarier, editor of AR, said in a statement.

Paulson wasn't the lone member of AR's billionaire's club. Also making the cut were Ray Dalio of Bridgewater Associates, at $3.1 billion, Jim Simons of Renaissance Technologies, at $2.5 billion, David Tepper of Appaloosa Management, at $2.2 billion, Steve Cohen of SAC Capital Advisors, at $1.3 billion, and Eddie Lampert of ESL Investments, at $1.1 billion.

And what was the lowest amount a manager could earn and still make the list? $210 million. To top of page

Search for Jobs

Index Last Change % Change
Dow 20,837.44 15.68 0.08%
Nasdaq 5,861.90 16.59 0.28%
S&P 500 2,369.75 2.41 0.10%
Treasuries 2.37 0.05 2.24%
Data as of 1:08am ET
Company Price Change % Change
Bank of America Corp... 24.57 0.34 1.40%
Chesapeake Energy Co... 5.62 -0.04 -0.71%
Ford Motor Co 12.66 0.19 1.52%
Frontier Communicati... 3.29 -0.08 -2.37%
Freeport-McMoRan Inc... 13.27 0.02 0.15%
Data as of Feb 27
Sponsors

Sections

Sterling Jewelers, the company that owns Kay Jewelers and Jared the Galleria of Jewelry, has been accused of fostering a culture of sexual harassment and discrimination against its female employees. More

Governors are split over reforming Obamacare and Medcaid. But there is one thing they agree on: They don't want their residents to be left uninsured. More

California is the hardest state for first-time homebuyers, according to a new report from Bankrate.com, while Iowa is the easiest state to put down roots. More