The one thing that most people understand about hedge funds is that there’s a lot of money to be made with the right manager. The top managers are often seen as “rock stars” of the financial world with how much they’ve made using their education, skill, and even some intuition. Read on to meet therichest hedge fund managersand their estimated worth.
What Does a Hedge Fund Manager Do?
The only thing a person needs to know about hedge fund management is that the manager decides when and where to invest their customer’s money. A great hedge fund manager uses all of the tools at their disposal, along with perfect timing and the right choices. It takes an extraordinary mind to make it onto a list featuring the wealthiest managers in the world!
The Richest Hedge Fund Managersin the World
When someone establishes themselves as a high-earning, successful hedge fund manager, they’ll likely enjoy years of ongoing success. Here are the top names enjoying being the wealthiest managers in the world.
20. Said Haidar Net Worth- $859 Million
The New York Postreports thatHaidar Capital Managementhas seen some whopping gains with a 193% return! Said started working as a Lehman Brothers trader before starting his hedge fund 25 years ago. The future billionaire bet that high inflation could cause interest rates to rise.
While little is known about Haidar Capital Management and its founder, one thing is clear. Said has a talent for investing to make money. Period.
19. Daniel Loeb Net Worth - $920 Million
Currently Chief Executive Officer and Chief Investment Officer ofThird Point, Loeb has made a name and fortune for himself since graduating from Columbia. His management style was described byNew York Magazineas identifying companies in distress, overhauling inefficient management, and working to make the company profitable again.
His career has been well-balanced with both hedge fund management and well-documented activism. TheThird Pointwebsite lists his philanthropic interests in education, justice reform, LGBT freedom, American heroes, and Alzheimer’s.
18. Daniel Sundheim Net Worth - $1 Billion
Daniel is the Chief Investment Officer and Founder of D1 Capital Partners, LP. The company trades in both public and private markets for investors from all over the world.
Bloomberg.comreports that the firm’s overall investment strategy concentrates on medium to long-term gains. They accomplish this across various services, including health care, real estate, business services, media, technology, and finance.
17. Karthik Sarma Net Worth - $3.1 Billion
Sarna started as a consultant for McKinsey & Co. after earning a bachelor’s degree from the Indian Institute of Technology Madras and a master’s degree from Princeton University. From there, he joined Tiger Global Management until he foundedSRS Investment Managementin 2006.
A significant portion of his wealth comes from the SRS’s 43% ownership of Avis common stock as well as equity swaps, according to Forbes.com. It surged by 456% in 2021. So it’s no wonder Sarma has served on the Avis board since May 2020.
16. Stephen Mandel Jr. Net Worth - $3.6 Billion
Mandel started his firm, Lone Pine Capital, in 1997 after learning from legendary Julian Robertson. The firm is known for being at the top of its game with basic analysis and stock picking.
Although Mandel stepped back from investment management in 2019, he stays active as a managing director. He also keeps busy on the board of directors forTeach for America. He’s passionate about charter schools and donates considerable time and money to this cause.
15. Stanley Druckenmiller Net Worth - $6.8 Billion
Druckenmiller has been in hedge fund management for 30 years, according toForbes.com, having worked with another hedge fund manager on this list until 2000. George Soros and Drunkenmiller made huge profits when they bet against the British pound in the early 1990s.
He also foundedDuquesne Capital in 1981. When he closed it in 2010, it had more than $12 billion in assets. That’s not too bad for a guy who started his financial career as a management trainee for the Pittsburgh National Bank.
14. Paul Tudor Jones Net Worth - $7.3 Billion
Paul foundedTudor Investment Corporationand is best known for his “macro-trades,” particularly in his wagers on interest rates and currencies. He started his corporation in 1980 and has billions in assets today.
Forbes.comreports that the future billionaire began working at his father’s business newspaper during college. His trading career began when he learned under famous trader Eli Tullis at the New York Cotton Exchange.
Jones is yet another philanthropic hedge fund manager. He established theRobin Hood Foundationin 1988 to help reduce poverty in NYC.
13. David Shaw Net Worth - $7.5 Billion
Not everyone can change from being a computer science professor to founding their own firm managing more than $60 billion in capital, but that’s what David Shaw did! He founded D.E. Shaw in 1988 and used complex math and other data to make money for himself and his clients.
Shaw is no longer actively involved in the daily operations of his firm. Instead, he has veered into another venture atD.E. Shaw Research, a computational biochemistry research organization.
12. Kenneth Fisher Net Worth - $7 Billion
The founder of Fisher Investments isn’t your typical ivy-league hedge fund manager, according toForbes.com. The current billionaire dropped out of high school before enrolling in college to “take better classes.”
He beganFisher Investmentsin 1979 with only $250, and it’s done nothing but grow from there. The manager has also found the time to become the author of almost a dozen books. Six of those books became national best sellers. The financial wizard also pens articles for the Financial Times, USA Today, and other publications.
With a reported $197 billion in assets under his management, it’s no wonder Fisher’s name is on a richest hedge fund manager’s list.Yahoo.comreports that the Executive Chairman and Co-chief Investment Officer has a stock portfolio that added up to $133 billion in the final quarter of 2022.
11. Christopher Hohn Net Worth - $7.9 Billion
This British hedge fund manager founded The Children’s Investment Fund Management, or TCI, in 2003. Any profits made were put into The Children’s Investment Fund Foundation, a charity that helps children living in poverty.
The term “activist investor” has been used to describe Hohn, and for a good reason. By 2014, the investor had put over $4.5 billion into The Children’s Investment Fund Foundation. He’s made theForbes billionaires listand theForbes’s most generous philanthropists not based in the U.S.list.
10. George Soros Net Worth - $8.6 Billion
No matter how you feel about Soro’s interest in politics, there’s no denying that he’s a force to be reckoned with regarding investments. He started the Soros Fund in 1973, later known asQuantum Endowment Fund. Soros made controversial and, in some people’s opinions, reckless investment decisions that ultimately paid off for him.
According toBritannica.com, Soros made a profit of $1 billion during the devaluation of the pound sterling. This earned him a playful nickname of “the man who broke the Bank of England.”
Soros is also well-known for his philanthropy. He’s given millions of dollars to various groups, causes, and even political campaigns worldwide.
9. Chase Coleman Net Worth - $10.3 Billion
Even though Coleman began as a hedge fund investor, he hit his stride and income potential when he started Tiger Global in 2001. The firm has the distinction of having a 21% return for its first 20 years in operation. Although returns have fallen dramatically, Tiger Global is still considered competitive.
8. Israel Englander Net Worth $11.5 Billion
Englander began working as a floor broker and trader on the American Stock Exchange. His involvement with anything that had to do with the stock exchange, including being present on many American Stock Exchange Committees and as the Chairman of the Specialist Association, has served him well to reach the heights which he enjoys today.
Israel Englander foundedMillenniumin 1989 and remains Chairman and Chief Executive Officer of Millennium today. While he started the firm with $35 million, it now manages almost $53 billion today, according toForbes.com.
7. Michael Platt Net Worth - $15.2 Billion
After spending almost a decade working at JP Morgan, Platt co-foundedBlueCrest Capital Managementin 2,000 and is currently the third largest firm in Europe, according toBiographyScoop.com. At its high point, BlueCrest has managed over $35 billion.
During a particularly rough period for BlueCrest,Forbes.comstates that Platt repaid outside investors’ money before reorganizing the firm into a family office. Since then, the firm has been enjoying a comeback, getting a 95% net return in 2020.
6. Carl Icahn Net Worth - $16.5 Billion
Despite some controversy over serving the Trump Administration regarding regulatory overhaul, Icahn has been a long-respected investor on Wall Street. As written onBrittanica.com, the future billionaire started by buying shares in American Real Estate Partners. He eventually took control, using his success to createIcahn Enterprisesin 2004.
His main investing takes place through his publicly traded Icahn Enterprises, but he also has his own investment fund comprising his personal cash and money in Icahn Enterprises, according toForbes.com. Watch the biographyIcahn: The Restless Billionairefor more on the hedge fund manager.
5. David Tepper Net Worth - $16.7 Billion
Nothing motivates a future successful hedge fund manager like rejection.Forbes.com reports that while working as the overseer of Goldman Sachs junk bond desk, he was rejected in favor of another to make partner. This motivated Tepper to leave that job and founded Appaloosa Managementin 1993.
While the firm started in New Jersey, Tepper relocated it to Florida in 2016. The firm typically manages about $13 billion, making it one of the top firms in the world.
Interestingly, Tepper bought and currently owns the NFL’s Carolina Panthers and Charlotte FC in MLS. While this isn’t a hedge fund manager’s typical investment, it’s nice to see that kind of investment in a personal interest.
4. Steve Cohen Net Worth - $17.4 Billion
Cohen spent considerable time working at and running SAC Capital, considered one of the world’s most profitable firms. Unfortunately, it was closed in 2013 after it pled guilty to insider trading charges. The fiasco also had Cohen doling out $1.8 billion in penalties and fees.
As with many hedge fund managers, the bump in the road of SAC Capital wasn’t enough to keep Cohen down for long. He currently supervisesPoint72 Asset Management,a $26 billion firm. He also made headlines when he purchased the New York Mets for $2.4 billion in 2020.
While he does indulge in his own interests, Cohen is also active in philanthropy. He frequently donates to veterans’ causes and children’s health organizations.Forbes.comreports that he has given $1 billion to help charities.
3. Ray Dalio Net Worth - $22 Billion
Ray Dalio establishedBridgewater Associates from his apartment in 1975. Hegraduated from Harvard Business School and went straight to work on building his own firm. As a result, he eventually had the world’s largest hedge fund.
Dalio’s management trademarks aren’t always well-received, but they’ve earned him much respect and money over the years. He’s big on using cause and effect alongside analyzing past performances.
No matter how Ray got to where he is today, it isn’t without notice. He was named one ofTime Magazine’smost influential people in the world in 2012.
2. Kenneth Griffin Net Worth - $27.7 Billion
Ken Griffin did what he had to do to start his career in his Harvard dorm room in 1987. He even set up a satellite dish on the building’s roof to get current stock quotes.
Just a few years later, Griffin foundedCitadel Securitiesin 1990. Citadel is considered to be one of Wall Street’s most successful firms. In fact,Forbes.comstates that the firm can claim ownership over one of every five stock exchanges in the U.S.
Griffin is also a giver when it comes to specific causes around the world. He’s funded rescues and given money to help heal and rebuild communities in at-risk areas.
1. Jim Simons Net Worth - $28.6 Billion
If you hear someone referred to as the “quant king,” they’re referring to the hedge fund manager and mathematician Jim Simons. While he’s not the only one on this list that relies on math and equations to succeed, he’s the closest to the top of the list.
Simons began working as a codebreaker for the NSA throughout the Vietnam War. He’s also been the chair of the math department at Stony Brook University. At his most lucrative career point, he foundedRenaissance Technologiesin 1982. Simons was the CEO and chair of this firm from 1982 through 2010.
Jim Simons also believes in giving to charitable causes. He’s given more than $2.7 million to educational institutions, research, healthcare, and more.
Honorable Mention: Warren Buffett
While not currently a hedge fund manager, Warren Buffet is often credited with starting the first hedge fund. He bought his first stock around the age of 11 and was earning enough to have to file taxes at the age of 13.
According toForbes.com, his net worth was $106 billion as of late winter 2023. He’s also quite a philanthropist and has promised to leave the majority of his wealth to charitable causes. Even though Buffet is no longer actively working as a hedge fund manager, he’s a treasured role model for managers worldwide.
What Makes a Person a Successful Hedge Fund Manager?
Looking at the top hedge fund managers worldwide, you won’t see any clear pattern regarding how they made their way to the top of the list. Some are scientists or mathematicians, while others are just good at their work.
Not just anyone can make it onto a list like this, but there isn’t a tried and true recipe to success. Get to know the market, learn from the best, and then take a leap of faith to make your own mark in the world of hedge fund management.
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