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Wednesday, May 11th, 2016

Top 25 hedge fund managers earned $13bn in 2015 – more than some nations

Author:     Rupert Neate
Source:     The Guardian (U.K.)
Publication Date:     Tuesday 10 May 2016 13.00 EDT
 Link: Top 25 hedge fund managers earned $13bn in 2015 – more than some nations
Stephan:   Twenty five hedge fund managers made more money in one year than the economy of several nations; could there be a better example of income inequality, and what our social priorities are? This is so out of whack, and everytime I read these stories I can't help making an historian's assessment of how this tale of corruption and profit above all will be seen by the future.
Kenneth Griffin

Kenneth Griffin

The world’s top 25 hedge fund managers earned $13bn last year – more than the entire economies of Namibia, the Bahamas or Nicaragua. (emphasis added)

Kenneth Griffin, founder and chief executive of Citadel, and James Simons, founder and chairman of Renaissance Technologies, shared the top spot, taking home $1.7bn each – equivalent to the annual salaries of 112,000 people taking home the US federal minimum wage of $15,080.

The earnings of the best-performing hedge fund managers, published by Institutional Investor’s Alpha magazine on Tuesday, dwarfs the pay of top Wall Street executives who have been under fire for their multimillion-dollar pay deals. The best paid banker last year was JPMorgan Chase CEO Jamie Dimon, who collected $27m.

The huge pay at the top comes despite a tumultuous year on Wall Street that has led many well-known hedge funds to lose billions of dollars and others to close down. Daniel Loeb, CEO of Third Point, a hedge fund that manages […]

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