25 highest paid hedge fund managers earned a record $ 32 billion in 2020

The 25 highest paid hedge fund managers made a record $ 32 billion in 2020, more than 50% more than in 2019, according to Institutional Investor’s Rich List.

In total, 15 hedge fund managers made $ 1 billion or more, compared to just eight in 2019. The big gains during the pandemic, coupled with the public debate over hedge funds in the aftermath of the GameStop controversy, are likely to be criticized by lawmakers and the public about hedge fund remuneration and fairness in the financial markets.

The biggest earner was Israeli “Izzy” Englander of Millennium Management, who made $ 3.8 billion. Its flagship fund was up 26% last year, its best return in 20 years. Like many of the top-performing funds last year, Millennium relies more on stock selection than on quantitative strategies using computer algorithms.

In second place is Jim Simons of Renaissance Technologies, who earned $ 2.6 billion. His investors, however, did not fare so well. According to the report, Renaissance Technologies’ top three funds for outside investors fell 20% to 30%. But its Medallion fund, which is primarily for employees, was up 76%. Simons stepped down as chairman on 1 January.

Tiger Global’s Chase Coleman finished in third place with a payday of $ 2.5 billion. The fund was an early investor in technology stocks and foreign companies that did well during the pandemic, giving its fund a 48% return. His partner Scott Shleifer, the head of Tiger’s private equity firm, was in eighth place with $ 1.5 billion. Shleifer just bought the most expensive home ever sold in Florida and paid more than $ 130 million for a newly built Palm Beach mansion.

At the center of the GameStop debate, Citadel’s Ken Griffin came fourth with $ 1.8 billion while his fund was up 24%. Point72 Asset Management’s Steve Cohen was ranked fifth, along with Mets owner David Tepper, both at $ 1.7 billion.