25 highest paid hedge fund managers earned $ 32 billion by 2020

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

A total of 15 hedge fund managers earned $ 1 billion or more, compared to just eight in 2019. The huge gains during the pandemic, coupled with the public debate over hedge funds in the wake of the GameStop controversy, are likely to provoke criticism from lawmakers. and the public on hedge fund payment and equity in financial markets.

The biggest earner was Israel “Izzy” Englander of Millennium Management and earned $ 3.8 billion. Its flagship fund rose 26% last year, which was its best return in 20 years. Like many of the best funds last year, Millennium relies more on equities than on quantitative strategies using computer algorithms.

In second place is Jim Simons of Renaissance Technologies, which earned $ 2.6 billion. However, its investors did not fare so well. According to the report, Renaissance Technologies’ three main funds for outside investors fell by 20% to 30%. But its Medallion fund, which is primarily for employees, has risen 76%. Simons retired as chairman on January 1st.

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

Ken Griffin of Citadel, who is at the center of the GameStop debate, took fourth place, with $ 1.8 billion, as his fund rose 24%. Steve Cohen of Point72 Asset Management, which owns the Mets, tied for fifth place, along with David Tepper, both at $ 1.7 billion.

Correction: An earlier version of this story incorrectly attributed Mets ownership.