Fund manager is $750m man.George Soros George Soros Born in Budapest, Hungary, in 1930, George Soros is considered by many to be one of the world's greatest investors. A famous hedge fund manager, Soros managed the Quantum Fund, a fund that achieved an average annual return of 30% from 1970-2000. of New York-based Soros Fund Management The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. earned an estimated $750 million in 2003, making him No. 1 in the latest ranking by Institutional Investor's Alpha of the world's most highly paid hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" managers. Junk-bond specialist David Tepper of Chatham, New Jersey-based Appaloosa Management takes second place, earning an estimated $510 million in 2003, followed by James Simons of Renaissance Technologies Corp. in East Setauket, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , who pulled down $500 million. Soros regains the top spot in Alpha's third annual ranking of top hedge fund earners after falling off the list last year, when Bruce Kovner of New York-based Caxton Associates led the pack. This year Kovner ties for fifth place with Steven Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. of SAC Capital Advisors in Stamford, Connecticut. Both earned $350 million in 2003, according to Alpha estimates. They trailed fourth-ranked Edward Lampert of ESL (1) An earlier family of client/server development tools for Windows and OS/2 from Ardent Software (formerly VMARK). It was originally developed by Easel Corporation, which was acquired by VMARK. Investments in Greenwich, Connecticut. who earned $420 million last year by Alpha's reckoning. The wealth being created by hedge fund managers is simply staggering. Never have so few made so much so fast. The lowest earner on Alpha's 2003 ranking took home $65 million in 2003. Seventeen managers pulled down nine figures --$100 million or more--compared with just seven in 2002. The average take-home pay for the top 25 in 2003 was $207 million, nearly double 2002's $110 million. The top ten earners in the hedge fund industry in 2003 were: 1. $750 million George Soros, SOROS FUND MANAGEMENT 2. $510 million David Tepper, APPALOOSA MANAGEMENT 3. $500 million James Simons, RENAISSANCE TECHNOLOGIES CORP. 4. $420 million Edward Lampert, ESL INVESTMENTS 5. $350 million Steven Cohen, SAC CAPITAL ADVISORS 6. $350 million Bruce Kovner, CAXTON ASSOCIATES 7. $300 million Paul Tudor Jones Paul Tudor Jones II (b. Sept 28, 1954, Memphis, Tennessee) is a well-known commodity trader. Having made $750 million in 2006, he is worth an estimated $2.5 billion, and was ranked by Forbes in March 2007 as the 369th richest person in the world. II, TUDOR INVESTMENT CORP. 8. $230 million Kenneth Griffin, CITADEL INVESTMENT GROUP Citadel Investment Group is a $13.4 billion [1] hedge fund based in Chicago, Illinois, founded by billionaire trader Kenneth C. Griffin. It is one of the world's largest hedge funds. 9. $150 million Daniel Och, OCH-ZIFF CAPITAL MANAGEMENT GROUP 10. $145 million Cooperman, OMEGA ADVISORS Hedge fund managers overwhelmingly run private operations and guard their secrecy. Alpha's formula for determining which hedge fund managers earned the most was based on two key factors: Their share of the fees generated by the funds they managed, and their gains on their own capital in the funds. These numbers were arrived at based on knowledge or estimates of the firms' capital at the beginning of the year, their performances, their fee structures and managers' ownership stakes. |
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