Despite the tough economic market last year, several hedge fund managers pocketed more than $1 billion apiece in 2012.
New Jersey-based Appaloosa Management founder David Tepper topped Institutional Investor’s 12th annual Rich List, taking home $2.2 billion and is one of four hedge fund managers who earned over $1 billion in 2012. He is joined by Bridgewater Associates’ Ray Dalio who came in at No. 2, with $1.7 billion.
SAC Capital Advisors' Steven Cohen is third, taking home $1.4 billion last year. Rounding out the billionaire list is Renaissance Technologies' James Simons with $1.1 billion.
The 25 hedge fund managers on the list earned a total of $14.14 billion in 2012 and is the lowest combined earning from the demographic since 2008.
Other industry professionals who made the list include Citadel’s Ken Griffin, Omega Advisors’ Leon Cooperman and ESL Investments’ Edward Lampert.