Reuters - Millennium Management’s Israel Englander earned $3.8 billion last year, landing him the biggest payday of any hedge fund manager in 2020, showed data from Institutional Investor.
Englander more than doubled his $1.5 billion payday in 2019 and made $2 billion more than the previous year’s rich list leaders Chris Hohn and Jim Simons, while making gains of 26% for his investors.
The top 10 hedge fund managers globally earned $20.1 billion in 2020, a 50.2% rise from $13.4 billion in 2019, against the backdrop of volatile markets amid the coronavirus pandemic.
Hedge funds made gains of 11.7% on average in 2020 amid a huge sell-off in March and large economic shutdowns following the emergence of the novel coronavirus, according to data from Hedge Fund Research.
But top 10 averaged returns of 43% in 2020, with Coatue Management making 65%, Renaissance Technologies racking up 76% and Tiger Global Management 48%, the data from Institutional Investor showed.
All of the top 10 hedge fund managers made over $1 billion in 2020, compared with eight in 2019.
Renaissance Technologies’ James Simon earned $2.6 billion last year while Tiger Global Management’s Chase Coleman made $2.5 billion and Citadel’s Ken Griffin landed $1.8 billion.
Pershing Square’s Bill Ackman made up the last spot on the top 10, with a $1.4 billion pay cheque after not featuring on the list in 2019.
$20 Billion? That's it?
Given how much murder these crooks got away with in 2008 wouldn't you figure this number would be 5 or 6 times this amount?
Can you say, underachievers?
This guy Israel Englander doubled up (money wise, not women), rewarding himself twice his 2019 salary of 1.5 Billion. But everybody else really mailed it in.
James Simon, you and your $2.6 Billion are a joke. The government was handing out free money all year to everybody and this was the best you could do?
And Bill Ackman, don't even get me started on you.
$1.4 Billion shouldn't even qualify to be on this list if we're being completely honest. After taxes what is that? Like 600-700 million? Can you even show your face on the Hamptons this summer? Don't even bother coming to Bilderberg this year.
Also rounding out the list is that little weasel from Chicago Ken Griffen.
$1.8 Billion for totally manipulating and invalidating the entire stock market seems a little light in the pockets does it not? If you're going to completely vilify yourself you gotta do it for real money next time.
p.s. - after reading this I immediately thought of Chief's blog on Chamath stating there are 150 big central bankers that run the world. Must be fuckin sweet to make your own rules