Forbes has put together another hedge fund richest managers and traders.
The world’s billionaires club now includes 40 hedge fund billionaires who have profited by making big trades in financial markets and charging their investors high fees. Their fortunes have grown as they compounded these winnings over many years. It’s a rich model that can produce earnings in excess of $1 billion a year for the most successful hedge fund billionaires.
Carl Icahn, 77-year-old investor (pictured right) has been trading markets for decades, but his net worth really soared in recent months and has now reached $20 billion. The investment pool he manages for himself and his employees returned 28% in 2012, thanks to bets on Hain Celestial Group and CVR Energy. Separately, shares of his Icahn Enterprises, which invests in rail cars, retail, gaming, and energy, surged at the start of 2013. Icahn, who was born in Brooklyn and grew up in Queens, returned his hedge fund’s outside money in 2011. He started 2013 by locking horns with hedge fund trader Bill Ackman over Herbalife, the nutritional supplement seller. Icahn took a big position in the company after taking on Ackman in a verbal slugfest on CNBC.
The estimated net worth of perhaps the most legendary hedge fund manager, George Soros, is now $19.2 billion. At 82, Soros remains chairman of Soros Fund Management, the $24 billion firm that manages his personal fortune as well as the money belonging to his foundations. He is not overseeing day-to-day operations, but Soros remains involved. The firm’s recent successful bet against the yen was a classic Soros move. His firm returned the relatively little client money it managed in 2011. The firm’s performance trailed the U.S. stock market in 2012, but was firmly in positive territory, thanks partly to a big bet against the yen. Born in Budapest, Soros survived the Nazi occupation of Hungary and went on to study at the London School of Economics before launching storied hedge fund firm Quantum Fund Management in 1969.