The 10 best-paid hedge fund managers earned up to $14 billion in 2007, collectively, making record profits from by predicting the global financial meltdown, Trader Monthly magazine estimates show.
John Paulson and Phil Falcone of Harbinger Capital were the top two earners, with payouts of $3 billion and $1.5-2 billion, respectively. Both made big gains by betting against U.S. sub-prime mortgage securities, but also benefited from activism, including Harbinger's recent deal with the board of The New York Times Co.
Noam Gottesman and Pierre Lagrange of GLG Partners are estimated to have made $700-800 million from unloading part of their stakes in the company during its U.S. listing.
Jim Simons of Renaissance Technologies earned $1.5-2 billion; Steve Cohen of SAC Capital banked $1-1.5 billion, as did Citadel Investment's Ken Griffin. TCI's Chris Hohn was estimated to have earned $800-900 million. Alan Howard of Brevan Howard is believed to have taken home $700-800 million. Finally, Paul Tudor Jones of Tudor Investment likely earned $600-700 million.