While much of the country is gripped with lottery fever as the Mega-Millions jackpot continues to climb, the world's hedge fund managers are having a collective chuckle at that cute little $500 million prize....
In 2011, despite most money mangers failing to deliver decent returns, the top 25 hedge-fund managers took home $14.4 billion. That's an average of $576 million each, for those of you keeping track at home.
AR Magazine has detailed the richest of the rich in their annual Rich List, and Ray Dalio of Bridgewater Associates took home top honors. The hedge fund titan banked $3.9 billion.
Previous hedge fund kingpin John Paulson dropped off the list for the first time since 2007, as Paulson and Co. lost between 30% to 50% last year. But don't cry for him, in 2010 he cashed in a record $4.9 billion.
Here's a roundup of the top five richest hedge fund managers:
1. Raymond Dalio (Bridgewater Associates) $3.9 billion
2. Carl Icahn (Icahn Capital Management) $2.5 billion
3. James Simons (Renaissance Technologies Corp.) $2.1 billion
4. Kenneth Griffin (Citadel) $700 million
5. Steven Cohen (SAC Capital Advisors)$585 million
You can read the top 25 here.
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