Who is the best-paid person in the world?
Is it overpaid footballer Cristiano Ronaldo?
Hollywood heartthrob Zac Efron?
Goldman Sachs’ CEO Lloyd Blankfein?
Wrong, wrong, wrong!
Meet 53-year-old hedge fund manager David Tepper, of Appaloosa Management. In 2009, David Tepper earnt $4bn, according to the BBC.
I’m not sure whether it’s awe-inspiring or sickening, but it’s a HUGE amount of cash to earn in one year. Four billion dollars a year works out as $11m per day, or $1.2m per hour (based on a 9-hour working day). (Of course, most of this is in his bonus, not salary.)
The BBC piece is eye-opening – £4bn could buy you Montenegro (whose entire economic output is the same as David Tepper’s earnings in 2009); or all of Marvel Comics (including the Spiderman, Iron Man and X-Men franchises, which Disney bought for $4bn in 2009); or the World Cup (Qatar is spending $4bn on building nine new stadiums for the 2022 World Cup); or much, much more (obviously).
Hedge fund rich list 2009 |
||
|---|---|---|
| Hedge fund manager | Hedge fund group | Earnings |
|
Source: AR Magazine |
||
|
David Tepper |
Appaloosa Management |
$4bn (£2.5bn) |
|
George Soros |
Soros Fund Management |
$3.3bn |
|
James Simons |
Renaissance Technologies |
$2.5bn |
|
John Paulson |
Paulson & Co |
$2.3bn |
|
Steve Cohen |
SAC Capital Advisers |
$1.4bn |
|
Carl Icahn |
Icahn Capital |
$1.3bn |
|
Edward Lampert |
ESL Investments |
$1.3bn |
|
Ken Griffin |
Citadel Investment Group |
$900m |
|
John Arnold |
Centaurus Advisors |
$900m |
|
Philip Falcone |
Harbinger Capital Partners |
$825m |
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