The year the pandemic threw tens of millions of Americans out of work was extraordinarily good for the bank accounts of the wealthiest hedge fund managers.
The top 25 hedge fund bosses made $32 billion, according to Institutional Investor’s annual Rich List. The list was published Monday.
The top earner was Izzy Englander of Millennium Management, who took home an estimated $3.8 billion in 2020. His flagship fund achieved a 26 percent return. The prior year he was number six on the list with $750 million and the year before that he was in fifth place at $975 million.
There were far more billion-dollar hedge fund paydays than in years past. This year all of the top ten made over $1 billion, The 10th place spot taken by Bill Ackman, whose Pershing Square Management earned a 70 percent return and who was paid an estimated $1.4 billion.
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The year before only Ray