Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Billionaire Hedge Fund Managers Made 50% More In 2013
By
Christopher Robbins
Published May 6, 2014
Modified May 6, 2014
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
Getty
By
Christopher Robbins
Published May 6, 2014
Modified May 6, 2014
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
For all its soaring ambition, Mayor de Blasio's affordable housing plan admits a sobering reality: we have little money to pay for it. $30 billion of the $41 billion used to fund the plan relies rather optimistically on private sources of income and billions more in tax credits for developers from the city. While the City plunges its hands into the couch cushions to house the portion of its 8.5 million residents that aren't plutocrats, the top 20 white, male hedge fund managers made billions of dollars last year moving other rich people's money around in the stock market—50% more than they did in 2012.
Weird! How did this get here? (via you-know-who)
Indeed, the $3.5 billion that David Tepper of Appaloosa Management made last year on fees dwarfs what passed for a top payout in 1992. Per the Times:
George Soros, the investor whose $1 billion bet against the British pound is said to have broken the Bank of England in 1992, was the biggest earner in the survey’s inaugural year, with $700 million in earnings, one-fifth of Mr. Tepper’s paycheck in 2013.
Steven Cohen, the head of SAC Capital, was number 2 on the list with $2.4 billion, but 2013 is the last year he is legally allowed to manage other people's money: the company pled guilty to insider trading last year and paid a $1.2 billion fine. Cohen needn't worry: he still has a ton of priceless art.
And another chart that seemed to make sense here (via you-know-who)
Just because Tepper made the most money doesn't mean that his firm gave its investors the best returns—ha ha this is capitalism! No that distinction goes to Larry Robbins, who made a mere $750 million, but his funds gained 44.3% and 101.7% respectively.
Germane to this blog post? You be the judge! (via you-know-who)
Ray Dalio, who peppers the employee handbook at Bridgewater Associates with cheerful sayings like, "Ask yourself whether you have earned the right to have an opinion," and "When a pack of hyenas takes down a young wildebeest, is this good or bad?" earned just $600 million.
Another one of Dalio's favored sayings is, "There is nothing to fear from truth."
Hmmm (via you-know-who)
Tagged
billionaires
hedge funds
income inequality
tax the rich
Christopher Robbins
Christopher Robbins is a New York City reporter covering transportation, affordable housing, local politics, and criminal justice. His work has also appeared in New York Magazine, The Village Voice and The New York Times. Chris is a graduate of Patrick Henry High School in Roanoke, Virginia, and enjoys biking to Fort Tilden in the summertime.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Tompkins Square Park is getting a makeover. Some say it's too much.
Some regulars at the East Village park want to preserve its not-so-fancy offerings.
By
Willow Higgins
Published Oct 17, 2026 at 7:00 a.m. ET
Deer are all over New Jersey roads looking for sex, state officials warn
Mid-October through mid-December is deer mating season, which can be a danger to drivers as the sex-seeking creatures cross roadways throughout the Garden State.
By
Rosemary Misdary
News
Deer are all over New Jersey roads looking for sex, state officials warn
Mid-October through mid-December is deer mating season, which can be a danger to drivers as the sex-seeking creatures cross roadways throughout the Garden State.
By
Rosemary Misdary
Man messaged 'I got straight poison' before giving NYC college students fentanyl, feds say
By
Samantha Max
Inside the plan to fix the nearly collapsed Pfizer Building, 1/64th of an inch at a time
By
David Brand
School bus carrying autistic students got lost in Brooklyn for 4 hours last year
By
Jessica Gould
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .