Trader Monthly has issued its annual list of the top-earning traders of 2006. Just how much are the biggest earners taking in? Rich Blake, senior editor at Trader Monthly, joined CNBC’s Bill Griffeth on Power Lunch with the first look at the jaw-dropping numbers.
In this elite club of traders, each of the top 100 made $50 million or more last year -- and every one of the top five made at least $1 billion in annual compensation.
“We couldn’t deny that the biggest sums in the business were coming from the hedge fund world,” said Blake. The top earner of 2006 was 33-year-old John Arnold at Centaurus Energy, with an estimated 2006 income of $1.5 billion to $2.0 billion -- the largest sum ever earned by anyone in a single year. Arnold was the winning trader in collapsed fund Amaranth’s natural gas losses.