The globe's 25 top-earning
Nearly half of these hedgies posted only single-digit returns for their investors in 2016, "a lackluster sum in a year when the Standard & Poor's 500-stock index was up 12 percent, accounting for reinvested dividends," writes The New York Times. The top two earners — James Simons, founder of Renaissance Technologies, and Ray Dalio, founder of Bridgewater Associates — netted $1.6 billion and $1.4 billion, respectively.
The list is determined according to estimates of each manager's percentage of their firm's management and performance fees, and also considers their own investments in the fund.
The industry has posted nearly a decade of disappointing returns: Billionaire Daniel S. Loeb has called this phase a "catastrophic period" for hedge funds, while billionaire investor Warren Buffett has been justified in betting that, over 10 years, low-cost index funds would outperform hedge funds.