April 16 (Bloomberg) -- John Paulson, founder of New York- based Paulson & Co., was paid an estimated $3.7 billion last year, the most in the hedge fund industry, according to Institutional Investor's Alpha Magazine.
Paulson, 52, surpassed George Soros and last year's winner James Simons in a ranking of the 50 highest-paid hedge fund managers. Soros ranked second, earning about $2.9 billion. Simons was third, making an estimated $2.8 billion last year.
The average compensation of the top 25 fund managers was $892 million, up 68 percent from last year. The minimum compensation included in the ranking was $210 million, Alpha reported.
Paulson & Co., which oversees about $28 billion, made money in the collapse of subprime mortgages in 2007. The investment firm earned about $2.7 billion in fees in the first nine months of 2007, betting against subprime-mortgage bonds as more borrowers fell behind on monthly payments.
Paulson was a partner at New York-based investment firm Gruss Partners and a former managing director at Bear Stearns Cos. He has a master's degree in business from Harvard Business School.
Top 10 moneymakers in the hedge-fund industry in 2007:
1 $3.7 billion, John Paulson, Paulson & Co.
2 $2.9 billion, George Soros, Soros Fund Management
3 $2.8 billion, James Simons, Renaissance Technologies Corp.
4 $1.7 billion, Philip Falcone, Harbinger Capital Partners
5 $1.5 billion, Kenneth Griffin, Citadel Investment Group
6 $900 million, Steven Cohen, SAC Capital Advisors
7 $750 million, Timothy Barakett, Atticus Capital
8 $710 million, Stephen Mandel Jr., Lone Pine Capital
9 $625 million, John Griffin, Blue Ridge Capital
10 $520 million, Andreas Halvorsen, Viking Global Investors
Paulson's $3.7 Billion Pay Tops Hedge Fund Managers, Alpha Says
Thursday, April 17, 2008
Top CEO's pay no match against traders and fund managers
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