Make Kitco Your Homepage

World's top 10 hedge fund managers earn $20.1 billion in 2020

Kitco News

NEW YORK (Reuters) - Millennium Management’s Israel Englander earned $3.8 billion last year, landing him the biggest payday of any hedge fund manager in 2020, showed data from Institutional Investor.

Englander more than doubled his $1.5 billion payday in 2019 and made $2 billion more than the previous year’s rich list leaders Chris Hohn and Jim Simons, while making gains of 26% for his investors.

The top 10 hedge fund managers globally earned $20.1 billion in 2020, a 50.2% rise from $13.4 billion in 2019, against the backdrop of volatile markets amid the coronavirus pandemic.

Hedge funds made gains of 11.7% on average in 2020 amid a huge sell-off in March and large economic shutdowns following the emergence of the novel coronavirus, according to data from Hedge Fund Research.

But top 10 averaged returns of 43% in 2020, with Coatue Management making 65%, Renaissance Technologies racking up 76% and Tiger Global Management 48%, the data from Institutional Investor showed.

All of the top 10 hedge fund managers made over $1 billion in 2020, compared with eight in 2019.

Renaissance Technologies’ James Simon earned $2.6 billion last year while Tiger Global Management’s Chase Coleman made $2.5 billion and Citadel’s Ken Griffin landed $1.8 billion.

Pershing Square’s Bill Ackman made up the last spot on the top 10, with a $1.4 billion pay cheque after not featuring on the list in 2019.

Reporting by Maiya Keidan; Editing by Steve Orlofsky

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.