Special Report

What the Richest 25 Hedge Fund Managers Made in 2020

In the early months of the Covid-19 pandemic, the hedge fund industry was struggling to eke out gains, but by the end of 2020, they had managed on average to pull themselves out of the red for the year.

A fund-weighted composite index by research firm HFR, which measures the performance in the hedge fund industry, showed an 11.6% return for 2020, led by funds focused on energy and basic materials, which gained 33%, followed by technology- and health care-focused funds, which grew almost 28% and 26%, respectively. By comparison, stocks in the Standard & Poor’s 500 index gained about 18% with dividends reinvested, according to Institutional Investor.

To learn how much the richest hedge fund managers made in 2020, 24/7 Wall St. reviewed the “The Richest Hedge Fund Managers On The 2020 Forbes 400 List,” released by Forbes in September 2020. Hedge fund manager wealth is for the first half of 2020. To determine the net worths of hedge fund managers and traders, Forbes examined hedge fund returns as well as the fee and ownership structure of a wide array of money management firms to estimate earnings and cash growth, and also counted other assets owned by hedge fund managers, such as private jets, yachts, and art collections.

The top 25 billionaires of the hedge fund industry — a list that includes familiar names like Ray Dalio, Steve Cohen, and George Soros — managed to grow their wealth by an estimated $3.8 billion, to nearly $186 billion, by the first half of 2020, compared to the same period in 2019. Individually, however, it was a mixed bag. Here are the 30 richest Americans of all time.

A dozen of these hedge fund titans experienced increases in their net worths by an average of nearly a billion dollars by the first half of 2020, led by Ken Griffin of Chicago-based hedge fund Citadel, who became $2.3 billion richer. Seven of these billionaires lost a total of nearly $14 billion in wealth in the same period of time, with combative activist shareholder Carl Icahn losing $3.6 billion in wealth. Here’s a list of the richest person in every state.

Click here to see what the richest 25 hedge fund managers made in 2020.

Six billionaires on this list, including Soros, saw no change in their net worth. There can be different reasons for this, often involving moving wealth into private family foundations to build philanthropic legacies. Some of these men are older and retired, or they’ve stopped managing other people’s money. Here’s the latest list of the 25 richest hedge fund managers.