Money

Hedge Funds' Big Winners

Wall Street’s well isn’t completely dry: The New York Times reports that, last year, the top 25 hedge fund managers made $11.6 billion. Leading the way was James Simons of Renaissance Technologies, who made $2.5 billion. John Paulson of Paulson & Company was next, with a rake of $2 billion. John D. Arnold, who is in his early 30s, made $1.5 billion, while George Soros made $1.1 billion. Wall Street may want to hold the champagne, however: “In a year when losses were recorded at two of every three hedge funds, pay for many of these managers was down by several million, and the overall pool of earnings was about half the $22.5 billion the top 25 earned in 2007.”