Renaissance Technologies Founder James Simons Tops Institutional Investor’s Rich List Ranking of the World’s Highest-Earning Hedge Fund Managers (GlobeNewswire)
NEW YORK, May 30, 2018 (GLOBE NEWSWIRE) — James Simons, founder and chairman of Renaissance Technologies, took home $1.7 billion in 2017 to claim the No. 1 spot on the 17th edition of the Rich List, Institutional Investor’s annual ranking of the world’s top-earning hedge fund managers. Simons leads the ranking for a third consecutive year and is the only individual to qualify for the Rich List every year it has been produced. Appaloosa Management’s David Tepper ($1.5 billion), Citadel’s Kenneth Griffin ($1.4 billion), and Bridgewater Associates’ Raymond Dalio ($1.3 billion) follow Simons, making a total of four managers to earn upward of $1 billion in 2017. Millennium Management’s Israel (Izzy) Englander rounds out the top five, taking in $975 million last year.
Billionaire Ray Dalio: You Need to Quit These 2 Bad Habits to Succeed (CNBC)
As the founder of the world’s largest hedge fund, Ray Dalio is successful by any standard. He took his company, Bridgewater Associates, from an operation running out of his two-bedroom New York apartment and turned it into a firm managing about $160 billion in assets – making him a billionaire along the way. To succeed like he did, there are two bad habits you need to nip in the bud, Dalio says in “Principles for Success,” an animated video series based on his book “Principles: Life & Work.”
Uniper Supervisory Board Rejects Calls for Elliott-Backed Audit (Reuters)
FRANKFURT (Reuters) – Uniper’s (UN01.DE) supervisory board on Wednesday urged shareholders to reject a motion by activist investor Elliott to launch a probe into whether management sought to block the sale of a major stake to Fortum (FORTUM.HE), in a deal it opposes. The proposal, filed by Elliott-backed Cornwall Luxembourg S.a.r.l. earlier this month, has become a headache for Uniper boss Klaus Schaefer ahead of the group’s annual general meeting on June 6, as it could pave the way for a lengthy investigation. Schaefer has repeatedly argued against a planned deal that will see former parent E.ON (EONGn.DE) selling its remaining 46.65 percent stake in Uniper to Finland’s Fortum, calling it hostile and questioning the offer’s strategic merit.
Four Hedge Fund Managers Top $1 Billion in Pay as the Industry Rebounds (CNBC)
Four hedge fund managers joined the 10-figure club last year, making more than $1 billion as the industry showed signs of a rebound. Indeed, the 25 highest-paid hedge fund managers last year made the most money they have in four years, collectively $15.38 billion, according to Institutional Investor, which has ranked managers by annual earnings for the last 17 years. That works out to an average of $615 million per manager, an increase of 40 percent from the previous year. It took $225 million just to make it into the most recent ranking, up from $130 million in 2016 and $135 million in 2015.