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Image header Agence Europe
Europe Daily Bulletin No. 11032
Contents Publication in full By article 28 / 31
BUSINESS NEWS NO 95 / (ae) finance

Concentration of wealth in hedge funds. According to the Forbes annual list, the 25 best-paid hedge fund managers earned $24.3 billion in 2013, twice as much as in 2008 ($11.6 billion), the year the economic crisis began. On average, they earned $1 billion but with significant variations ranging from $4 billion for Georges Soros to $280 million for Chase Coleman. This concentration of wealth is very marked compared to the past two years. In 2012, the 40 best-paid hedge fund managers earned $16.7 billion and they earned $13.2 the previous year. The 2013 list is mainly dominated by experienced US managers and no woman is included in this list. In first place is George Soros (Soros Fund Management), with earnings of $4 billion, followed by David Tepper (Appaloosa Management; $3.5 billion) and Steve Cohen (SAC Capital Advisors; $2.3 billion). The highest ranked non-US citizen is the British financier Christopher Hohn (18th), the founder of The Children's Investment Fund Management. (IL)

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EXTERNAL ACTION
ECONOMY - FINANCE - BUSINESS
INSTITUTIONAL
SECTORAL POLICIES
BUSINESS NEWS NO 95