Profits boom at top 20 funds including TCI, Citadel, Viking and Pershing Square thanks to rebound in stock markets
Billionaire hedge fund managers Chris Hohn and Ken Griffin led the industry to record profits last year as bets on the stock market paid off handsomely for clients.
The top 20 hedge fund managers made $67bn (£53bn) in profits for investors in 2023, as the industry made combined profits of $218bn, topping the previous record of $65bn set in 2021.
TCI Fund Management, which is run by British billionaire Hohn, who paid himself $346m last year, topped the list making $12.9bn for clients.
Citadel, founded by the US billionaire Ken Griffin, who has been involved in a bid for the Telegraph newspaper with the co-owner of GB News, ranked second, making $8.1bn.
The patagonia guy “donated” his wealth too – to a nonprofit that is run by and directly benefits his family, avoiding massive amts of taxes. I’m sure Warren will be a good Billionaire, though, even though that’s an oxymoron.
Donations can reduce your taxes, but you always lose more from the donation than you get back in tax breaks.