The Rise and Decline of the Hedge Fund Billionaire


Clockwise from top left: William A. Ackman of Pershing Square Capital Management; David Einhorn of Greenlight Capital; Marc Lasry of Avenue Capital Group and owner of the Milwaukee Bucks; and Nelson Peltz, of Trian Fund Management.CreditClockwise from top left: Drew Angerer for The New York Times; Mike Segar/Reuters; David A. Grogan/NBCU Photo Bank via Getty Images; Jonathan Alcorn/Bloomberg

In the annals of the immensely wealthy, the hedge fund manager is a relatively new entry. It has been only about a decade since significant numbers of hedge fund managers, including Kenneth C. Griffin of Citadel, Paul Tudor Jones of Tudor Investment Corporation and Steven A. Cohen of Point72 Asset Management, began appearing on billionaire rankings.

Hedge fund managers quickly expanded their numbers on these lists. By 2015, they accounted for roughly 8 percent of the nation’s 400 wealthiest people, according to Forbes, which compiles that definitive list each year…

The Rise and Decline of the Hedge Fund Billionaire

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