Although the market took a hit in 2022, hedge fund managers still saw billions of dollars in personal earnings.
Citadel CEO Ken Griffin had a particularly monumental year; he raked in a staggering $4.1 billion — topping Institutional Investor‘s 22nd annual “Rich List,” which ranks the 25 highest-earning hedge fund managers based on a combination of fee earnings and gains on their personal capital.
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Griffin is an American hedge fund manager, entrepreneur and investor who is the founder, CEO, co-chief investment officer and 80% owner of multinational hedge fund Citadel LLC, founded in 1990. His estimated net worth is $36.6 billion, per the Bloomberg Billionaires Index.
In total, the top 25 hedge fund managers on the list made $21.5 billion in 2022 (the third-highest amount next to 2020 and 2021). The median manager pulled in $570 million while the seven highest earners saw at least $1 billion.
Griffin’s $4.1 billion takes the record for the most any hedge fund manager has ever earned in a year since the “Rich List” began.
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Israel (Izzy) Englander of Millennium Management and Steven Cohen of Point72 Asset Management rounded out the list’s top three with $3.2 billion and $1.9 billion in earnings, respectively.