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Top hedge fund managers earning 'more than some nations'
Top bosses collectively took home £9billions last year, despite some of their funds losing investors' money
The highest-paid executives in the hedge fund industry were last year paid collectively more than the value of “the entire economies of Namibia, the Bahamas or Nicaragua”, reports The Guardian.
According to the annual estimates published by Institutional Investors Alpha, the top 25 executives earned just shy of $13bn (£9bn). The top two, Citadel founder and chief executive Kenneth Griffin and James Simons, the founder and chairman of Renaissance Technologies, each took home $1.7bn (£1.17bn), “equivalent to… 112,000 people taking home the US federal minimum wage of $15,080″.
“Even as regulators push to rein in compensation at Wall Street banks, top hedge fund managers earn more than 50 times what the top executives at banks are paid,” notes the New York Times …. http://www.theweek.co.uk
Source: http://luismmx.blogspot.com/2016/05/top-hedge-fund-managers-earning-more.html
