Bernie Sanders and Elizabeth Warren want to take wealth away from rich corporate tycoons. But wait! Top entertainers and other celebrities make even more than corporate tycoons. Taylor Swift makes much more than even the most outrageously paid CEO – some $170 million in 2016, followed by the band One Direction and various athletes, authors, and TV personalities in that year. But wait! Unknown to most Americans, the top earners by far (and it’s not even close) are the publicity-shy handful of hedge fund managers at the very top of that category. Ken Griffin at Citadel and James Simons at Renaissance Technologies are roughly tied at over $1.7 billion (that’s billion with a b) just for the single year 2016 (the last year for which complete information is available). The graphic below, courtesy of Institutional Investor magazine, shows the stunning comparisons.
Hedge Funds an entirely different class
| December 03, 2019