. . . June
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The Forbes 400: Year of the Hedge Funders
By Shira Ovide Deal Journal - WSJ
Forbes’ annual Richie Rich list shows 2010 has been a very good year for hedge-fund titans George Soros and John Paulson
Paulson, who famously earned $4 billion in 2008 betting on the collapse of the housing market, had a net worth of $12.4 billion, ranking 20th on the Forbes list of the 400 richest Americans. That is enough to treat his fellow countrymen to 4.1 billion two-topping pizzas at Domino’s. That’s a lot of cheese.
Soros came in at No. 14, the second-highest-ranked investor on the list (behind Warren Buffett, #2 overall behind Bill Gates). Soros and his $14.2 billion actually are treading water, according to Forbes, which ranked him at No. 15 on its 2009 list of wealthiest Americans.
Overall, this year’s Forbes 400 includes 84 people principally involved in what Forbes calls “Investments,” a list that includes everyone from Buffett (#2 overall) to legally challenged entrepreneur Samuel Wyly (No. 383), with a mere $1 billion as of August. Not a bad showing for an industry supposedly on the decline.
The oldest investor on the Forbes list? That would be John Anderson, 93, who compiled his $2.4 billion fortune through a swath of businesses including auto dealerships, beer distribution and insurance. The youngest investor in the rankings is John Arnold, 36, the former Enron trader who escaped that company’s implosion to start hedge fund Centaurus Energy, and now is worth $3.3 billion by Forbes’s calculation.
Of course Facebook founder Mark Zuckerberg and prolific flop-sweater is much richer — and younger — than Arnold. Zuckerberg actually made news twice today, first by having his Forbes net worth shoot up to $6.9 billion (even richer than Steve Jobs! Well, sort of.) , and then by the disclosure of Zuckerberg’s planned $100 million donation to the Newark, N.J., public school system.
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