4 hedge funders earned $10.4 billion
Here’s a great point a reader flagged for me about the top 25 hedge fund managers. If you ignore the bottom 22 and just focus on the top three, it turns out that David Tepper, John Paulson, and Steven Cohen earned a combined $8.2 billion last year.
By contrast the BLS reports that there were 157,800 kindergarten teachers earning an average of $52,840 per year. That comes out to about $8.34 billion. That’s a bit more. Then throw in the #4 hedgie and it looks like James Simons made $2.2 billion. In other words the earnings of just four guys absolutely dwarf the combined salaries of all 157,800 kindergarten teachers.
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