Times may be tough for most folks, but not for the top moneymakers on Alpha magazine’s eighth annual ranking of the world’s highest-earning hedge fund managers. They took home, on average, an anything but average $464 million apiece in 2008. Four hedge fund managers took home more than $1 billion each. Altogether the 25 highest-earning hedge fund managers made $11.6 billion, making 2008 the third-best year on record since Alpha began compiling its exclusive ranking.

Alpha uses two components to calculate earnings: the managers’ shares of their firm’s performance and management fees, as well as gains on their own capital invested in their funds.

Rank Name Firm Name 2008 Earnings
1 James Simons Renaissance Technologies Corp. $2.5 billion
2 John Paulson Paulson & Co. $2 billion
3 John Arnold Centaurus Energy $1.5 billion
4 George Soros Soros Fund Management $1.1 billion
5 Raymond Dalio Bridgewater Associates $780 million
6 Bruce Kovner Caxton Associates $640 million
7 David Shaw D.E. Shaw & Co. $275 million
8 Stanley Druckenmiller Duquesne Capital Management $260 million
9 (tie) David Harding Winton Capital Management $250 million
9 (tie) Alan Howard Brevan Howard Asset Management $250 million
9 (tie) John Taylor Jr. FX Concepts $250 million


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