Hedge fund managers banking billions in worst economy in 60 years.
1. John Paulson, Paulson & Co. ($3.7 billion)
2. George Soros, Soros Fund Management ($2.9 billion)
3. James Simons, Renaissance Technologies Corp. ($2.8 billion)
4. Philip Falcone , Harbinger Capital Partners ($1.7 billion)
5. Kenneth Griffin, Citadel Investment Group ($1.5 billion)
6. Steven Cohen , SAC Capital Advisors ($900 million)
7. Timothy Barakett, Atticus Capital ($750 million)
8. Stephen Mandel Jr., Lone Pine Capital ($ 710 million)
9. John Griffin, Blue Ridge Capital ($625 million)
10. O. Andreas Halvorsen, Viking Global Investors ($520 million)
http://nymag.com/daily/intel/2008/04/hedge_fund_billionaires_are_ju.html
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The professional fund managers of these hedge funds and private equity firms are allowed to treat a substantial portion of their compensation as capital gains, meaning they are most likely taxed at 15% rather than the 35% rate that applies to ordinary income such as wages and salary.
ReplyDeletehttp://www.epi.org/publications/entry/pm120/
Tax Loop Holes?
ReplyDeleteTop Ten Fund Managers earn $16+ Billion.
That's only $4 Billion in lost Revenues.
Maybe they could start balancing the Budget?