Profits boom at top 20 funds including TCI, Citadel, Viking and Pershing Square thanks to rebound in stock markets

Profits boom at top 20 funds including TCI, Citadel, Viking and Pershing Square thanks to rebound in stock markets

Billionaire hedge fund managers Chris Hohn and Ken Griffin led the industry to record profits last year as bets on the stock market paid off handsomely for clients.

The top 20 hedge fund managers made $67bn (£53bn) in profits for investors in 2023, as the industry made combined profits of $218bn, topping the previous record of $65bn set in 2021.

TCI Fund Management, which is run by British billionaire Hohn, who paid himself $346m last year, topped the list making $12.9bn for clients.

Citadel, founded by the US billionaire Ken Griffin, who has been involved in a bid for the Telegraph newspaper with the co-owner of GB News, ranked second, making $8.1bn.

    • FlowVoid@lemmy.worldEnglish
      71·
      10 months ago

      Buffett has already donated the majority of his wealth, otherwise he would be wealthier than Musk.

      He also announced that whatever is left when he dies will be donated as well, and publicly challenges other billionaires to do the same.

      • naught@sh.itjust.works
        2·
        10 months ago

        The patagonia guy “donated” his wealth too – to a nonprofit that is run by and directly benefits his family, avoiding massive amts of taxes. I’m sure Warren will be a good Billionaire, though, even though that’s an oxymoron.

        • FlowVoid@lemmy.worldEnglish
          12·
          10 months ago

          Donations can reduce your taxes, but you always lose more from the donation than you get back in tax breaks.

    • madcaesar@lemmy.world
      52·
      10 months ago

      There’s levels to everything. I’d say Bezos, Devos, Koch, Waltons are far far worse and have done massive damage to our country.

      • afraid_of_zombies@lemmy.world
        2·
        10 months ago

        Every year or so I get an order at work from Koch. They suck so very hard at engineering but they have so much money. It took me a while to notice it but every “engineer” I worked with over there was super good at giving you the impression that they knew what they were doing but didn’t infact know. Their paperwork looks great, they talk a great talk And that is where it ends.

        Just in case this insight is useful to you since you rightfully hate Koch.