John Paulson, the founder of Paulson & Co. had a crappy year in 2011 with some of his hedge funds losing between 30% and 50%, according to AR Magazine.
Not surprisingly, that means a lower payout for Paulson.
The legendary investor, who famously bet against the subprime housing market in 2007, fell off AR Magazine’s annual so-called “Rich List”, which surveys top-earning hedge fund managers.
It’s the first time since 2007 that Paulson failed to make the rankings. According to AR, Paulson lost $3 billion last year. To provide more context, in 2010 he took home a $4.9 billion payout.