Yep — John Paulson was the top earning hedge fund manager in 2010, according to AR Magazine.
With huge bets on gold, the man earned $4.9 billion in 2010, which blasted past his record 2007 year, when he made $3.7 billion by shorting the sub-prime mortgage crisis.
The top-earning 25 hedge fund managers on AR‘s annual Rich List earned $22.07 billion altogether last year.
Ray Dalio of Bridgewater came in second place, with $3.1 billion.
Even though Dalio generated better returns than Paulson, he has less of his personal capital in his funds than Paulson, according to AR.
Four others also pocketed more than one billion last year — and you can probably guess who they are: Jim Simons of RenTech ($2.5 billion); David Tepper of Appaloosa ($2.2 billion); Steve Cohen of SAC ($1.3 billion); and Eddie Lampert of ESL ($1.1 billion).
Then came Carl Icahn ($900 million); Bruce Kovner ($640 million); George Soros ($450 million); and Paul Tudor Jones ($440 million).
And to give you some perspective: “In 2001, the combined income of the top hedge fund managers was less than $5 billion—about what Paulson alone made in 2010,” the editor of AR said.