10 Richest People In Finance
When you work in the finance industry, your money is typically made through the management of money, hedge funds, and investments into various things. Not many people are up to the task of ballooning their wealth through savvy money management, but here are 10 of the richest people in finance who did exactly that:
10. Philip Anschutz
Anschutz gathered his $11.3 billion net worth through investments in industries such as real estate and entertainment. In addition to own the NHL Los Angeles Kings and being part Lakers owner, he seeks to build a massive wind farm in the state of Wyoming.
9. David Tepper
Tepper is another self-made billionaire that gained his fortune through hedge fund management. Founding Appaloosa Management in 1993, it granted him the position to manage $15 billion.
His $11.6 billion net worth allowed him to buy the NLF Carolina Panthers for $2.3 billion.
8. Steve Cohen
Cohen made his fortune through hedge fund management with SAC Capital. The company was later for found guilty of insider trading, forcing a shutdown of the firm. He dusted off his shoulders and began acquiring capital through Point72 Asset Management. This helped boost his net worth to $13 billion.
7. Steve Schwartzman
The son of a dry goods store owner, the 71-year-old billionaire attained his fortune through private equity firm Blackstone Group. He founded the company with Pete Peterson in 1985. It is currently the largest private equity firm in the world, managing more than $400 million in assets.
Steve Schwartzman has a net worth of $13.8 billion.
6. Carl Icahn
82-year-old Icahn founded his first investment firm in 1968. This helped him generate enough wealth to hit a net worth of $16.3 billion. The high profile shareholder has invested in such well-known companies as RJR Nabisco, Marvel, Time Warner, and Netflix.
Icahn manages about $8 billion in assets.
5. Abigail Johnson
Johnson inherited her $17.3 billion net when she took over money management firm Fidelity Investments. She acquired the CEO position in 2014, when her father, Ned Johnson III stepped down.
Her share of Fidelity investments, about 24.5%, manages more than $2 trillion.
4. Ray Dalio
69-year-old Ray Dalio amassed his $18.1 billion net worth in hedge fund management through his company Bridgewater associates. The portfolio he manages has a global investment value worth more than $100 billion.
Dalio’s recent focus has been on charity, giving away money and advice through his commitment to the Giving Pledge. His management style provides his employees with complete transparency on how he conducts business.
3. James Simmons
This self-made billionaire amassed his wealth through his hedge fund company Renaissance Technologies. 80-year-old Simmons net worth currently stands at $20 billion. He is known for changing up the hedge fund industry with a special approach.
During the Vietnam War era, James Simmons worked for the United States Department of Defense. He criticized the country’s military involvement in the conflict, causing him to lose his job as a special code breaker.
Renaissance Technologies possesses above $57 billion in assets among various investments.
Simmons has given over $2.7 billion of his personal fortune to charity.
2. Thomas Petterfy
Also hailing from the United States, the 74-year-old Petterfy has a net worth of $20.2 billion. He compiled his wealth by revolutionizing trading with his company Interactive Brokers, established in 1993. Though he took the company public some years later, he made sure to stay majority shareholder.
Petterfy used his expertise in software design and developed a handheld computer to aid in trading. It was the first time such a device had been used for trading on the exchange floor.
He is also an outspoken supporter of President Donald Trump.
1. Warren Buffett
Hailing from the United States, 88-year-old Mr. Buffett has amassed a fortune and his current net worth sits at about $88.3 billion. He began his employment quite young, taking on a paper delivery route at the age of 11.
Through his work as CEO of Berkshire Hathaway INC., Buffett’s company has acquired GEICO, Duracell, Dairy Queen, and Fruit of The Loom, generating the majority of his wealth. Berkshire Hathaway has holdings in many airlines companies as well.
Buffett enrolled in Columbia University after being rejected from Ivy League institute Harvard University.
Although he remains one of the richest people in the country, he teamed up with Bill Gates to conceive the Giving Pledge, an accord where billionaires commit to donating a substantial sum of wealth.