The rise and decline of the hedge fund billionaires

New York

IN the annals of the immensely wealthy, the hedge fund manager is a relatively new entry. It has been only about a decade since significant numbers of hedge fund managers, including Kenneth Griffin of Citadel, Paul Tudor Jones of Tudor Investment Corp, and Steven Cohen of Point72 Asset Management, began appearing on billionaire rankings.

Hedge fund managers quickly expanded their numbers on these lists. By 2015, they accounted for roughly 8 per cent of the nation's 400 wealthiest people, according to Forbes, which compiles that definitive list each year.