Spot on predictions in the stock markets rake in billions for the men on our list, but what makes them hold down their cash is their smart investments and perhaps their frugal lifestyles. Below are the 10 richest traders of all time.
Topping our list is renowned American trader Carl Icahn whose net worth sits at $23.2 billion. Carl dropped out of medicine school to pursue a career in the financial world. He started out as a stock broker with Dreyfus Company in 1961. Within seven years, Carl had climbed up the ladder to become one of the ubiquitous personalities in the stock market. Even at 71, Carl still registers as one of the most esteemed traders.
The Hungarian investor stamped his mark as one of the prudent financiers in the world when he broke the bank of England and netted $1 billion in profits. His hedge fund, Soros Fund Management LLC, has also been on an upward climb. With Soros at the realm, the fund has been ranked as the most profitable firm averaging 20% in returns in the last four decades.
According to Forbes, Soros is estimated to have pocketed $4 billion in 2013 with the bulk of his profits stemming from his hedge fund. As of May 2014, the legendary trader’s net worth stood at $23 billion.
Bloomberg has named him one of the 50 Most Influential people thanks to his knack for financial markets. His hedge fund, Bridgewater Associates, takes the lion share with $150 billion in assets under management. Ray has been quite generous in sharing his knowledge on the market cycles by uploading 30 minutes animated videos coined ‘How The Economic Works.’ He is worth $14.4 billion.
When John Paulson first enrolled in The New York University, finance was never in the cards. He studied creative writing and film production, but he later shifted gears when he discovered his passion for business and economics. The smart move has seen him evolve into one of the richest traders with a net worth of $13.5 billion.
James Simons has used numbers to make sharp financial moves and crank up his wealth. He employs mathematical methods to analyze and execute trade, which has been beneficial to him as evidenced by his $12.5 billion net worth. His prowess has not gone unnoticed. In 2008, Simons was named the Financial Engineer of the year by the International Association of Financial Engineers.
Cohen began honing on his financial skills in 1978 when he got a Wall Street job as a junior trader. By late 1980s, he had perfected his trade and would make thousands of profits a day. Flash forward to 2014 and Cohen has cemented his name as one of the world’s eminent traders. In 2011, Forbes estimated his wealth to be $9.3 billion but that has since shot up to $11.1 billion.
Just like all other traders on our list, David Tepper has a hedge fund to his name: Appaloosa Management. 2013 proved to be a good year for Mr. Tepper. His hedge fund smashed the US stock market delivering more than 42 % in returns. The huge profits bumped up his net worth from $7.9 billion in 2013 to $10 billion as of May 2014.
The 43 year old American hedge fund manager cuts as one of the youngest billionaires in the world. He began trading from his dorm room in Harvard University. Through the years, Griffin has continued to sharpen his skills in regards to trading and investing. He is the reigning CEO and founder of Citadel LLC one of the world’s largest hedge funds. He is worth $5.2 billion.
His success as a trader at Commodities Corporation motivated Bruce to establish Caxton Associates in 1983. The fund experienced tremendous growth between 1983 and 2011 averaging 21% in returns each year. Bruce has since retired as the fund manager, but he still rakes in megabucks from the fund. He currently has a net worth of $4.9 billion.
Paul Tudor may come last on our list but make no mistake; he still got his spot in the billionaires club with a net worth of $4.3 billion. His wealth increased immensely when he predicted Black Monday in 1987. His success as a trader has also been bolstered by Tudor Investment Corporation, which has over $2.3 billion in portfolio value.