Paulson Now Richest Alternatives Billionaire

Date: Thursday, March 10, 2011
Author: FINalternatives

Four years ago, he wasn't even a billionaire. But today, John Paulson is the richest alternative investments mogul in the world, according to Forbes magazine's latest roster of global billionaires.

With a net worth of $16 billion—$4 billion more than a year ago—the Paulson & Co. chief displaced George Soros as the richest hedge fund manager this year. Paulson places 39th overall on a list once again topped by Mexican telecommunications billionaire Carlos Slim Helú with $74 billion.

There are 1,210 billionaires in the world today, 109 more than last year. The group has a combined net worth of $4.5 trillion.

No fewer than 65 of those billionaires have ties to the alternative investments industry. And six of them are worth at least 10 figures: In addition to Paulson, the alternatives players with at least $10 billion in assets were Michael Dell, who made his fortune in computers but has expanded into hedge funds, with $14.6 billion, Soros Fund Management's George Soros with $14.5 billion, Icahn Enterprises' Carl Icahn with $12.5 billion,  MacAndrews & Forbes' Ronald Perelman with $12 billion and retired Renaissance Technologies chief James Simons with $10.6 billion.

As would be expected with a list that grew as much as this one, there are a few new faces: Noam Gottesman of GLG Partners comes in with $1.4 billion, Sandell Asset Management founder Thomas Sandell makes the grade this year with $1.1 billion in net worth, and Trian Partners' Nelson Peltz just makes the cut with a bare-minimum $1 billion. And J.W. Henry & Co. founder and Boston Red Sox owner John Henry is back, also at the $1 billion level.

At least one hedge fund manager fell from the list: Maverick Capital Management's Sam Wyly, who capped a year in which he was charged with fraud by losing his status as a billionaire. Another nearly tumbled off the list: The Blackstone Group's Peter Peterson, who saw his net worth halved last year to just $1 billion.

A handful of alternative investments figures saw their bank accounts rise by at least $1 billion, in addition to Paulson. Simons is $2.1 billion richer, Bridgewater Associates' Ray Dalio and Icahn are both $2 billion richer, Steven Cohen is $1.6 billion richer and David Tepper is $1.5 billion richer.

Alternative Investment Billionaires

Source: Forbes magazine