A new 2017 Forbes list of World’s Richest Hedge Fund Billionaires places George Soros in pole position. According to the excerpt published on March 20, 2017 Soros leads the rankings with an estimated net worth of about $25 billion. His investment portfolio, Soros Fund Management (SFM) oversees assets to the tune of $30 billion. The fund is managed by Dawn Fitzpatrick, one of the most prominent women CEO’s on Wall Street. The hedge fund billionaire was one among 45 hedge fund billionaires listed by the magazine. The other prominent names in the list include James Simons, Ray Dalio, Steve Cohen and David Tepper. James Simons is the brain behind Renaissance Technologies. Although he retired from the hedge fund in 2010, Renaissance Institutional Equities continue to post solid gains, growing by 21.5% in 2016.
Renaissance Institutional Equities currently manages wealth estimated at $36 billion, with Simon’s net worth standing at $18 billion. Steve Cohen, whose net worth was estimated at $13 billion, oversees Point 72 Asset Management. The fund was initially went by the name CAS Capital. Ray Dalio is best-known as the founder of the largest hedge fund in the world, Bridgewater Associates that manages assets worth $160 billion. The others hedge funds managed by Dalio include All Weather Fund and Pure Alpha hedge fund, which have all been performing modestly in recent year. Dalio’s net worth was estimated at $16.8 billion. David Tepper’s Appaloosa Management today manages $17 billion worth of assets. The former trader at Goldman Sachs, now based in Miami, Florida has a net worth of approximately $11 billion.
Outside his hedge fund and everyday trading engagements, George Soros is deeply involved in philanthropy. He saw it right to establish the Open Society Foundations in the early 80’s to assist countries, making a transition from communism. According to the Opensocietyfoundadations.org, Soros the organization’s mission is to build vibrant and tolerant societies with inclusive and accountable governments. OSF and its constituent organizations operate several offices and outposts around the world. These include the Open Society Foundation office in London, New York and Washington, DC and the Open Society Institute in Budapest, Hungary.
Over the last three decades, OFS has had expenditures estimated at over $13 billion. In 2014, the Foundations expenditure stood at about $820 million. A lot of this money has gone into priority issues and regions that the organization strongly cares about like democratic development in Eastern European countries and public health issues such as TB and HIV. The other areas priority includes defending human rights, fighting discrimination and advancement of Roma communities, education projects and promoting reforms in the US. The focus areas in US reforms include equal rights, criminal justice, palliative care, democratic governance and drugs.