Alan Howard, cofounder of London hedge fund giant Brevan
Howard Asset Management, has appeared for the first time on the
Forbes World’s Billionaires list thanks to an
estimated personal wealth of $1.8 billion. The 46-year-old Brit
was tied with twenty six others, including distressed investor
Wilbur Ross, Jr and publishing heir William Randolph Hearst
III, as the world’s
556th richest person.
Howard has twice appeared on the AR Rich List, which measures
hedge fund manager compensation. In
2008, Howard was estimated to have earned $245 million and
$250 million, respectively. He launched Brevan Howard in 2002
with four other Credit Suisse veterans. The London macro firm
has gone from strength to strength and now manages around $28
billion. Its main fund returned nearly 18% last year and boasts
an annualized return of more than 14% since inception. Howard
was not available to comment.
Other high-profile hedge fund managers appearing in the list
include George Soros (ranked 35th with $14 billion to his
name); John Paulson (45th with $12 billion); Carl Icahn (59th
with $10.5 billion); James Simons (80th with $8.5 billion);
Steve Cohen (113th with $6.4 billion); and Ken Griffin (488th
with $2 billion).
Legendary investor Warren Buffett was placed third in the list,
with a fortune of $47 billion. He drops from second last year,
while Bill Gates (with $53 billion) has been nudged into second
place. Taking the top spot from Gates is Mexican telecoms mogul
Carlos Slim, with an estimated $53.5 billion.