Alan Howard, cofounder of London hedge fund giant Brevan Howard Asset Management, has appeared for the first time on the annual
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
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.