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15 hedge fund managers earned $12B last year — thanks to bullish tech stocks

Just 15 hedge fund managers collectively earned $12 billion last year, fueled by bullish tech stocks like Facebook and Microsoft. Even more impressive, Bloomberg reports that five of those managers reaped more than $1 billion all by themselves in 2019. While most of the profits go directly to their clients, these top funds generally take 20% ($200 million) for themselves. Tech stocks connect these top-performing managers. Most of the highest earners Bloomberg analyzed found significant success with investments in Facebook Inc. and China’s Alibaba Group Holdings Ltd. The top performing fund manager, Chris Hohn, reportedly backed Google’s parent company Alphabet Inc. and Microsoft to…

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