"Ten years ago, when the hedge fund industry was much smaller than it is today, it took 25 hedge fund managers to earn a combined annual payday of $5 billion. Last year, it took only one."
For a bonus gem, here's Leon Cooperman of Omega Advisors on what he plans to do with his extraordinary wealth (driven by signing up to the Gates' 'Giving Pledge'):
“I’m very, very philanthropic toward Columbia, which opened the door to Wall Street for me,” said Mr. Cooperman. “I’m trying to give money away to the kinds of things that touched me during my lifetime.”
Ah, redistribution of his billions towards things that matter...to him and his lifestyle. Tastes like progress.
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