Alts. Kingpins Crowd Forbes 400

Oct 2 2009 | 3:13am ET

Despite the crisis that struck the hedge fund industry last year, alternative investments titans remain well-represented on Forbes magazine’s list of the richest Americans.

Fifty-one members of this year’s Forbes 400 are involved in the alternative investment industry. Hedge fund and private equity billionaires are even better represented in the top 100, with 17 entrants.

Of course, a lot of them lost money, many of them a lot of money. But so did they other Forbes 400ers, who lost a combined $300 billion over the past 12 months. It’s only the fifth time in more than 25 years that the richest people in the U.S. actually lost money.

George Soros is America’s richest hedgie, appearing in 15th place with $13 billion. Buyout kingpin Carl Icahn finished in 22nd place with $10.5 billion, followed by Ronald Perelman in 23rd place with $10 billion. Also in the top 50 were Renaissance Technologies’ James Simons ($8.5 billion), John Paulson ($6.8 billion), SAC Capital Advisors’ Steven Cohen ($6.4 billion) and The Blackstone Group’s Steven Schwarzman.

Of course, given the wretchedness of the past year for many a hedgie, not all were able to hold on to their coveted spots on the list. Clarium Capital Management’s Peter Thiel dropped off after just a year among the 400. Private equity honcho J. Christopher Flowers was also de-listed. And then there is R. Allen Stanford, the accused hedge fund fraudster, whose allegedly illusory wealth also disappeared, as did he from the Forbes 400.

Hedge Fund and Private Equity Executives
on the Forbes 400 List of Wealthiest Americans

rank billionaire firm net worth
15 George Soros Soros Fund Management $13 billion
22 Carl Icahn Icahn Enterprises $10.5 billion
23 Ronald Perelman MacAndrews & Forbes $10 billion
29 James Simons Renaissance Technologies $8.5 billion
33 John Paulson Paulson & Co. $6.8 billion
36 Steven Cohen SAC Capital Advisors $6.4 billion
50 Stephen Schwarzman The Blackstone Group $4.7 billion
65 Ray Dalio Bridgewater Associates $4 billion
65 Daniel Ziff Och-Ziff Capital Management $4 billion
65 Dirk Ziff Och-Ziff Capital Management $4 billion
65 Robert Ziff Och-Ziff Capital Management $4 billion
77 Henry Kravis Kohlberg Kravis Roberts $3.8 billion
77 Samuel Zell Equity Group Investments $3.8 billion
85 Stanley Druckenmiller Duquesne Capital Management $3.5 billion
85 Bruce Kovner Caxton Associates $3.5 billion
85 George Roberts Kohlberg Kravis Roberts $3.5 billion
91 John Arnold Centaurus Energy $3.4 billion
97 David Tepper Appaloosa Management $3 billion
110 Paul Tudor Jones Tudor Investment Corp. $2.9 billion
113 Daniel Och Och-Ziff Capital Management $2.8 billion
123 William Conway The Carlyle Group $2.5 billion
123 Daniel D'Aniello The Carlyle Group $2.5 billion
123 Edward Lampert ESL Investments $2.5 billion
123 David Rubenstein The Carlyle Group $2.5 billion
123 David Shaw D.E. Shaw Group $2.5 billion
147 Tom Gores Platinum Equity $2.2 billion
147 Julian Robertson Tiger Management $2.2 billion
158 Leon Black Apollo Management $2 billion
158 Philip Falcone Harbinger Capital Management $2 billion
158 Kenneth Griffin Citadel Investment Group $2 billion
158 Peter Peterson The Blackstone Group $2 billion
196 Wilbur Ross W.L. Ross & Co. $1.8 billion
204 David Bonderman Texas Pacific Group $1.7 billion
204 Israel Englander Millenium Partners $1.7 billion
220 Alec Gores Gores Technology Group $1.6 billion
236 Louis Bacon Moore Capital Management $1.5 billion
236 Stephen Mandel Lone Pine Capital $1.5 billion
236 Raj Rajaratnam Galleon Group $1.5 billion
277 James Coulter Texas Pacific Group $1.4 billion
277 Jonathan Nelson Providence Equity Partners $1.4 billion
289 Marc Lasry Avenue Capital Management $1.35 billion
296 Richard Chilton Chilton Investment Co. $1.3 billion
296 Glenn Dubin Highbridge Capital Management $1.3 billion
317 Thomas Lee Lee Equity Partners $1.25 billion
326 James Dinan York Capital $1.2 billion
341 Leon Cooperman Omega Advisors $1.15 billion
347 Thomas Barrack Colony Capital $1.1 billion
347 Theodore Forstmann Forstmann Little $1.1 billion
347 Henry Swicea Highbridge Capital Management $1.1 billion
366 Hamilton James The Blackstone Group $1.1 billion
371 Thomas Hicks Hicks Muse Tate & Furst $1 billion

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