10 Richest Billionaires In Finance
Forbes released its ranking of the world's richest people. Ironic or not, just one billionaire in the top 10 earned their fortune through investments and banking: Warren Buffett.
Here is a look at the top 10 richest people in the field of finance.
10 Richest People In Finance
1. Warren Buffett: Raking number two overall, the "Oracle of Omaha" is worth $75.6 billion. The "Billionaire of Omaha" runs Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), which holds a well-diversified portfolio of companies.
2. George Soros: The second richest financial professional, George Soros is worth $25.2 billion and is most known for his short position in the British pound, which "broke the Bank of England."
3. Joseph Safra: Joseph Safra, a Brazilian banker, is worth $20.5 billion and is the owner of the country's eight largest bank called Banco Safra, which holds a commanding share of high net worth clients.
4. Alwaleed Bin Talal Alsaud: Valued at $18.7 billion, Alwaleed Bin Talal is a prominent member of Saudi Arabia's royal family holds large stakes in many American companies, including Twitter Inc (NYSE: TWTR) and Citigroup Inc (NYSE: C).
5. James Simons: James Simons is a quantitative expert that amassed most of his $18 billion fortune through his hedge fund Renaissance Technologies. In 2016 alone the firm's biggest fund, Renaissance Institutional Equities, returned 21.5 percent net of fees.
6. Ray Dalio: Ray Dalio is worth $16.8 billion and is the founder and co-chief investment officer of Bridgewater Associates, an investment firm, which oversees $160 billion.
7. Carl Icahn: Carl Icahn, one of Wall Street's most notable and feared investors, is worth $16.6 billion and is best known for his activist investing strategy.
8. Abigail Johnson: With a net worth of $14.4 billion, Abigail Johnson is richest woman in the finance world and 75th richest personal overall. She is the president and CEO of Fidelity Investments. In 1988 after graduating from Harvard with an MBA, she joined the firm her grandfather founded.
9. Thomas Peterffy: Valued at $13.8 billion, Thomas Peterffy is a true immigration success story. After arriving penniless from Hungary in 1965, he founded and currently runs the brokerage business Interactive Brokers.
10. Steve Cohen: Rounding out the top 10 list is Steve Cohen who is worth $13 billion. Cohen is considered to be one of the best hedge fund managers in history and now oversees his family office with $11 billion in capital.
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Image Credit: By USA White House - https://www.whitehouse.gov/photos-and-video/video/2011/02/16/2010-presidential-medal-freedom-recipient-warren-buffett, Public Domain, via Wikimedia Commons
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