Almost a quarter of the 400 names on the Forbes list of richest Americans work in investing and finance. Hedge fund titans, private equity stars, money management masterminds and investment gurus all but dominate the list.
At the top of this powerful group is–no surprise–Warren Buffett. The Omaha, NE-native is the 2nd richest person in America with $62.3 billion and 3rd richest in the world.
Buffett’s investment smarts aren’t always about what he buys, but rather what he doesn’t buy. “The difference between successful people and very successful people is that very successful people say “no” to almost everything,” Buffett notes. During Buffett’s 60-plus year investing history, he and Charles Munger have turned down or “passed” on many more ideas than they pursued.
After Buffett, the next richest investors is George Soros. Soros trumps his hedge fund competitors with a net worth standing at $24.5 billion making him the 2nd richest investor, 16th richest America and 29th richest in the world. Forbes reporter Nathan Vardi notes that while Soros no longer runs day-to-day operations he remains involved in the managing of a fortune that was generated during his long and successful run managing his Quantum Fund.” Come 2016 Soros’ son will take over at Soros Fund Management.
Carl Icahn is not far behind Soros–well, that is if you consider $4 billion a small gap. At $21.4 billion, the New York native 3rd richest investor in the U.S., 22nd richest American and 31st richest in the world. Icahn investments usually make headlines but lately he’s been getting attention for his on another headliner. Icahn has hope for Donald Trump, and many of Icahn’s fan have hopes he would be named Treasury Secretary.
Bridgewater founder Ray Dalio runs the world’s largest hedge fund. The firm runs a whopping $155 billion dollars for clients–that’s more than what the federal government will spend on medicare and education in 2015. That makes Dalio the 29th richest American with a net worth of $15.3 billion.
Fidelity’s Abigail Johnson is the only female among the 20 richest American investors. Her grandfather Edward Johnson II founded the company in 1946. Today Johnson’s 24% stake in the money management giant puts her net worth at $14.3 billion. Johnson is the 5th richest investor, 31st richest American and 85th richest in the world.