Hedge fund manager in line for $2.5bn payday
Tuesday, December 22, 2009 : PermalinkTimes Online – David Tepper, who runs the US hedge fund Appaloosa Management, is in line for a profit share of around $2.5 billion (£1.5 billion) this year after betting heavily on a recovery in the stocks of banks including Citigroup and Bank of America.
Appaloosa has made about $7 billion profit so far this year, according to the Wall Street Journal, with Mr Tepper set to gain about $2.5 billion of this, one of the biggest personal annual pay rewards of recent years.
