Ray Dalio of Connecticut’s Bridgewater Associates made more money than any other hedge fund manager in 2011, according to a new ranking.
Dalio topped this year’s Absolute Return list of the highest-earning hedgies, taking home $3.9 billion last year, the LA Times reports.
Dalio is the CIO of the firm, which is the largest hedge fund in the world, with $70 billion in assets under management.
Carl Icahn came in second with $2.5 billion, followed by James Simons of Renaissance Technologies, who made $2.1 billion.
Overall, the top 25 hedge fund managers earned 35% less in 2011 than they did the year before, suffering one of the least profitable periods in history, largely due to the European debt crisis.
15 members of last year’s list are missing from this year’s ranking including George Soros and John Paulson.