LATimes: Top 25 hedge-fund chiefs earn $14 billion...Their pay rose *57%* in '06, a study says

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"NEW YORK — The Masters of the Universe on Wall Street keep getting richer — and that has some people worried.

A report released Tuesday shows that Wall Street's elite are making more money than ever, with the 25 highest-paid hedge-fund managers averaging $570 million in compensation last year. The top three pocketed more than $1 billion each.

But the investment environment that is making these men rich (and yes, the top 25 are all men) is coming at the expense of working Americans in the form of job losses, reduced health benefits and depleted retirement savings, according to a very different study released Tuesday by a labor union..."

"The highest-paid manager on Alpha's list was James Simons, a former Defense Department code breaker who runs Renaissance Technologies Corp. in East Setauket, N.Y. Simons took home an estimated $1.7 billion last year..."

More here:

http://www.latimes.com/business/la-fi-wealth25apr25,0,301233.story?coll=la-home-headlines

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