No. 12 -- John Arnold, Centaurus Advisors
NET WORTH: $3.3 billion
Arnold, who made his early fortune in Enron trading bonuses and turned those into one of the most successful hedge funds in the U.S., is one of five hedge fund managers on the list.
Arnold is not only among the richest Americans, but among the youngest billionaires on the annual Forbes ranking at the age of 36.Sometimes referred to as the king of natural gas, Arnold's energy trading is arguably most famous for reportedly being on the other side of the trade that sank Amaranth Advisors. Arnold also bought 10% of National Coal in 2008. Arnold's summary of his big-hearted plans reads as could only be written by a trader, particularly points 2 and 3: "We focus on areas where (1) philanthropic investments can lead to solutions that are self-sustaining in the long-term, (2) we can leverage a relatively small investment to create a large impact on total societal benefit and (3) the market does not presently yield optimal results, due to inefficiencies, lack of adequate information or other reasons." Among notable absences on the Buffet/Gates list at a much higher income level than Arnold are the ninth-richest Americans as ranked by Forbes -- the Brothers Koch, Charles and David, who run one of the largest private companies in the U.S., Koch Industries -- along with the two executives who tied for No. 11. Go and Google the Buffett/Gates list you'll see that neither Sergey Brin nor Larry Page, Google's (GOOG) founders, with fortunes over $15 billion each, are among the initial billionaire pledges lined up by Buffett and Gates. Of course, some wealthy don't wish to turn charity into an occasion for personal publicity, while others might prefer to manage their own philanthropic affairs and on their own schedules, apart from a nudge provided by Gates and Buffett. That's the case with many notable U.S. billionaires not taking the Buffett/Gates pledge.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV