Highest Paid Hedge Fund Managers Earned More than $1B Each in 2015

The biggest hedge fund managers brought in billions of dollars in 2015, according to Institutional Investor. The highest paid was Ken Griffin, founder of Citadel, who earned $1.7 billion. James Simons, founder and CEO of Renaissance Technologies also brought in $1.7 billion. Third on the list was Ray Dalio of Bridgewater Associates, who earned $1.4 billion. David Tepper of Appaloosa Management also raked in $1.4 billion. Finally, Israel Englander, founder of Millennium Management, was paid $1.2 billion. The top 25 hedge fund managers earned $13 billion. The sky high earnings are no surprise, as hedge fund managers make money even when the markets go south. That's because managers typically receive a 2 percent commission of all assets under management, with incentives for investments that flourish. TheStreet's Scott Gamm reports from Wall Street.