Hedge Funds

How Tom Steyer Made His Fortune

by axios.com posted 1year ago 46 views
The state of play: In general, there are two ways to become a billionaire hedge-fund manager. The first is to be a pirate — raid the Bank of England, bet on a housing collapse, that kind of thing. The returns on those bets can be so enormous, you can make billions even off a relatively small asset base. Between the lines: Steyer was the kind of hedge-fund billionaire who was quieter, and didn't make big audacious bets. But he was able to promise conservative institutional investors predictably good returns, in both bull and bear markets.

In this article