Tuesday, May 6, 2014

David Tepper Makes A Typical CEO's Salary Every Few Days

The annual hedge fund income list was released this week and once again it will take your breath away. There were four hedge fund managers that made over $2 billion in income last year (that's billion with a B), and David Tepper topped the planet at $3.5 billion.


It is fascinating to me that we live in a world where someone who pushes a few key strokes on a computer throughout the year can takes home 3.5 billion dollars. Appaloosa management, Tepper's hedge fund, adds almost no value to society as a whole. He employs a measly 32 employees.

A few weeks ago there was outrage that Google's executive chairman, Eric Schmidt, took home over $100 million in annual pay last year. Google employs over 46,000 people and creates products that arguably benefit the lives of almost everyone on the planet (I feel like I use Google for just about every aspect of my life that involves technology).

I am not trying to say that David Tepper is a bad person. He is extremely charitable, and I enjoy listening to his thoughts on the financial markets when he visits CNBC. Perhaps the $3.5 billion is just a snap shot in time of how ridiculous the world has become, and I commend David Tepper for taking advantage of it.



No comments:

Post a Comment