15 hedge fund managers earned $12B last year — thanks to bullish tech stocks

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Just 15 hedge fund managers collectively earned $12 billion last year, fueled by bullish tech stocks like Facebook and Microsoft.

Even more impressive, Bloomberg reports that five of those managers reaped more than $1 billion all by themselves in 2019. While most of the profits go directly to their clients, these top funds generally take 20% ($200 million) for themselves.

Tech stocks connect these top-performing managers. Most of the highest earners Bloomberg analyzed found significant success with investments in Facebook Inc. and China’s Alibaba Group Holdings Ltd.