Izzy Englander, the 77-year-old Chief Executive Officer of Millennium Management, emerged as the highest-earning hedge fund founder in 2024, making almost $4bn for the year, according to Bloomberg’s annual rankings of the world's top hedge fund earners.

The Brooklyn-born billionaire’s earnings came primarily from $2.4bn in investment gains and $1.4bn in fund performance fees.

Englander, whose firm oversees $75.8bn in assets, retained his top position for the second consecutive year, edging out Citadel’s Ken Griffin, who earned $3.2bn.

Steve Cohen, owner of the New York Mets and head of Point72 Asset Management, secured third place with $3bn in earnings.