Steve Cohen has claimed the top spot in Bloomberg’s annual ranking of the world’s best-paid hedge fund managers, earning an estimated $3.4bn in 2025 from strong performance at his  firm Point72 Asset Management, according to a report by Bloomberg.

The payday places Cohen ahead of industry heavyweights including David Tepper and Izzy Englander, who ranked second and third with earnings of $3.2bn and $3.1bn respectively, according to Bloomberg calculations. For the first time since the rankings began, Cohen also edged out long-time rival Ken Griffin, who earned an estimated $2.4bn and placed fifth.

Cohen’s haul follows a strong year for Point72, which posted gains of about 17.5% in 2025 and now manages roughly $45.7bn in assets. The Stamford-based firm has expanded rapidly in recent years, adding offices globally, growing headcount to around 3,000 and broadening its platform across equities, macro, quantitative strategies and private credit.

The ranking underscores a banner year for the hedge fund industry, with volatile equity markets driving the strongest collective performance since 2009. Bloomberg estimates that the top 20 hedge fund managers earned an average of $1.4bn last year, the highest level in five years, with total earnings across the group reaching $28.3bn.

While Cohen endured a disappointing 2025 season as owner of the New York Mets, his financial performance firmly established him as hedge fund’s top earner, highlighting the scale and profitability of the largest multi-strategy platforms in the current market environment.