5. Steven Cohen

Earned: $585 Million

Assets Under Management: $14 Billion

Cohen is the founder of SAC Capital Advisors, hedge fund firm, with emphasis on equity market strategies. The flagship multi-strategy fund of SAC dipped by 8 percent in net returns in the year 2011. However, the various funds under SAC (SAC Capital Management and SAC Capital Partners) helped the company earn a gross return of 16 percent. This was ranked as one among the industry best in hedge fund performances in the year 2011. Currently, the SAC charges 50 percent as its performance fee and has done exceptionally well in discretionary long-short equity. This has helped the firm earn profits mostly from technology, retail and energy sectors.