Worst Performing Hedge Fund Managers - 2008

Alpha released its 8 worst performing hedge fund managers for 2008, ranked by loss in personal wealth. Atop the list was Ken Griffin of Citadel Investment Group. Other notables include Steve Cohen of SAC Capital, Carl Icahn, and T. Boone Pickens Jr.

Combined, the eight hedge fund managers on Alpha's list lost an astounding $6.2 billion in 2008. For comparison, they earned a combined $3 billion in 2007.

Here are the 8, ranked by personal wealth lost in their hedge funds:

Ken Griffin, Citadel Investment Group

• 2008 - ($2 billion)
• 2007 - + $1.5 billion

Edward Lampert, ESL Partners

• 2008 - ($1 billion)
• 2007 - + $1.1 billion

Steve Cohen, SAC Capital Advisors

• 2008 - ($750 million)
• 2007 - + 950 million

Jeffrey Gendell, Tontine Partners

• 2008 - ($625 million)
• 2007 - + 190 million

Stephen Mandell Jr., Lone Pine Capital

• 2008 - ($550 million)
• 2007 - + 710 million

T. Boone Pickens Jr., BP Capital Management

• 2008 - ($450 million)
• 2007 - + 370 million

David Tepper, Appaloosa Management

• 2008 - ($425 million)
• 2007 - + 350 million

Carl Icahn, Icahn Enterprises

• 2008 - ($400 million)
• 2007 - + 300 million

Top 10 Highest Earning Hedge Fund Managers

Top 10 Highest Earning Hedge Fund Managers in 2007

1. John Paulson (Paulson & Co.)- 2007 Earnings: $3 billion
2. Philip Falcone (Harbinger Capital Partners)- 2007 Earnings:$2 billion
3. Jim Simons (Rennaissance Technologies)- 2007 Earnings: $1 billion
4. Steven Cohen (SAC Capital Partners)- 2007 Earnings: $1 billion
5. Ken Griffin (Citadel Investment Group)- 2007 Earnings: $ 1 billion
6. Chris Hohn (The Children's Investment Fund Management)- 2007 Earnings: $800 million
7.Noam Gottesman(GLG Partners)- 2007 Earnings: $700 million
8. Alan Howard (Brevan Howard Asset Management)- 2007 Earnings: $700 million
9. Pierre Lagrange (GLG Partners)- 2007 Earnings: $700 million
10. Paul Tudor Jones (Tudor Investment Corp.) $700 million