The 25 chief executives of global financial heavyweights pocketed a total of 25.33 billion dollars (18.6 billion euros), doubling their earnings from 2008, according to a ranking by industry magazine AR Absolute Return+Alpha.

“The world may still be coming out of the Great Recession, but for the richest hedge fund managers, 2009 was the best year ever. And it couldn’t have happened without the carnage of 2008,” the magazine said.

Seven hedge fund managers broke the one-billion-dollar mark last year, while the last one on the top-25 list made 350 million dollars.

Appaloosa Management chief David Tepper, who bet on the recovery of banks and the debt of bailed-out US insurer AIG, earned the biggest payouts with four billion dollars in 2009, a record for the sector.

“We bet on the country?s revival,” Tepper told the New York Times, describing his trading te

 
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