John Paulson catapulted to fame and fortune in 2007, raking in an astonishing $3.7 billion when his firm, Paulson & Co., succesfully bet against the subprime real estate market. Paulson & Co. posted triple-digit gains following the prescient bets; the firm’s Paulson Credit Opportunities Fund gained 590 percent for the year, while Paulson Credit Opportunities II, created in January 2007, rose 352 percent. Firm capital skyrocketed from $4 billion to $28 billion in the same period. Three years later, John Paulson hit the jackpot again, personally earning $4.9 billion — and setting a record for Alpha’s Rich List — thanks to lucrative gold investments. Paulson was one of few people that hit it big following the collapse of the financial market, while the majority of Americans, hedge funds included, suffered losses. But Paulson’s hot streak didn’t last…
