It’s also what 15 hedge fund managers collectively earned in 2019.

Five of them-Chris Hohn, Jim Simons, Ken Griffin, Steve Cohen and Chase Coleman-reaped more than $1 billion each, according to estimates by the Bloomberg Billionaires Index.

The rewards for the men-and they’re all men-are notable, especially given only a third of the 15 managers on the list beat the S&P 500 Index’s 29% gain last year. It also comes as the hedge fund industry has been grappling with closures and mediocre returns.

Hedge fund advocates say they’re supposed to profit regardless of whether the market goes up or down and performance shouldn’t only be compared with equity indexes. Still, many were boosted by soaring stocks as central banks, including the Federal Reserve, kept monetary policy loose.

Many of the firms made money betting on the same stocks, typically tech names. More than half those on Bloomberg’s list counted Alibaba Group Holdings and Facebook among their top 10 contributors to equity returns, according to an analysis of regulatory filings.

“If that’s where the opportunity is, it’s where it is,” said Darren Wolf, head of alternative investment strategies for the Americas at Aberdeen Asset Management, which invests in hedge funds on behalf of its clients. “But it creates challenges for us,” he said, because Aberdeen’s clients are already invested in indexes heavily weighted with tech stocks.

Most of the managers on this year’s list charge fees of at least 20% on gains, even as the industry is slashing fees amid pressure from investors disappointed with years of lackluster performance. Representatives for the firms on the list declined to comment.

Marcus Frampton, chief investment officer for Alaska Permanent Fund Corp., said his firm, which oversees $68 billion, is “happy to pay 20% in fees” as long as a manager consistently produces benchmark-beating returns. “That represents skill not market exposure.”

Hohn, 53, topped the rankings after his TCI Fund Management gained 41%. The London-based activist was lifted by concentrated bets on stocks, including Alphabet Inc., Microsoft Corp. and Canadian rail companies.

Griffin, 51, made $1.5 billion through his multistrategy funds. That doesn’t even take into account his market-making operation, Citadel Securities, which generates billions more in revenue.

Simons, 81, features prominently on the list even though he retired from Renaissance Technologies a decade ago. His ownership stake in the firm, which now manages $75 billion — plus his investment in the secretive Medallion Fund — almost guarantees that he’ll continue to be among the highest-paid managers for years to come.

Bridgewater Associates founder Ray Dalio collected $480 million, down from $1.3 billion in 2018, after his flagship fund Pure Alpha II lost money for the first time in two decades. Dalio’s All Weather strategy fared better, gaining almost 17% last year, while he continues to have a sizable ownership interest in the $160 billion Connecticut-based firm.

The list excludes those who no longer manage external capital, such as Michael Platt and Stanley Druckenmiller, but is notable for featuring so many Tiger Management alumni.

These are the so-called Tiger Cubs, who worked for legendary investor Julian Robertson, and Tiger grandcubs. Lone Pine’s Stephen Mandel and Tiger Global’s Coleman each gained more than 30% in their main funds. Andreas Halvorsen of Viking Global returned 18%. His former chief investment officer, Dan Sundheim, returned 22% at his relatively new firm D1 Capital Partners.

“They all had good years because they tend to be net long,” Alaska’s Frampton said of the Tiger complex.

Part of the money raised will be used in its ongoing investment at the Eastern Economic Corridor (EEC).

He added that the company would decide whether to launch the bonds in baht or US dollar.

PTTGC is still looking for merger and acquisition opportunities in the upstream and downstream petrochemical businesses and is in talks with a number of local and foreign companies, he said.

Bezos sold 2 million shares, worth $4.1 billion, as part of a pre-arranged trading plan between Jan. 31 and Feb. 6, according to regulatory filings. That’s the largest seven-day selldown by any executive tracked by the Bloomberg Billionaires Index, which began in 2012.

WhatsApp co-founder Jan Koum sold $4 billion of Facebook Inc. shares in 2016, but that took months. Laurene Powell Jobs divested more than $6 billion of Walt Disney Co. shares in 2016, though it wasn’t part of a trading plan.

For Bezos, it’s a sharp reversal from years of relative restraint even as the value of his Amazon stake eclipsed 12 figures in 2017.

His increased pace of sales this year might be a result of his 2019 split from MacKenzie Bezos. The pair divorced in the state of Washington, where Amazon is based and the couple lived. It’s a community property state, meaning all assets and debt acquired during a marriage “will be divided equitably by the court if the couple cannot negotiate an agreement,” according to the website of McKinley Irvin, a family law firm in the region.

The terms of their divorce – at least those publicly disclosed in stock filings and a single tweet by MacKenzie Bezos in April – show that Jeff Bezos retained 75% of the couple’s stake in Amazon as well as interests in The Washington Post newspaper and rocket company Blue Origin. The pair may have agreed to a cash payment in return for such an uneven split, according to divorce lawyers.

“It’s possible the agreement provided for some cash transfer,” said Peter Walzer, founding partner of law firm Walzer Melcher and a past president of the American Academy of Matrimonial Lawyers. “Cash is king.”

Bezos, 56, has plenty of other expenses. As well as supporting Blue Origin to the tune of $1 billion a year, his lifestyle has become increasingly glamorous. He owns properties on both coasts and 42,000 acres of desert scrub in Texas. He’s been house hunting for a mega-mansion in Los Angeles, according to the New York Post, and has reportedly started making waves in the art world.

Whatever the reason for his sales, the proceeds still make up just a fraction of his wealth. The divestiture amounted to less than 4% of his Amazon holdings, which had a value of $116 billion on Friday.

The coronavirus outbreak has shot that to pieces this year as scores of companies steer clear of Asia’s biggest aerospace and defense gathering. People who did attend limited their interaction to bows or uneasy elbow bumps.

Changi Exhibition Centre near the city-state’s airport is dotted with vacant booths displaying signs from companies apologizing for their absence, while the static display area for aircraft is virtually empty.

Beyond a smattering of deals — Korean Air Lines Co. buying engines from Pratt & Whitney Holdings, PNG Air ordering three ATR turboprops and Japan Airlines signing a service agreement with General Electric – there was little action, with rainy weather adding to the gloom.

Concern about the coronavirus grew as the air show approached and more cases were reported beyond the epicenter in China’s Hubei province. Singapore clamped down on arrivals from China, forbidding people who’d recently been to the country from entering. Confirmed cases of infection in Singapore have climbed to 45, making it one of the worst affected places outside China, where more than 1,000 people have died and nearly 43,000 infected.

At the opening ceremony for the expo late Monday, Singapore’s Deputy Prime Minister Heng Swee Keat said the outbreak cast fresh uncertainty on near-term prospects for the global economy. “With the situation still rapidly evolving, it is difficult to gauge the full impact at present,” he said. “If SARS is a reference point to go by, it will be many months before the situation returns to normal.”

Singapore last week raised its disease response level to the same grade used during the SARS outbreak in 2003 and Prime Minister Lee Hsien Loong said it was a “major test for our nation.” The government urged residents to stop hoarding supplies such as toilet paper and instant noodles.

Organizers of Singapore’s biennial airshow, which attracted more than 54,000 trade attendees in 2018, have advised people to follow a no-contact policy in which they should bow or wave instead of shaking hands. That followed news of several coronavirus cases in Europe being traced to a so-called super-spreader who attended a business meeting at Singapore’s Grand Hyatt hotel last month.

Very few people wore face masks at the airshow Tuesday, heeding the advice on a notice pasted around the halls that said they were only necessary if you are sick. It also told people to cover their mouths if sneezing or coughing.

The handshaking caused some confusion: some attendees extended their hands out of habit and pulled back at the last moment with a nervous laugh. Elbow-bumping appeared to be catching on as a greeting. Organizers also glued sanitizers to desks so they couldn’t be taken away.

The show was deserted even before the scheduled 6 p.m. close, a far cry from previous years when organizers would plead with attendees and reporters to leave. Lights were turned off at several booths and cabs were easily available.

The Singapore Airshow isn’t alone in being affected by the virus.

Intel Corp. and MediaTek Inc. became the latest big names to pull out of Mobile World Congress, the largest annual event for the wireless industry, which is due to start in Barcelona on Feb. 24. Large-scale events in China scheduled for as late as the end of March have been postponed and international art fair Art Basel Hong Kong canceled.

Airbus still played a relatively prominent part at the show in Singapore on Tuesday, unveiling a model of a futuristic blended-wing aircraft named Maveric. Later in the afternoon, Francois Caudron, the Toulouse-based company’s senior vice president of marketing, said it expects to sell 1,000 A321 XLRs in 10 years, the long-range version of the narrow-body A320 family.

Meanwhile, Boeing’s Vice President for Marketing Randy Tinseth said it will take several quarters to get all the 700 or so 737 Max jets grounded around the world flying again, though the company aims to return the model to the skies in mid-2020. Federal Aviation Administration chief Steve Dickson reiterated that there’s no schedule as yet for a Max re-certification flight,

In another interview, jet-engine maker Rolls-Royce Holdings’s president for Southeast Asia, Pacific and South Korea Bicky Bhangu was confident about growth in the region and that the coronavirus would have a short-term impact.