According to Institutional Investor's Alpha, Cohen was the second highest paid hedge fund manager in 2013, moving up from third highest in 2012. Other things to note:

• David Tepper's lucky charms just won't quit
• The fourth highest paid guy, Jim Simons, is retired
• John Paulson, who didn't crack the Top 10 in 2012, does not need your pity

And while Alpha points out that this will be Cohen's last year on this list, now that Point72 Asset Management née SAC Capital is a family office, don't you worry about the Big Guy. Someone will surely have a "Highest Earning Family Office Managers Of The Year" list up and running come 2015.

The Rich List: The Highest Earning Hedge Fund Managers Of The Past Year [Alpha]

Earlier: David Tepper’s Lucky Brass Balls Worked Overtime In ’12

A gentlemen's agreement between hedge fund titans Steve Cohen and Izzy Englander not to poach employees from each other appears to be over. At least three investment professionals have left Cohen's embattled Stamford, Conn.-based SAC Capital Advisors for Englander's multistrategy shop Millennium Partners in Manhattan in recent months, according to people familiar with the situation. Alexey Chentsov joined Millennium this month as a portfolio manager focused on quantitative investments in foreign exchange and fixed income. Chentsov was a quantitative analyst at SAC from February 2004 to April of this year. And Santiago Falconi, an analyst at SAC with the firm since March 2006, also left recently to be a portfolio manager at Millennium; he will join in January. Both men will work for Andres Anker, a portfolio manager at SAC who left in June for Millennium after nearly 10 years under Cohen, according to people with knowledge of the firm...The moves aren't a major change to either firm but underscore the upheaval SAC faces since running into trouble with regulators.

SAC sees traders bolt as firm's troubles mount [CNBC]
Some SAC Capital investment staff left for rival firm [Reuters]

Ainslie: "It's very important to identify what you values are; make sure everyone understands what you're trying to achieve as a team. Our training week at the beginning of the year starts with an ethics section. We never keep an individuals's P&L- only team P&L, so no one person gets credit or blame for an investment decision, which makes for a very collegial culture and makes people do recognize that they're there to what's in the best interest of our investors.

Dinan: "At the end of the day, we've tried to create a culture that's egalitarian. Myself and the other partners sit on the same desk as everyone else on the firm. We're open, we have no secrets, we discourage people from thinking about 'their business' rather than 'the firm's business.' We promote from within- every partner started as analyst and worked their way up. We don't throw people out when they don't work out we help them find something else. It's not a Darwinian culture. People take a chance to go for the gold because they know we recognize that they're people and not a cog in the wheel.

Englander: "It's very important that there's a common sense for the discipline, a level of simpatico. Unlike Jamie and Lee, everyone does have their own P&L and they're judged on their own. If people want to share their ideas, that's fine, if they don't, that's fine. Though I will say we do about 20-25% in statistical arbitrage- try getting a quant to be collegial."

25. Dan Loeb: $210 million
24. Jamie Dinan: $210 million
23. Louis Bacon $230 million
22. Seth Klarman: $240 million
21. Leon Cooperman: $240 million
20. Andrew Hoine: $250 million
19. Stanley Druckenmiller: $250 million
18. Michael Platt: $270 million
17. David Shaw: $275 million
16. Izzy Englander $375 million
15. Dan Och: $390 million
14. Bill Ackman: $390 million
13. Marc Lasry: $400 million
12. Michael Hintze: $400 million
11. Ken Griffin: $410 million

Related: Highest Paid Hedge Fund Managers Slipped In 2010

In a rare public appearance, he said: “In the old days the management fee was not commonplace. The business was ultimately run for the bottom line P&L. Investors shared in the business cost rather than an arbitrary pre-established management fee.” Englander added that the origin of the hedge fund industry – as entrepreneurial and opportunistic partnerships between managers and investors – is often forgotten and confused. Instead the term "hedge fund" has become defined by the “two and 20” group, referring to the 2% management fee and 20% performance fee that hedge funds typically charge.

“The real problem with the two and 20 structure was that the manager’s incentives changed,” according to Englander. By charging a fixed percentage of assets as a management fee, managers became encouraged to grow their businesses and as a result moved into areas that diversify into other areas beyond the ones they knew.

Englander said: “Name me another industry in the world that has a management fee like this. If a manager has skin in the game, why would he create larger costs that are unnecessary.”

Yada, yada, yada, anyone who charges a management fee has some serious explaining to do. But just one question if we might! Is Englander under the impression that hedge fund clients are being forced to invest against their own will? That managers are driving around town in unmarked vans, wearing ski masks and luring people inside, then drugging them and forcing them to tie up their money and it's only when they come to that they're informed "by the by, we didn't mention this but there will be a 2 percent management fee?"

Millennium’s Englander talks tough on fees [eFinancial via BI]

The decision to cut a portfolio manager is based only upon his or her performance, said a person familiar with Englander's thinking. "If you're not performing, you're gone," he said. "You perform, you stay."

Englander Brushes Aside Millennium Exits [HFA]