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In 2009, Tepper's hedge-fund earned about $7 billion by buying distressed financial stocks in February and March (including Bank of America common stock at $3 per share), and then profiting from their recovery that year.[13] A total of $4 billion of those profits went to Tepper's personal wealth, making him the top-earning hedge fund manager of 2009 according to The New York Times.[14] In June 2011, he was awarded the Institutional Hedge Fund Firm of the Year.[15] In 2013 Forbes ranked him as top hedge-fund earner of 2012, moving him up to the 166th wealthiest person in the world.[1]
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