Marvin Davis Tops List of Wall Street’s Best-Paid Investors
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NEW YORK — Beverly Hills businessman Marvin Davis, who sold his holdings in two takeover-targeted airlines, topped Financial World’s list of Wall Street’s highest-paid financiers for 1989.
The magazine, in its July 10 issue, said the high-flying Davis--who sold off his stakes in NWA Inc., parent of Northwest, and UAL Corp., parent of United--made more money in the stock market--$125 million--than anyone else in the country.
No. 2 on the list of Wall Street’s highest-paid was Bruce Kovern, a secretive futures trader who earned more than $110 million last year by fetching a 50% return for accounts worth more than $900 million at year-end.
Minneapolis investor Irwin Jacobs, third on the list, made more than $100 million from cashing out completely from Shaklee Corp. and CVN, the magazine said.
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