Hedge fund manager Daniel Och took home $484.8 million in 2007, largely caused by the result of the successful flotation of Och-Ziff Capital Management, the Daily Telegraph reported. His massive payout contrasts with the plight of hedge fund veteran John Meriwether, who is letting investors exit his global macro fund after the $300 million portfolio lost 14 per cent this year, according to Reuters, quoting unnamed sources. Mr Och, meanwhile, has enjoyed considerable success. He is a former Goldman Sachs trader who founded Och-Ziff 14 years ago with the financial backing of the Ziff Brothers. Och-Ziff floated on the New York Stock Exchange in November, at which point its directors agreed to leave their money in the firm's various funds for five years. However, according to Security and Exchange Commission filings, at that point the hedge fund management company borrowed $750 million to distribute to its directors, including a $349.7 million payment to Mr Och as part of the loan distribution. He also earned $30.6 million in management fees and $104.4 million in a second payout tied to his $1 billion equity stake in the firm.