Former Apple exec takes charge of the world’s biggest hedge fund

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Photo: AllThingsD
Jon Rubinstein was one of Steve Jobs' most trusted lieutenants.
Photo: AllThingsD

With its massive on-hand cash pile, Apple could easily be mistaken for a bank disguised as a tech firm. Modern hedge funds, on the other hand, are increasingly tech firms disguised as banks.

Which is one reason it kind of makes sense why one of Steve Jobs’ most trusted former lieutenants, ex-Apple exec Jon Rubinstein, has just been announced as the new co-CEO of Bridgewater Associates, the world’s largest hedge fund — with a massive $169 billion in assets.

That’s an amount that would even make Apple sit up and pay attention!

Big investors think Apple could hit $1 trillion market cap in 2015

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You know what's cool? A new kind of social network. Photo: Columbia Pictures
Apple could be set for a trillion dollar valuation in 2015. Now that's cool. Photo: Columbia Pictures

“A million dollars isn’t cool,” says Justin Timberlake’s Sean Parker during one scene in The Social Network. “You know what’s cool? A billion dollars.”

If that’s the case, then people are going to need to come up with new words to describe Apple, because according to some of Wall Street’s best and brightest, the company could hit a trillion dollar valuation as early as next year.