03 Jun 2014 Hedge-Fund World's One-Man Wealth Machine ( Portfolio )

Mr. Abrams got his start in 1988 at Baupost Group LLC, also based in Boston. Run by Seth Klarman, Baupost is one of the world's largest hedge-fund firms, with $27 billion under management.

The two remain friends, and Mr. Klarman's personal foundation has put money into Abrams Capital's funds. Mr. Klarman described his protégé as "smart as a whip."