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Falcone is the senior managing director of Harbinger Capital Partners, a hedge fund with $20 billion under management. His fund was one of the few to profit during the global credit crisis—he walked away with $1.7 billion in 2007. He's now spending his winnings: Phil and his ever-social wife, Lisa, paid $49 million for the Guccione mansion on the Upper East Side in March 2008.