Jim Simons, the legendary hedge-fund manager who cracked the market, dead at 86 (2024)

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What happened to Jim Simons wealth? ›

At the time of his death, Simons was worth some $31 billion, according to Forbes. In 1994, Simons and Marilyn, who has a Ph. D. in economics from Stony Brook, established the Simons Foundation to give some of their fortune away.

Death. Simons died of lung cancer in New York City on May 10, 2024, at age 86, surrounded by his family. He was active in the work of his foundation until the end of his life.

He stepped back from leading Renaissance in 2010, and he and Marilyn have given more than $6 billion away via their foundation, making them the sixth-most philanthropic givers in America, according to Forbes.

With a net worth estimated at $31 billion by Forbes, Simons also became a prominent philanthropist, giving away billions of dollars during his lifetime to support medical and science research, teaching and Democratic candidates. "Churchill said 'great and good are seldom the same man.

Jim Simons has about 250 iq points. He may seem like a normal(ish) person, but h... | Hacker News.

'Quant King' Jim Simons was a math and investing genius, but also a management wiz.

Jim Simons is a renowned mathematician and investor. Known as the "Quant King," he incorporated the use of quantitative analysis into his investment strategy.

How did Simons and the crew of academics who ran Renaissance's Medallion Fund produce more than $100 billion in gains and average annual returns of 39% between 1988 and 2018? Those numbers came after the firm's enormous investor fees.

The fund has been closed to outside investors since 1993 and is available only to current and past employees and their families. The firm bought out the last investor in the Medallion fund in 2005 and the investor community has not seen its returns since then.

Simons holds a BSc. degree in Mathematics from the Massachusetts Institute of Technology and a PhD in Mathematics from the University of California at Berkeley. His scientific research was in the area of geometry and topology.

How did Jim Simons become a billionaire? ›

A mathematics Ph. D., Simons worked as a codebreaker during the Vietnam War and chaired the math department at Stony Brook University in the 1960s and 70s. He founded Renaissance Technologies in 1982 and grew it into a hedge fund giant, famous for its Medallion Fund.

Legendary investor Jim Simons ran one of the most successful hedge funds in history, achieving a staggering 66% in average annual gross returns (before fees are subtracted) and 39.2% average annual net returns (after fees are subtracted).

In 1978, at the age of 40, Simons astonished his colleagues by quitting academia to try his hand at trading. He started an investment firm in a dreary Long Island strip mall, next to a women's clothing boutique and two doors from a pizza joint.

By the time he retired as chief executive of the business in 2010, Mr. Simons was worth $11 billion (almost $16 billion in today's currency), and a decade later his fortune had doubled.

As one of the largest charitable organizations in the United States with assets of over $5 billion in 2022, the foundation's mission is to advance the frontiers of research in mathematics and basic sciences.

He is the founder of Renaissance Technologies, a renowned quantitative hedge fund, and is well-known for pioneering quantitative investing by utilizing mathematical models to exploit market inefficiencies. Simons is often described as the greatest investor on Wall Street and has an estimated net worth of $29.4 billion.