Jim Simons
Jim Simons was a renowned American mathematician, hedge fund manager, and philanthropist who passed away on May 10, 2024 at the age of 86. He was the founder of Renaissance Technologies, a quantitative hedge fund known for its highly successful Medallion Fund.
Simons was a pioneer in applying quantitative analysis and pattern recognition to financial markets. He assembled a team of mathematicians, statisticians, and scientists to develop sophisticated trading algorithms that generated exceptional returns for the Medallion Fund, averaging nearly 40% annually from 1988 to 2023.
Prior to his investing career, Simons worked as a codebreaker for the National Security Agency during the Vietnam War. He held academic positions at MIT, Harvard, and Stony Brook University, where he served as chair of the mathematics department.
With an estimated net worth of $31.8 billion in 2024, Simons was one of the wealthiest people in the world. He was a major philanthropist, donating billions through the Simons Foundation to support scientific research, education, and autism research.