Billionaire Investor Jim Simons, Pioneer of Quantitative Investing, Dies at 88

Hedge Fund Manager Revolutionized the Financial World with Mathematical Models

Founder of Renaissance Technologies and Creator of Medallion Fund Was One of the World's Richest People

New York, May 10, 2024 - Jim Simons, the trailblazing investor, mathematician, and philanthropist, passed away on Friday in New York City at the age of 88, according to his foundation. Simons was renowned for his groundbreaking work in quantitative investing, transforming the financial world into a realm of science and data.

As the founder of Renaissance Technologies, Simons established the 29 billion Renaissance Institutional Equities Fund, which enjoyed unparalleled success until the market downturn of August 2007. His innovative use of computer models to buy and sell stocks set a new standard for investment strategies, earning him vast wealth and industry acclaim.

Simons' impact extended beyond the financial sector. He devoted a substantial portion of his fortune to philanthropy, establishing the Simons Foundation, which supports research in mathematics, physics, and autism research. His legacy as a visionary investor and a generous benefactor will undoubtedly endure.