Veteran investor and billionaire Jim Simons passes away, the company he created is called 'money printing machine'
Jim Simons: Simons was one of Wall Street's most successful investors. His death was confirmed by his spokesman Jonathan Gastalter. Renaissance Technologies created by Jim Simons is considered the world's biggest money-making machine.
At his secure Manhattan residence in New York, billionaire investor, mathematician, and philanthropist Jim Simons passed away on Friday. The age of Simmons was 86. Among the most prosperous investors on Wall Street was he. His representative Jonathan Gastalter confirmed his passing. Considered the world's largest money-making machine, Renaissance Technologies was founded by Jim Simons.
In the Brookline suburb of Boston, Simmons was born on April 25, 1938. Matthew Simons and Marcia Simons had only one child, Jim. He was his father's sales representative for 20th Century Fox in New England.
Simons, who worked as a code breaker for the US government during the Cold War, never revealed the secret of how he managed to create his most famous fund, Medallion, which returned more than four times the S&P 500 index. From 1988 to 2023, the fund delivered average annual returns of nearly 40%, despite paying hefty fees. Due to this return, Simons and his three associates became billionaires.
According to the Bloomberg Billionaires Index, he had an estimated net worth of $31.8 billion. He was the 49th richest person in the world. "Math was the only subject I liked," Simmons said in a 2015 interview for the Numberphile podcast.
