James Simons Net Worth

James Harris Simons Net Worth

Real Name: James Harris Simons
Date of Birth: 01/01/1938
Place of Birth: Newton, Massachusetts

2019 Net Worth: $12.5 Billion
2018 Earnings: $2.5 Billion

Profession: Founder and CEO of Renaissance Technologies

James Simons Biography

James Simons was born the only child of Jewish parents and raised in Brookline, Massachusetts. His father owned his own shoe factory. He attended Massachusetts Institute of Technology and received a bachelor’s degree in mathematics. Three years later he received a PhD from the University of California at Berkeley.

He worked as a research staffer at the Institute for Defense Analyses immediately after graduation. In 1964, Simons worked with the National Security Agency to break codes. Later, he was hired to teach math at both Harvard University and Massachusetts Institute of Technology. He finally decided to join the faculty at Stony Brook University in New York and was appointed chairman of the math department. By 1978, however, he decided to leave his teaching career to manage hedge funds.

Simons established Renaissance Technologies, a hedge fund management company. He designed his company so that it employs mathematical models to analyze and execute mostly automated trades.. Renaissance uses computer-based models that are very accurate in predicting price changes in easily traded financial instruments.  Today the company has more than $23 billion in assets under management.

In 2006 Simons was named Financial Engineer of the Year by the International Association of Financial Engineers. He was named the World’s Smartest Billionaire by the Financial Times the same year. By 2006, Simons was earning $1.7 billion annually. In 2007 he earned $2.8 billion.

Simons is ranked as the 3rd richest billionaire in the world. Renaissance Technologies is based in New York and is considered the most successful hedge fund in the world. Simons was the CEO of his company until his partial retirement in 2009.

With a current net worth of $12.5 billion, Simons is intensely private and rarely gives interviews. In his leisure time, Simons loves to spend time on his private yacht named ‘Archimedes’. His earnings this year is expected to surpass last year’s earnings of $2.5 billion.

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