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Home Wealth & Lifestyle Billionaire Watch

Meet Jim Simons, the wealthiest hedge fund manager in the world

Michael Ndu-OkekebyMichael Ndu-Okeke
2 years ago
in Billionaire Watch, Spotlight
Meet Jim Simons, the wealthiest hedge fund manager in the world
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Recently, we did a post about George Soros, one of the most successful hedge fund managers in the world. Well, Mr Soros is not the wealthiest hedge fund manager, despite his success in the career path. That title goes to Jim Simons and we are going to take a brief look at who he is, in this article.

Meet Jim Simons

Jim Simons is the founder of Renaissance Technologies, an esteemed quantitative trading hedge fund firm that sits on top of a massive $55 billion fortune. Jim founded his hedge fund, Renaissance Technologies, in 1982. Although he retired in 2010, he still plays a role at Renaissance and benefits from its funds.

Simons has given $2.7 billion to philanthropic causes. His foundation is the primary funder of Math for America. He also supports autism research.

READ: Top 5 women who became billionaires after divorcing their husbands

How do hedge funds make money?

Hedge funds make money by charging a Management Fee and a Performance Fee. While these fees differ by fund, they typically run 2% and 20% of assets under management. This incentive fee motivates the fund to generate excess returns.

In layman’s terms, hedge funds charge a percentage of the assets they manage. Therefore, they are motivated to make a high return on investments as it directly increases their net worth too.

READ: Crypto: Popular Hedge Fund, Grayscale record best quarter ever

Jim Simons’ net worth

According to Forbes, Jim Simmons is worth $24.6 billion .

Jim Simons used to Chair the Math department at Stony Brook University and was a codebreaker for the U.S. during the Vietnam War.

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Tags: Hedge Fund managerJim SimmonsRenaissance Technologies

Comments 1

  1. Anonymous says:
    May 21, 2021 at 11:31 am

    Mike mure

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