American investor Jim Simons dies at 86

“Investing legend and generous philanthropist,” Renaissance Technologies hedge fund founder Jim Simons has died at the age of 86. This was announced by the charity organization he founded.

“It is with deep sadness that the Simons Foundation announces the death of its co-founder and Chairman Emeritus, James Harris Simons, on May 10, 2024, at the age of 86, in New York City,” the statement said.

It notes that Jim Simons was an award-winning mathematician, “an investing legend, and an inspirational and generous philanthropist.”

Simons created the investment company Renaissance Technologies in 1982, he used a mathematical algorithm to trade on the stock exchange.

“Jim was an exceptional leader who did groundbreaking work in mathematics and built a leading investment firm,” said Simons Foundation President David Spergel.

In 1994, the billionaire founded the Simons Foundation, which helps scientists and organizations around the world. He has “donated billions of dollars to philanthropy,” especially supporting math and science research and education.