Key Takeaways
- • The Simons Foundation announced that co-founder and chair emeritus James Harris "Jim" Simons died on May 10, 2024, in New York City, at the age of 86.
- • Simons founded Renaissance Technologies in 1978, a hedge fund that pioneered quantitative trading and became one of the most profitable investment firms in history.
- • Simons and his wife, Simons Foundation chair Marilyn Simons, gave billions of dollars to hundreds of philanthropic causes, with a focus on math and basic science research and education, following the foundation's establishment in 1994.
- • Simons Foundation president David Spergel said the foundation, which is in perpetuity, will carry the couple's philanthropic vision forward.
Summary
The Simons Foundation announced the death of its co-founder and chair emeritus, James Harris Simons, on May 10, 2024, at age 86 in New York City. Simons, who preferred to be called Jim, was an award-winning mathematician, a leading figure in quantitative investing, and a major philanthropist. Media coverage described him as a "Quant King" and noted that he died on a Friday, according to a statement from the foundation.
Simons described his professional life as having three phases: mathematician, investor and philanthropist. He previously chaired the mathematics department at Stony Brook University in New York, where his mathematical work is now instrumental in fields including string theory, topology and condensed matter physics. In 1978 he founded what became Renaissance Technologies, a hedge fund that pioneered quantitative trading and is considered one of the most profitable investment firms in history.
With his wife, Marilyn Simons, who chairs the foundation's board, he gave billions of dollars to hundreds of philanthropic causes, particularly in math and science research and education. The couple established the Simons Foundation in 1994 to support scientists and organizations worldwide in advancing research in mathematics and the basic sciences. According to the foundation, its work over three decades has contributed to advances in understanding autism, the origins of the universe, cellular biology and computational science. Simons was also known for sponsoring projects important to mathematics and basic science that were unlikely to receive funding elsewhere. He also founded Simons Foundation International and supported Math for America and other efforts.
Foundation president David Spergel said Simons "did transformative work in mathematics and developed a world-leading investment company," adding that the foundation, as an in-perpetuity institution, will carry the couple's vision into the future. Simons is survived by his wife, three children, five grandchildren and a great-grandchild. Information on memorial services will be posted on the foundation's website.
Simons described his professional life as having three phases: mathematician, investor and philanthropist. He previously chaired the mathematics department at Stony Brook University in New York, where his mathematical work is now instrumental in fields including string theory, topology and condensed matter physics. In 1978 he founded what became Renaissance Technologies, a hedge fund that pioneered quantitative trading and is considered one of the most profitable investment firms in history.
With his wife, Marilyn Simons, who chairs the foundation's board, he gave billions of dollars to hundreds of philanthropic causes, particularly in math and science research and education. The couple established the Simons Foundation in 1994 to support scientists and organizations worldwide in advancing research in mathematics and the basic sciences. According to the foundation, its work over three decades has contributed to advances in understanding autism, the origins of the universe, cellular biology and computational science. Simons was also known for sponsoring projects important to mathematics and basic science that were unlikely to receive funding elsewhere. He also founded Simons Foundation International and supported Math for America and other efforts.
Foundation president David Spergel said Simons "did transformative work in mathematics and developed a world-leading investment company," adding that the foundation, as an in-perpetuity institution, will carry the couple's vision into the future. Simons is survived by his wife, three children, five grandchildren and a great-grandchild. Information on memorial services will be posted on the foundation's website.
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