Billionaire quantitative investor Jim Simons death at 86 - UPI

Billionaire mathematician Jim Simons, known for pioneering quantitative trading, dies at 86. His foundation donated billions to research.

On May 10, the world lost a true visionary in the field of mathematics and finance. Jim Simons, a billionaire mathematician who revolutionized quantitative trading, passed away at the age of 86 in New York City. Alongside his wife, Marilyn Simons, he co-founded the Simons Foundation, an organization dedicated to supporting research in various scientific fields.

Simons was a pioneer in using mathematical models and algorithms to inform investment decisions, a practice that was unconventional at the time. While most investors focused on traditional metrics like sales and profit margins, Simons relied on the insights generated by computers to guide his trading strategies. This approach proved to be incredibly successful, with his flagship Medallion Fund earning over $100 billion in trading profits from 1988 to 2018.

In 1978, Simons founded Renaissance Technologies, a quantitative trading hedge fund that became one of the most profitable investment firms in history, surpassing even legendary investors like Warren Buffet and George Soros. His mathematical expertise, honed through years of academic research and teaching, was instrumental in the firm's success.

Beyond his contributions to the financial world, Simons and his wife were philanthropists, establishing the Simons Foundation in 1994. Through their foundation, they donated billions of dollars to support research in areas such as autism, cellular biology, computational science, and cosmology. Simons' impact extended far beyond the realm of finance, with his mathematical breakthroughs contributing to fields like string theory, topology, and condensed matter physics.

Simons' legacy will live on through his family and the countless individuals whose lives he touched through his work and philanthropy. Survived by his wife, three children, five grandchildren, and one great-grandchild, he leaves behind a lasting impact on the worlds of mathematics, finance, and scientific research. Jim Simons may be gone, but his influence will continue to be felt for generations to come.