Simons Ranks No. 30 on Forbes Richest Americans List

East Setauket billionaire was also No. 30 on the list in 2010.

Jim Simons' net worth swelled to $10.6 billion – up from $8.7 billion in September of 2010 – and he retained his position as the No. 30 richest person in America on the Forbes 400 list, released earlier this week.

Simons, who lives in East Setauket, started hedge fund firm Renaissance Technologies in 1982 and retired in 2009. Renaissance Technologies is worth $15 billion, according to Forbes.

In 2009, when his net worth was $8.5 billion, he was No. 29 on last year's list. He was No. 41 in 2008, when his net worth amounted to $7.4 million.

Faiza Akhtar September 24, 2011 at 06:52 AM
As average americans lost their investments, most hedge funds ended up mystically finding it for themselves. So is this ranking any surprise? The only time Simons will be newsworthy to me is when he decides to give back to his own community and support our childrens' future by investing in their education by fully endowing some programs with his BILLIONS. In all my 14 years of living here, I have yet to see this man fully support any educational intitiative in our district, yet he's one of the first to complain about how America doesn't produce enough math geniuses for his quant-fund so he must recruit internationally. I have seen low income single parent households dedicate more towards giving back to this community than the man who can make a big difference just with the flick of a finger.
Marianne Klepacki September 24, 2011 at 01:47 PM
Mr. Simons has donated more than 100 million dollars to Stony Brook University. The Three Village School District Partners with Stony Brook University to provide wonderful programs that my children attended when they were younger. http://www.threevillagecsd.org/our_district/stony_brook_university_partnership One example on this site: Kids and Teens: This area includes, but is not limited to, information on dance and music activities for elementary students, the Latin Quiz Bowl program, Science Exploration and Sports Camps, HS WISE (Women in Science and Engineering) program, Long Island Science and Engineering Fair (LISEF), Pre-College Music Program, Simons Summer Research Fellowship, and the ever-popular Young Scholars Program. Simons also funded the Avalon Park & Preserve next to the duck pond in Stony Brook Harbor, in memory of his son Paul who died at age 34, bicycle riding. He was hit by a car. It is a wonderful park that the residents of theThree Village community very much enjoy. Mr. Simons started Math for America, for improving math education in America. This is a video interview of Mr. Simons and the story of the program he created: http://www.pbs.org/wnet/need-to-know/culture/math-for-america’s-jim-simons-and-his-secret-to-improving-math-education/8682/ Mr. Simons has donated funds in other areas, too. I think Mr. Simons is very thoughtful about his areas of philanthropy. Visit Stony Brook Village and take a walk in Avalon Park.
Faiza Akhtar September 24, 2011 at 02:54 PM
Ms. Klepacki, The programs you are referring to for our children cost extra and require extra transport to the University - they are enrichment classes for those parents who can afford it, who have the time to transport, and who can get their child enrolled. But most people these days are financially struggling just to make ends meet thanks to the unregulated world of hedge funds where Mr. Simons has the political buying clout to have those in power look the other way as he financially rapes the average joe and doesn't have to pay a fair share in taxes either. As for Math in America, I was involved when Mr. Simons was "kind" enough to offer the program to 1 out of our 5 elementary schools, putting 3V between a rock and hard place as to which school to choose from, therefore forcing the late Mr. Carasiti and the board to refuse the opportunity. Today, we had to PUCHASE math curriculum from McGraw Hill to meet core competency standards even though we have a math "philanthropist" who created a math curriculum living in our own community. As for for Avalon btw, yeah thanks. But my concerns are bigger than parks. They are about the future of this country, our children, and holding those that put us in this financial demise accountable to give back! I am glad you applaud the 30th richest man has donated over $100 million here when his current financial net worth is over $10 billion, but I still applaud the people who give without taking from Americans ANYTIME!
Marianne Klepacki September 24, 2011 at 04:20 PM
It took a long time for Mr. Simons to get where he is: http://myinvestorsplace.com/2011/07/09/the-success-of-jim-simmons/ I would not group Mr. Simons with the whole hedge fund industry, as most people relate it to the mortgage crisis. Mr. Simons concerns are for the whole country and that is why he and Math for America members, support America Competes—a bill to expand basic research and development and promote math and science education. The programs that were offered at the university were not expensive for elementary children.
Faiza Akhtar September 24, 2011 at 05:36 PM
Well financially raping average Americans does take a long time Ms. Klepacki. After all, we are the main bulk of the population. Proof on how Hedge Funds steal: A NYT article in 11/06 stated that OPEC had secretly reduced oil output every month by about 13% since the previous July of that year. Yet, their secret was too well kept thus preventing OPEC from raking in the profits they wanted so, by November they "leaked" this information out to hedge funds only so that the games can begin and the rest of the country would suffer high gas prices just to get to work. Poor OPEC, I guess it took them a long time to get to where they were that year too. By the way, US presidential candidates didn't come visiting Old Field for the spectacular water views - the Laufers, part of the hierarchy at RenTech, hosted those fundraisers to make sure all of Simons' work went unregulated and unquestioned.
TheVanishingMiddleClass December 02, 2011 at 05:39 AM
Mr. Simons lost 2 of his sons & that is a tragedy I would not wish on anyone. However, your gripe is different than mine. His Simons Foundation was created for the purpose of medical research in solving the mystery of autism. It involves experimenting on animals &frankly, I never felt torturing & killing innocent animals was something where " the ends justify the means". It sickens me.In an era where so many scientists and physicians are advocating/promoting ethical alternatives to using live animals for medical experiments- this is senseless killing. In light of learning about what goes on with the Simons Foundation? His hedgefund success/activity, pales in comparison. My concern here, is the pervasive * might makes right* attitude that comes with animal experimentations. Since the man owns two horse farms( Silver Oaks in St James is the newest) I wonder if he would even bat an eye if he had to watch a horse be subjected to torture and then ultimately killed, in a quest to find out the answer to why autism exists? Or is that some animals are okay to experiment on- and others are not? THE KEY POINT IS THEY ARE SENTIENT BEINGS THAT SUFFER. They feel pain & fear, regardless of what species they are. I have friends with autistic kids. I, too, hope some day there is an answer & a cure, but not by these methods. It is morally reprehensible. Simons' "philanthropy" took a serious wrong turn with this quest.
Haig December 03, 2011 at 08:51 PM
Someone here seems very bitter over the fact that Mr. Simmon makes tons of money. Is it because you didn't think of the idea first ? Or is it that you are a graduate of the "everybody gets a trophy" generation, who feel entitled. If Mr. Simmon worked hard to earn his money, I say "so what." He can donate to whoever he wishes, but it seems that you are upset because he didn't contribute to the ones you wanted him to. Why don't you just worry about yourself, and try to make your life better, rather that demonizing someone you don't like.


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