Investing
Jim Simons Makes Billions While Renaissance Investors Fume at Losses
- Renaissance founder’s fortune grew by $2.6 billion last year
- Investors unhappy with poor performance have been pulling cash
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Jim Simons added $2.6 billion to his vast wealth in 2020. His clients weren’t so fortunate.
Investors in three hedge funds run by Simons’s Renaissance Technologies lost billions of dollars as the firm’s computer models were flummoxed by the market’s gyrations. Meanwhile, Simons ranked second on Bloomberg’s list of the highest-paid managers, and was the only one in the top 15 whose clients didn’t make money last year.
Read more: Chase Coleman leads $23 billion payday for 15 managers