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Grizzly Bulls’ Billionaires Index

⬅ # 51 Len Blavatnik|# 53 Miriam Adelson ➡

# 52 Jim Simons 

$31.6B

Real Time Net Worth
as of 5/10/2024

# 52 Jim Simons 

$31.6B

Real Time Net Worth
as of 5/10/2024
OccupationFounder, Renaissance Technologies
Source of WealthHedge Funds
Age86
ResidenceEast Setauket, New York
Marital StatusMarried
Children3
EducationBS, Massachusetts Institute of Technology; Doctorate, University of California, Berkeley
Age-Adjusted Net Worth$5.45B
Jim Simons
Jim Simons
United States
Net worth: $31.6B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

James Harris Simons was born on April 25, 1938, in Brookline, Massachusetts, to Marcia and Matthew Simons.
He grew up in an American Jewish family and was the only child.
Simons received a bachelor's degree in mathematics from MIT in 1958 at the age of 20.
He earned a Ph.D. in mathematics from Berkeley in 1961 under the supervision of Bertram Kostant at the age of 23.
After graduating from MIT, Simons embarked on a motor scooter journey from Boston to Bogotá, Colombia.

Academic and Scientific Career

Simons' mathematical work focused on the geometry and topology of manifolds.
His 1962 Berkeley Ph.D. thesis provided a new proof of Berger's classification of holonomy groups of Riemannian manifolds.
He collaborated with Shing-Shen Chern on characteristic classes, discovering the Chern–Simons secondary characteristic classes of 3-manifolds.
Simons became the 1976 recipient of the AMS Oswald Veblen Prize in Geometry.
In 2014, he was elected to the U.S. National Academy of Sciences.
Simons worked with the National Security Agency in 1964 to break codes and later served on the research staff of the Communications Research Division of the Institute for Defense Analysis.
He founded Math for America in 2004, a nonprofit aiming to improve mathematics education in U.S. public schools.

Investment Career

Simons founded Renaissance Technologies, known for using mathematical models in hedge fund trading, in the late 1970s.
Renaissance's main fund, Medallion, closed to outside investors, earned over $100 billion in trading profits since its 1988 inception.
The Medallion fund achieved a 66.1% average gross annual return or a 39.1% average net annual return between 1988 – 2018.
Renaissance manages other funds, such as RIEF and RIDA, totaling approximately $55 billion in combined assets as of April 2019.
Simons was named Financial Engineer of the Year in 2006 and estimated to have personally earned billions in various years.
He announced retirement on October 10, 2009, effective January 1, 2010, but remained at Renaissance as nonexecutive chairman.

How long would it take you to become as rich as Jim Simons?

If you started with $10,000 and invested an additional $500 each month at a 44.01% CAGR, it would take you 5 years to reach Jim Simons's net worth of $31.6B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 40.45% compared to 10.08% for the S&P 500 benchmark.

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Jim Simons is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Jim Simons, Hedge Funds is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey