Setauket hedge fund founder makes $1.1B in 2013

Renaissance Technologies founder James Simons is No. 4

Renaissance Technologies founder James Simons is No. 4 for his salary among hedge fund managers, according to a 2014 report by Institutional Investor’s Alpha. This photo is from Dec. 14, 2011. (Credit: Randee Daddona)

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James Simons, founder of East Setauket's Renaissance Technologies, pulled down $1.1 billion in 2013, making him the sixth-highest-earning U.S. hedge fund manager and trader, according to a ranking released Wednesday by Forbes.

Although Simons, 75, retired from the $25 billion hedge fund firm in 2010, he still has a hand in the firm, Forbes said.

The former chair of the mathematics department at Stony Brook University, Simons helped pioneer a quantitative strategy that uses computers to rapidly trade stocks based on momentary inefficiencies in the market.

Topping the Forbes list was hedge fund veteran George Soros, who earned $4 billion.

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