#41 James Simons
$7.4 billionSource: hedge funds
What market woes? former mathematician's quantitative hedge fund returned 73% net of fees—as high as 5% of assets, 40% of profits—in 2007. MIT grad cracked codes for U.S. Department of Defense during Vietnam War. Created Renaissance Technologies 1982. Uses complex algorithms to exploit inefficiencies in stock market. Fund closed to investors; only manages money for Simons, Renaissance employees. Launched RIEF 2005; fund for institutional investors has goal of beating the S&P 500 by 5%. So far a success, though some investors underwhelmed; $5 billion have relocated to futures-oriented fund, RIFF.
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