Jim Simons Donates $150 Million to Stony Brook University

Jim Simons, the founder and superstar manager of Renaissance Technologies, is one of the latest hedge fund managers to demonstrate his philanthropy this year.

The New York Times announced that Simons and his wife Marilyn will be donating $150 million to Stony Brook University, the University where Simons talked mathematics early in his career. RENAISSANCE TECHNOLOGIES

“He joined two governors, David A. Paterson and Andrew M. Cuomo, in pressing the Legislature to shore up the finances of the State University of New York, the parent system of Stony Brook, in part by raising tuition,” reports the New York Times. “He made it clear that he could be very generous if the state acted, and this year lawmakers made the kinds of changes he sought.”

Simons’ donation, which is to be paid over 7 years, is “more than triple the amount the University typically [raises] from all donors in the year.” Like many public universities, “SUNY has faced declining state support, but unlike most of them, SUNY cannot compensate by raising tuition,” because “in New York, the Legislature sets tuition at state universities, and for years it has resisted the rapid increases seen around the country.”

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!