James Simons, the founder of New York-based quant hedge fund Renaissance Technologies, has been awarded this year’s Carnegie Medal of Philanthropy.
The award, which honors those who use their private wealth for the public good, recognized Simons and his wife, Marilyn, through their numerous charitable efforts, which includes the Paul Simons Foundation. The foundation supports projects related to education and health, in addition to scientific research.
Worth an estimated $10.6 billion, Simons also founded Math for America, a non-profit organization that aims to improve math education in public schools and is a generous donor to the Nepalese healthcare system after his son Nick, who worked in Nepal, drowned while on a trip to Indonesia.
Other recipients of this year’s Carnegie Medal of Philanthropy include Scotland’s first home-grown billionaire Sir Tom Hunter and Dame Janet Wolfson de Botton DBE on behalf of the Wolfson family, founders of the Wolfson Foundation.
Longtime hedge fund manager George Soros was a former recipient of the award, which has often been described as the “Nobel Prize for philanthropy.”