In 1978, Jim Simons founded what would become Renaissance Technologies LLC, a private investment firm based in New York. It is now one of the world's most successful quant hedge funds. The firm specializes in systematic trading that relies on quantitative models derived from mathematical and statistical analysis.<br>Simons stepped down from the position of CEO in 2010 and retired from the role of chairman in 2021. He passed away in May of 2024 at the age of 86.