Stony Brook gets $500 million gift from hedge fund honcho James Simons — largest to college in US history
Billionaire hedge funder James Simons, a former math professor at Stony Brook University, has donated a staggering $500 million to his alma mater, the largest unrestricted donation to a college in US history. The donation, made by foundations overseen by Simons and his wife Marilyn, is expected to grow by up to $1 billion in contributions for Stony Brook University’s endowment, thanks to New York State’s public matching program for donations. Simons has previously donated record amounts to the Long Island school, including a $60 million gift in 2008. The State University of New York flagship campus designation was given to Stony Brook by Governor Kathy Hochul last year.
Simons, the founder of Renaissance Technologies investment firm, has credited his time at Stony Brook for honing his skills and providing him with a chance to lead. Speaking on their gift, Simons Foundation Co-Founder Jim Simons said, “Marilyn and I are proud to support this outstanding public university that has given us so much.” The $500 million gift will also help those from underserved communities reach their full potential. Marilyn Simons, who has received two degrees from the school, expressed her pride in the education she received at Stony Brook and the desire to maintain its excellence for future generations of students.
1. Who is James Simons?
James Simons is a billionaire hedge funder and founder of Renaissance Technologies investment firm. He was a former math professor at Stony Brook University.
2. What is the amount of the donation made by James Simons and his wife Marilyn?
The couple donated a staggering $500 million to Stony Brook University.
3. What is the purpose of the donation?
The donation is to support the outstanding public university that has given so much to the couple and help maintain its excellence for future generations of students.
4. What is the matching program for donations in New York State?
New York State has a public matching program for donations made to educational institutions, which will help to grow the donation by up to $1 billion.
5. Has James Simons donated to Stony Brook University before?
Yes, James Simons has donated record amounts to the school, including a $60 million gift in 2008.
James Simons, hedge fund honcho, donates unprecedented $500 million to Stony Brook College, making it the biggest gift ever to any college in the United States.
Stony Brook University received a historic $500 million donation from former math professor turned billionaire hedge funder James Simons and his wife Marilyn Simons, both Stony Brook alumni. The unrestricted contribution is being hailed as the largest ever donation to a US college. The announcement was celebrated by Governor Kathy Hochul, who designated Stony Brook as one of the State University of New York’s flagship campuses last year. The Simons’ foundation overseers predict that New York State’s public matching program for donations could see the total gift grow by up to $1 billion for Stony Brook University’s endowment. Simons has steadily contributed to Stony Brook in recent years, including a record $60 million donation in 2008. The Renaissance Technologies investment firm founder credited Stony Brook with honing his skills and said he knew it was a top intellectual center with a serious commitment to research and innovation. The donation will help give those from underserved communities the opportunity to reach their full potential, said Marilyn Simons.