Robert Mercer
usinfo | 2013-07-03 11:37

Rank: 39
Firm: Renaissance Technologies Corp.
Earnings: $90 million

Former IBM language recognition specialist joined Renaissance in 1993. Mercer, 65, took over as co-CEO when Renaissance founder James Simons retired. Politically conservative. Has huge model train in home basement.

Renaissance Technologies is a hedge fund management company of about 275 employees and over $15 billion in assets under management in three funds. It operates in East Setauket, Long Island, New York, near Stony Brook University with administrative functions handled in Manhattan.

Started in 1982 by James Simons, Renaissance currently has more than $23 billion in assets under management. Since 1989, the company's $5 billion Medallion Fund has averaged 35% annual returns after fees.The Medallion Fund is one of the most successful hedge funds.In 2011, out of 144 tech pro, Renaissance Technology was ranked as no. 4 of the best IT department in financial services. Simons retired at the end of 2009.

Renaissance charges a management fee of 5% and a profit participation of, initially 36%, and now 44%, both of which are higher than the industry standard of 2% and 20%, respectively.

 
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