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James Simons, Robert Mercer, Others at Renaissance to Pay Up to $7 Billion to Settle Tax Probe [1]

['Gregory Zuckerman', 'Richard Rubin']

Date: 2022-07

James Simons, founder of Renaissance Technologies, was one of the first to fully embrace quantitative investing.

Current and former executives of hedge fund Renaissance Technologies LLC will personally pay as much as $7 billion in back taxes, interest and penalties to settle a long-running dispute with the Internal Revenue Service, the firm said, a tax settlement that may be the largest in history.

James Simons —the quantitative-investing pioneer who started Renaissance before retiring as the firm’s chairman on Jan. 1—will make an additional “settlement payment” of $670 million, according to the firm. Mr. Simons will also pay back taxes related to his gains.

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[1] Url: https://www.wsj.com/articles/james-simons-robert-mercer-others-at-renaissance-to-pay-7-billion-to-settle-tax-probe-11630617328?st=mm01idv1r7q85gr&reflink=article_copyURL_share

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