"Jim Simons, a US hedge-fund manager, used mathematical modelling and algorithms to make huge returns on financial investments, amassing an estimated US$31 billion by 2024."
"Philanthropic organizations have become increasingly important as a source of science funding, with their share of funding for research at US universities rising from 10% to 16% between 1980 and 2023."
"Factors behind the rise in philanthropic funding include the concentration of wealth among a few individuals and a reduction in US government funding on an inflation-adjusted basis."
"The Science Philanthropy Alliance has grown to more than 40 member foundations since its launch in 2014, indicating a significant increase in organizations providing research support."
Jim Simons, a hedge-fund manager, utilized mathematical modeling for substantial financial returns, amassing a fortune of $31 billion by 2024. He founded the Simons Foundation in 1994 with his wife to support mathematics and science. Philanthropic funding for research has increased from 10% to 16% between 1980 and 2023, while federal contributions decreased. Factors driving this rise include wealth concentration among individuals and reduced government funding. The Science Philanthropy Alliance has expanded to over 40 member foundations since 2014, reflecting the growing importance of philanthropy in research funding.
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