"It's startling to see such a highly successful mathematician achieve success in another field," says Edward Witten, professor of physics at the Institute for Advanced Study in Princeton, New Jersey and considered by many of his peers to be the most accomplished theoretical physicist alive.In 2006, Simons was named Financial Engineer of the Year by the International Association of Financial Engineers. In 2020, he was estimated to have personally earned $2.6 billion, $2.8 billion in 2007, $1.7 billion in 2006, $1.5 billion in 2005 (the largest compensation among hedge fund managers that year), and $670 million in 2004. On October 10, 2009, Simons announced he would retire on January 1, 2010, but remain at Renaissance as nonexecutive chairman. Wealth and personal life In 2014, Simons reportedly earned US$1.2 billion, including a share of his firm's management and performance fees, cash compensation and stock and option awards. According to Forbes magazine, Simons had a net worth of $18 billion in 2017, making him #24 on the Forbes 400 richest people list. In 2018, he was ranked 23rd by Forbes, and in October 2019, his net worth was estimated to be $21.6 billion. In March 2019, he was named one of the highest-earning hedge fund managers and traders by Forbes. Simons shuns the limelight and rarely gives interviews, citing Benjamin the Donkey in Animal Farm for explanation: "'God gave me a tail to keep off the flies. But I'd rather have had no tail and no flies.' That's kind of the way I feel about publicity." In 1996, his son Paul, aged 34, was riding a bicycle, when he was killed by a car on Long Island. In 2003, his son Nicholas, aged 24, drowned on a trip to Bali, Indonesia. His son Nat Simons is an investor and philanthropist and his daughter Liz Simons is an educator and philanthropist. Simons owns a motor yacht, named Archimedes. It was built at the Dutch yacht builder Royal Van Lent and delivered to Simons in 2008. Simons doesn't wear socks. Political and economic views Simons is a major contributor to Democratic Party political action committees. According to OpenSecrets, Simons was ranked the #5 donor to federal candidates in the 2016 election cycle, coming behind Renaissance Technologies' co-CEO Robert Mercer, who ranked #1 and generally donates to Republicans. Simons has donated $7 million to Hillary Clinton's Priorities USA Action, $2.6 million to the House and