Hedge Fund Billionaire Spends $13 Million Supporing Ted Cruz, Then Immediately Flips To Hillary Clinton
By Tyler Durden
For those confused by the whole power triangle between Ted Cruz, Hillary Clinton, and Donald Trump, and which candidate stood for what and represents whom, the following brief anecdote from the Guardian should explain all one needs to know.
The world’s top 25 hedge fund managers earned $13bn last year – more than the entire economies of Namibia, the Bahamas or Nicaragua. Kenneth Griffin, founder and chief executive of Citadel, and James Simons, founder and chairman of Renaissance Technologies, shared the top spot, taking home $1.7bn each.
Simons, a string theory expert and former cold war codebreaker, has made an estimated $15.5bn from Renaissance Technologies the mathematics-driven “quant” hedge fund he set up 34 years ago.
The fund, which is run from the tiny Long Island village of Setauket where Simons owns a huge beachfront compound, has donated $13m to Cruz’s failed campaign. With Cruz out of the race, Renaissance has switched donations to Hillary Clinton, with more than $2m donated so far. Euclidean Capital, Simon’s family office, has donated more than $7m to Clinton.
That is all.
h/t @LibertyBlitz
