The secret billionaire that gives $15,000 to hundreds of New York teachers

US teachers are paid 1.3 per cent less on average than they were 13 years ago

Zlata Rodionova
Tuesday 15 September 2015 17:06
Comments

The founder of a $22-billion hedge fund, James Harris Simons, has supported the next generation of math teachers and scholars by donating money through his philanthropic organisation.

Not just one teacher, either. Mr Simons, who runs the billion-dollar hedge fund Renaissance Technologies, started giving out money to deserving public school math and science teachers across New York City through Math for America, a non-profit organization he created 20 years ago.

"We give them extra money, $15,000 a year. We have 800 math and science teachers in New York City in public schools today, as part of a core," Mr Simons said during a Ted talk interview. “There's a great morale among them. They're staying in the field. Next year, it'll be 1,000 and that'll be 10 percent of the math and science teachers in New York [City] public schools.”

Mr Simons created the organisation with his wife Marilyn with the mission “making teaching a viable, rewarding, and respected career choice for the best minds in science and mathematics.

US teachers are paid 1.3 per cent less on average than they were 13 years ago. The average salary is now $US 56,383 according to the National Centre for Education Statistics.

Mr Simons received his doctorate at 23, before doing advance code breaking for the National Security Agency at age 26. He founded Renaissance Technologies, one of the world’s most successful hedge funds, at the age of 44.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in