The seven billion dollars are back taxes and settlements in a dispute with the US IRS.
Found of the fund James Simons will make an additional “settlement payment” of $670 million in addition to back taxes.
Info via a Wall Street Journal report, link here.
--
That's a hefty bill and may lead the fund to sell some stocks. The thing about Renaissance is though they'd probably buy them back 120 milliseconds later or something like that.
Absolute trading legend Jim Simons:
