‘No interruptions’: This CEO spent nearly 2,000 nights in his office

The CEO of one of US's most successful hedge funds has revealed that he spent approximately 2,000 nights sleeping in his office. Peter Brown , the 68-year-old CEO of Renaissance Technologies , a Long Island-based hedge fund, described how this unconventional arrangement, equivalent to about five and a half years, helped him maintain focus on his work . Brown would dedicate four days a week at the hedge fund's East Setauket office before returning to his family home in Washington, DC, as he explained in a recent Goldman Sachs Exchanges podcast. While acknowledging the sacrifices, Brown highlighted the benefits of being able to devote nearly 80 uninterrupted hours each week to work, stating that the demanding nature of his job made this arrangement invaluable. His decision to sleep at the office was facilitated by his wife, Margaret Hamburg, who worked in Washington,DC. As he put it, "Psychologically, if I'm going to be away from my family, I have to work," Brown told podcast host Raj Mahajan. “Of course, I really miss my family. But the freedom to concentrate nonstop on work while surrounded by my colleagues is hugely valuable," he said. "For me, productivity-wise it's really fantastic being able to spend nearly 80 straight hours each week with no interruptions except sleep thinking about work before spending three more normal days at home." Brown said. Brown mentioned that he already gets very little sleep, and when he does, it's often of poor quality, although this is not by preference. Peter Brown, whose estimated net worth is about $100 million, joined Renaissance in 1993 and, under his leadership, the hedge fund has become one of the world's most successful, managing over $130 billion in assets. Prior to joining Renaissance in 1993, Brown served as a language technology expert at IBM.Brown holds a doctorate from Carnegie Mellon University and earned his Bachelor of Arts/Science degree from Harvard University. Renaissance Technologies is among the most successful and enigmatic hedge funds globally. Its primary Medallion Fund achieved an impressive annualized return of approximately 66% from 1988 to 2020, before accounting for fees. After factoring in fees, the return remained substantial at 39%.