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John Overdeck

Summary

John Albert Overdeck (born 1969) is an American hedge fund manager. Overdeck is the co-founder and co-chairman of Two Sigma Investments, a New York City-based hedge fund that uses a variety of technological methods, including artificial intelligence, machine learning, and distributed computing, for its trading strategies.[2][3][4][5][6] In 2016, Overdeck reported $375 million in earnings[7] and as of May 2017, Two Sigma Investments has $41 billion in assets under management.[8]

John Overdeck
Born1969 or 1970 (age 54–55)[1]
EducationStanford University (BS, MS)
OccupationHedge fund manager
Known forCo-founder and co-chairman of Two Sigma Investments
Spouse
​
(m. 2002)​
Children3

In March 2019, he was named one of the highest-earning hedge fund managers and traders by Forbes.[9]

Early life and education

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Overdeck is the son of Dr. John M. Overdeck of Columbia, Maryland, a retired senior mathematician at Fort Meade, Maryland, for the National Security Agency, and the late Betsey Lombard Overdeck, who was a director of Computer Sciences Corporation.[10]

Overdeck went to Wilde Lake High School in Columbia, Maryland. In 1986, he was an International Mathematics Olympiad silver medalist. He then earned a bachelor's degree in mathematics and a master's degree in statistics, both from Stanford University.[11][12]

Prior to co-founding Two Sigma Investments, Overdeck was a managing director at D.E. Shaw & Co., and a vice president at Amazon.com.[3]

Two Sigma Investments

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Overdeck founded Two Sigma Investments in 2001 with David Siegel and Mark Pickard, who is now retired.[13][14] The company's main office is in New York City with branch offices in Houston, London, and Hong Kong.[15] In January 2015, the firm had $34.21 billion in assets under management and as of May 2017, the firm had $41 billion.[8][16]

Two Sigma Investments also operates a market-making business, owns a Bermuda reinsurance company, and runs a venture capital arm.[1]

Wealth

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In March 2017, Overdeck ranked 9th on Forbes' Highest-Earning Hedge Fund Managers.[7]

As of March 2019, his net worth was $6.1 billion,[1][17] making him one of the highest-earning hedge fund managers and traders by Forbes.[9]

Board memberships

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Overdeck is acting chair of the National Museum of Mathematics,[3] director of the Robin Hood Foundation,[3] on the board of trustees of the Institute for Advanced Study,[18] and a board member of the Hamilton Insurance Group.[19]

Personal life

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On October 12, 2002, Overdeck married Laura Bilodeau, then a principal consultant for Stanford Research Institute;[10] she went on to found Bedtime Math.[20] They have three children and live in Millburn, New Jersey.[1][17][20][21] Laura Overdeck initiated divorce proceedings in early 2022 citing “irreconcilable differences”. According to The Wall Street Journal, they do not have a prenuptial agreement.[22] Laura Overdeck also sued over the family's lawyers moving various family assets into trusts in Wyoming, saying it appeared to be a way to hide assets from her and the children.[23]

Overdeck competed in the 2019 National Museum of Mathematics's Masters Tournament, which raised almost $1 million, and placed third.[12]

Philanthropy

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In 2011, Overdeck and his wife Laura established the Overdeck Family Foundation, an organization that funds educational research and STEM education.[3][11][24] The foundation's overall goal is to enable all American children to unlock their potential by strengthening learning in and out of school.[25]

The Overdecks' education philanthropy focuses on four key issue areas: "early impact", "exceptional educators", "innovative schools", and "inspired minds".[11] They have made gifts to Robin Hood Foundation for work by MDRC to study the long-term effects of various early childhood programs. The Overdecks have also supported the Harlem Children's Zone within its early impact strategy and the Khan Academy.[11] Other grantees have included the NJ STEM Teaching Fellowship, and Governor's School for the Sciences at Drew University in New Jersey.[26] Laura Overdeck is an alumna of Governor's School and was instrumental in saving the program through private donations in 2006.[27][28]

In October 2018, The Overdeck Education Innovation Fund gifted $1 million to be distributed over the next three years by the Woodrow Wilson School of Public and International Affairs for research on education issues. This is the second gift from the Overdeck Family Foundation, the first of which was $1 million donated in 2016.[25] That same month, the Overdeck Family Foundation pledged $3 million to Opportunity Insights, a policy and research institute based at Harvard University that will publish data on the probability that children will escape poverty based on where they were raised.[29][30][31]

Honors and recognition

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  • 1986, Silver Medal for the U.S. in the International Mathematical Olympiad in Poland at age 16
  • 2012, Distinguished Alumni of The Johns Hopkins Center for Talented Youth[32]
  • 2017, Golden Plate Award of the American Academy of Achievement[33][34][35]
  • 2019, Manager Lifetime Achievement Award at Institutional Investor's 17th annual Hedge Fund Industry Awards[36]

References

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  1. ^ a b c d "Forbes profile: John Overdeck". Forbes. Archived from the original on May 10, 2020. Retrieved May 28, 2020.
  2. ^ Vardi, Nathan (April 3, 2017). "The Machines Are Eating Wall Street". Forbes. Archived from the original on April 3, 2017. Retrieved May 8, 2017.
  3. ^ a b c d e "Meet the Overdecks". Overdeck Family Foundation. Archived from the original on May 20, 2017. Retrieved May 8, 2017.
  4. ^ "Two Sigma Investments". Archived from the original on April 10, 2017. Retrieved May 7, 2017.
  5. ^ Vardi, Nathan (July 11, 2014). "Two Sigma Investments Is Having a Great Year And Becoming A Hedge Fund Powerhouse". Forbes. Archived from the original on October 25, 2017. Retrieved May 7, 2017.
  6. ^ The World's 100 richest Hedge Funds Archived 2016-11-28 at the Wayback Machine, Bloomberg Markets
  7. ^ a b "Highest-Earning Hedge Fund Managers 2017". Forbes. Archived from the original on November 5, 2018. Retrieved May 8, 2017.
  8. ^ a b "#529 John Overdeck $3.61B". Bloomberg.com. Bloomberg. Archived from the original on May 12, 2018. Retrieved May 8, 2017.
  9. ^ a b Vardi, Nathan. "The Highest-Earning Hedge Fund Managers And Traders". Forbes. Archived from the original on March 30, 2019. Retrieved March 30, 2019.
  10. ^ a b "WEDDINGS/CELEBRATIONS; Laura Bilodeau, John Overdeck". New York Times. October 13, 2002. Archived from the original on November 5, 2018. Retrieved November 5, 2018.
  11. ^ a b c d "John Overdeck". Inside Philanthropy. Archived from the original on February 23, 2017. Retrieved May 8, 2017.
  12. ^ a b "Top Quants Compete in Devilishly Tough Math Competition". Bloomberg.com. February 27, 2019. Archived from the original on June 16, 2019. Retrieved September 12, 2020.
  13. ^ Vardi, Nathan (July 11, 2014). "Two Sigma Investments Is Having a Great Year And Becoming A Hedge Fund Powerhouse". Forbes. Archived from the original on October 25, 2017. Retrieved May 9, 2017.
  14. ^ "John Overdeck And David Siegel Bio, Returns, Net Worth". Insider Monkey. Archived from the original on April 27, 2017. Retrieved May 9, 2017.
  15. ^ "Contact". Two Sigma. Archived from the original on July 16, 2016. Retrieved May 9, 2017.
  16. ^ "Two Sigma Investments Llc". Octafinance. Retrieved May 9, 2017.
  17. ^ a b "Trio Of Millburn-Short Hills Men On Forbes Billionaires List". Millburn-Short Hills, NJ Patch. March 7, 2019. Archived from the original on March 30, 2019. Retrieved March 30, 2019.
  18. ^ "John Overdeck Appointed to Institute for Advanced Study Board of Trustees". Institute for Advanced Study. Archived from the original on July 17, 2018. Retrieved July 17, 2018.
  19. ^ "John Overdeck". Hamilton Group. Archived from the original on July 16, 2018. Retrieved May 8, 2017.
  20. ^ a b "Bedtime Math". Bedtime Math. Bedtime Math Foundation. Archived from the original on October 29, 2019. Retrieved October 29, 2019.
  21. ^ Davis, Tom (March 21, 2017). "Meet New Jersey's 6 Billionaires In 2017". Millburn Patch. Archived from the original on June 16, 2017. Retrieved May 8, 2017.
  22. ^ Zuckerman, Gregory; Chung, Juliet (August 9, 2023). "WSJ News Exclusive | This Hedge Fund's Two Feuding Founders Are Under Pressure to Make Peace". Wall Street Journal. ISSN 0099-9660. Retrieved November 16, 2023.
  23. ^ Farrell, Maureen (November 6, 2023). "Warring Billionaires, a Rogue Employee, a Divorce: One Hedge Fund's Tale of Woe". The New York Times. Retrieved November 6, 2023.
  24. ^ Flowers, Matt (October 13, 2016). "South Jersey looks to improve STEM ed". Courier Post Online. Retrieved May 8, 2017.
  25. ^ a b Kim, Leslie (October 9, 2018). "Wilson School fund established for education research". Daily Princetonian. Archived from the original on October 16, 2018. Retrieved October 16, 2018.
  26. ^ "Kean University grads among 2015 Woodrow Wilson Fellowship Winners". nj. August 5, 2015. Archived from the original on November 4, 2019. Retrieved November 4, 2019.
  27. ^ "Top high school students study science at annual Governor's School" (PDF). Archived (PDF) from the original on May 3, 2017. Retrieved November 4, 2019.
  28. ^ "Hoping for a Strong Comeback, Governor's Schools Prep for 2013". NJ Spotlight. December 3, 2012. Archived from the original on November 4, 2019. Retrieved November 4, 2019.
  29. ^ "Behind a New Institute for Economic Mobility: Powerful Data and Billionaire Donors". October 5, 2018. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  30. ^ Schaffhauser, Dian (November 5, 2018). "Detailed Picture of 'Inequality of Opportunity' Emerges -". THE Journal. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  31. ^ "Grants Roundup: Duke University's Environmental School Receives $20 Million Grant". October 10, 2018. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  32. ^ "CTY announces inaugural distinguished alumni honorees". CYT News. Archived from the original on October 8, 2020. Retrieved October 4, 2020.
  33. ^ "Golden Plate Awardees of the American Academy of Achievement". www.achievement.org. American Academy of Achievement. Archived from the original on December 15, 2016. Retrieved October 4, 2020.
  34. ^ "2017 Summit Highlights Photo: 2017 honoree John Overdeck, math genius and co-founder of Two Sigma Investments, addresses the delegates". American Academy of Achievement. Archived from the original on September 17, 2020. Retrieved October 4, 2020.
  35. ^ "2019 Summit Highlights Photo: Summit Co-Host John Overdeck and the delegates at Four Seasons Hotel New York during the International Achievement Summit". American Academy of Achievement. Archived from the original on September 19, 2020. Retrieved October 4, 2020.
  36. ^ "John Overdeck and David Siegel to Receive Lifetime Achievement Award". Institutional Investor. May 6, 2019. Archived from the original on August 10, 2020. Retrieved October 4, 2020.

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