The wife of billionaire hedge fund executive John Overdeck has returned to court after turning down a $633 million divorce settlement as the couple continues a legal fight described as New Jersey’s largest divorce case.
Laura Overdeck, 56, and John Overdeck, also 56, appeared before a judge this week while she pursued a larger share of the wealth he accumulated through his investment company, Two Sigma.
The latest hearing follows Laura’s rejection of a settlement valued at more than $600 million. She has alleged that John “schemed” to minimize the amount she would receive in the divorce.
Her legal team has previously accused him of “methodically and strategically” protecting his personal fortune for decades, concealing assets from his wife and effectively “planning his escape” while they were still married.
Laura is seeking 35 percent of the value of John’s interest in Two Sigma, the Manhattan-based hedge fund he launched with businessman David Siegel in 2001. The couple married the following year without signing a prenuptial agreement.
The spouses’ attorneys disagree sharply over the value of John’s stake. His lawyers estimate it at $4.5 billion, while Laura’s legal team places the figure at $6.2 billion and argues that the interest qualifies as marital property.
On Tuesday, the pair appeared in a Newark courtroom before Family Court Judge Bruce Buechler as attorneys debated the value of Two Sigma’s assets. The firm itself has been valued at $80 billion, according to The New York Post.
John had asked the judge to close the courtroom while his financial expert, Todd Povlich, gave detailed evidence about the company’s assets. Buechler granted the request in part.
Laura Overdeck (pictured), 56, is seeking a larger share of the fortune amassed by her billionaire hedge fund manager husband, John Overdeck, through his investment firm, Two Sigma
The development came months after Laura rejected a settlement worth more than $600 million, alleging that John had “schemed” to leave her with as little as possible in the divorce
Laura is seeking 35 percent of John’s stake in Two Sigma (headquarters pictured), the hedge fund he founded with businessman David Siegel in 2001, one year before the couple married without a prenuptial agreement
Judge Buechler declined to seal all of Povlich’s testimony but agreed that sections potentially exposing Two Sigma trade secrets should be heard privately, the outlet reported.
Laura’s lawyers challenged the need for confidentiality, noting that John’s side had already disclosed its own valuation of the company in court proceedings.
Buechler said he was concerned that Povlich might reveal “where the values are going, what they are looking at, what they are investing in.” The judge said such information could constitute protected business secrets and damage the firm if made public.
During the closed-door testimony, Povlich was expected to explain how he calculated Two Sigma’s overall value and how he assessed each of its 20 entities.
Laura appeared focused during the portions of the hearing open to the public. Wearing red sunglasses and metallic woven-leather heeled mules, she worked on her laptop and frequently leaned toward her attorneys to confer.
John, by contrast, appeared mostly disengaged. He spent much of the testimony looking at his cellphone while his lawyer questioned Povlich, who was the second-to-last witness for his side.
Tuesday’s proceedings marked the 10th day of the extended hearing involving the hedge fund John founded with Siegel. The co-founders are also embroiled in a fierce power struggle over control of the company.
John has already spent several days on the witness stand. Laura, however, was prevented from testifying after allegations of wrongdoing were raised against her in the case, according to the New York Post.
The couple appeared Tuesday before Family Court Judge Bruce Buechler in Newark as the court examined the value of Two Sigma’s assets, with the hedge fund valued at $80 billion
John’s attorneys put his stake value at $4.5 billion and Laura’s side at $6.2 billion, arguing that she is entitled to a share because it is a marital asset (pictured: Two Sigma offices)
John asked the judge to clear the courtroom to keep the company’s assets secret during detailed testimony from his financial expert, Todd Povlich (pictured), and won the bid
The judge said she allegedly hacked into John’s computer, broke into his post office box and deleted evidence from her phone.
The courtroom battle is expected to open back up to the public Wednesday morning, with the Overdecks due back in court later this month for additional testimony from another financial expert.
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Laura filed for divorce in 2022, ending the couple’s 20-year marriage, during which the pair, both math whizzes, had three children together.
Together, they raised their family in a mansion in tony Short Hills with the help of a full-time nanny and a housekeeper who worked 15 hours a week, according to the outlet.
Their bitter split went to trial in August before New Jersey Superior Court Judge Buechler, with Bloomberg in the courtroom for what is believed to be the largest contested divorce in the state’s history.
John’s lawyers said their client, worth an estimated $8 billion, was ready to give his ex-wife $723 million in tax-free cash, but Laura argued the figure should be far higher if she wins her fight for a stake in his fund.
His lawyers argued that Two Sigma is not a marital asset, pointing out that it was founded two years before the couple tied the knot in 2002.
‘The company had done substantial work and managed hundreds of millions of dollars before the parties’ marriage,’ John’s lawyer Jonathan Wolfe said.
Laura was barred from testifying after the judge accused her of allegedly hacking into John’s computer, breaking into his post office box and deleting evidence from her phone
Laura filed for divorce in 2022. They had raised their family in a mansion in tony Short Hills (pictured) with the help of a full-time nanny and a housekeeper who worked 15 hours a week
In August, John’s lawyers said their client, worth an estimated $8 billion, was ready to give his ex-wife $723 million in tax-free cash, but Laura argued the figure should be far higher
But Laura’s attorney, Therese Lyons, fired back that the company was merely a ‘concept’ at the time and did not begin trading until after the couple married.
The firm ballooned in value during their marriage, with John telling the court he had grown it from under $1 billion to $80 billion over the past 25 years.
Lyons doubled down on the accusations, claiming John had been ‘working tirelessly’ to conceal assets from his wife and ‘scheming’ to strip billions from their marital estate.
‘John Overdeck is not a man who woke up one morning and decided to divorce his wife,’ Laura’s attorney said.
Wolfe contended that John earned $685 million during their marriage, a massive sum that was all held in a joint bank account. But the lawyer stressed that his client had already amassed billions before they married.
He said that John’s offer to his estranged wife was ‘more than enough to meet the needs of the parties’ marital lifestyle.’
Laura is also fighting for hundreds of millions of dollars in Treasury bonds held in a trust, along with equal control of the couple’s family foundation.
If she does not get control, her lawyers want John to hand over 50 percent of its value to a charity of her choosing.
John’s lawyers argued that Two Sigma is not a marital asset, pointing out that it was founded two years before the couple tied the knot in 2002 (pictured: David Siegel far legt, Overdeck far right)
John had recently splashed out $72 million on a waterfront Palm Beach, Florida palace (pictured)
John currently lives in the Florida mansion with his current girlfriend, Kimia Shadrokh, 42, a Peakstone managing director and former Moinian Group commercial real estate executive
The foundation had $920 million in assets in 2024, according to a tax filing seen by Bloomberg.
Before co-founding Two Sigma, John worked at investment firm DE Shaw & Co, where he also helped Jeff Bezos launch Amazon.
He recently splashed out $72 million on a waterfront Palm Beach palace, where he lives with his current girlfriend, Kimia Shadrokh, 42, a Peakstone managing director and former Moinian Group commercial real estate executive.
Laura, meanwhile, studied astrophysics at Princeton University before earning an MBA from the Wharton School of Business. She went on to found Bedtime Math, a nonprofit she still oversees that helps parents teach math to their children.