Two Sigma hedge fund feud: Feuding co-founders John Overdeck and David Siegel could be forced to come to the table if John’s wife files for divorce

Two feuding billionaires, co-founders of a $60 billion hedge fund in New York City, may be forced to make peace after one of their wives files for divorce, seeking a multi-billion dollar settlement that will protect her husband’s best interests. in the company could decrease.

John Overdeck, 53, and David Siegel, 61, became two of the richest men in the country thanks to their company Two Sigma — but the two are so at odds that they informed partners that they can’t even get together to make basic management decisions to take.

The two founders have been at odds for decades and have an agreement that gives them roughly equal interests in the data and technology-driven company. They have the only two votes and invest equally in the company.

But that deal is now threatened by Overdecks’ divorce from his wife of 20 years Laura, as the former couple had no prenuptial agreement and she could end up with half of his shares, as reported by the Wall Street Journal.

Laura Overdeck, a Princeton and Wharton graduate who works as a philanthropist focused on math education, filed for divorce early last year, according to the outlet.

Overdeck has an estimated net worth of nearly $7 billion and lived with his wife in a $4 million mansion in New Jersey

John Overdeck, 53 (right), and David Siegel, 61 (left), became two of the richest men in the country thanks to their Two Sigma company, but have been feuding for decades. They are pictured with fellow billionaire Michael Bloomberg

The couple, who share three children, are currently negotiating a settlement. Overdeck has an estimated net worth of nearly $7 billion and lived with his wife in a $4 million mansion in New Jersey.

It is likely that most of his fortune consists of his equity in Two Sigma and he reportedly would like to keep the equal ownership arrangement.

But a source close to the case told the WSJ that Siegel values ​​the company more than Overdeck.

Still, Siegel has indicated that he would like to take a step back from the company and take on more of an advisory role to free up time for travel, among other things; but has refused to hand over control to Overdeck, who has said he wants to remain actively involved in the company.

Siegel, for his part, has a net worth of over $6 billion and lives in a $2.8 million home in Scarsdale, New York, with his philanthropist wife Dana Matsushita. The couple has two children.

Siegel is married to philanthropist Dana Matsushita. The couple has two children

Siegel has a net worth of over $6 billion and lives in a $2.8 million home in Scarsdale, New York

Overdeck’s attorney Jonathan Wolfe told the WSJ: “This is a personal case for John, who is focused on his business and his children. He has no intention of divesting himself from Two Sigma and has no intention of entering into a divorce settlement that would affect the company’s operations or his property.”

DailyMail.com has reached out to Wolfe for comment on this story.

Two Sigma declined to comment when it was reached on Wednesday.

Overdeck and Seigel founded Two Sigma in 2001 with a third partner, Mark Pickard, who left soon after.

The pair are said to have always had different styles, with Siegel, a computer scientist, preferring to focus on big projects and future technological developments such as artificial intelligence.

Overdeck, a mathematician, is said to be the most hands-on and likes to focus on the company’s performance.

It’s unclear what, if anything specific, led to their breakup. It has been reported that the founders became increasingly competitive as their businesses boomed, and would apparently monitor billionaire rankings to make sure they were evenly ranked.

They would block the others’ moves and change priorities on a whim.

In March, the company said in a securities filing that its founders can agree on virtually nothing — from what the role of employees should be to the issue of succession. The filed admitted that this could hurt the Two Sigma’s operations and returns.

The Securities and Exchange Commission has launched an investigation into the company following the filing, the WSJ reported.

Overdeck and Seigel founded Two Sigma in 2001 with a third partner, Mark Pickard, who left soon after

In March, the company said in a securities filing that its founders can agree on virtually nothing — from what the role of employees should be to the issue of succession

Meanwhile, the company has urged partners that the two founders have been able to work together through their breakup for decades.

“While we disagree on certain important topics, we also agree on many of the things that are most critical to our organization,” the pair said in a note to investors, according to the WSJ.

Jonathan Hitchon, who acted as a mediator between the founders, recently retired as COO of the company.

The Overdecks founded the Overdeck Family Foundation in 2011 with the goal of increasing educational opportunities for children.

John, who received his math degree from Stanford University, previously served as a vice president at Amazon.

Laura has a degree in astrophysics from Princeton University and an MBA from the Wharton School of Business. She founded an organization that oversees the non-profit Bedtime Math.