John Overdeck

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John Overdeck
Born1969/1970 (age 48–49)[1]
ResidenceMillburn, New Jersey, US
NationalityAmerican
EducationStanford University
OccupationHedge fund manager
Known forCo-founder and co-chairman of Two Sigma Investments
Net worthUS$5.5 billion (November 2018)[1]
Spouse(s)
Laura Anne Bilodeau (m. 2002)
Children3
Parent(s)John M. Overdeck
Betsey Lombard Overdeck

John Albert Overdeck (born 1969/1970) is an American billionaire hedge fund manager and philanthropist. 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]

In March 2017, Overdeck ranked 9th on Forbes' Highest-Earning Hedge Fund Managers.[7] According to Forbes, as of May 2017, his net worth was $4.8 billion.[1][9]

Early life and education[edit]

He is the son of Dr. John M. Overdeck of Columbia, Maryland, 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, and then earned a bachelor's degree in mathematics and a master's degree in statistics, both from Stanford University. In 1986, he was an International Mathematics Olympiad silver medalist.[11]

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[edit]

Overdeck founded Two Sigma Investments in 2001 with David Siegel and Mark Pickard, who is now retired.[12][13] The company's main office is in New York City with branch offices in Houston, London, and Hong Kong.[14] In January 2015, the firm had $34.21 billion in assets under management and as of May 2017, the firm had $41 billion.[15][8]

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

Board memberships[edit]

Overdeck is vice 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,[16] and a board member of the Hamilton Insurance Group.[17]

Personal life[edit]

On October 12, 2002, Overdeck married Laura Anne Bilodeau, then a principal consultant for SRI Consulting, and the daughter of Emily and Gilbert R. Bilodeau of Westfield, New Jersey.[10]. They have three children and live in Millburn, New Jersey.[18][1]

Philanthropy[edit]

In 2011, John and his wife Laura established the Overdeck Family Foundation, an organization that funds educational research and STEM education.[19][3][11] The foundation's overall goal is to improve outcomes for American children by strengthening learning in and out of school.[20]

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.[20] 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.[21][22][23]

References[edit]

  1. ^ a b c d e "Forbes profile: John Overdeck". Forbes. Forbes. Retrieved 5 November 2018.
  2. ^ Vardi, Nathan (April 3, 2017). "The Machines Are Eating Wall Street". Forbes. Retrieved 8 May 2017.
  3. ^ a b c d e "Meet the Overdecks". Overdeck Family Foundation. Overdeck Family Foundation. Retrieved 8 May 2017.
  4. ^ "Two Sigma Investments". 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. Retrieved May 7, 2017.
  6. ^ The World's 100 richest Hedge Funds, Bloomberg Markets
  7. ^ a b "Highest-Earning Hedge Fund Managers 2017". Forbes. Retrieved 8 May 2017.
  8. ^ a b "#529 John Overdeck $3.61B". Bloomberg. Bloomberg. Retrieved 8 May 2017.
  9. ^ Warren, Michael (May 17, 2017). "These 2 N.J. hedge fund managers made $1.5B last year". NJ. Retrieved 19 May 2017.
  10. ^ a b "WEDDINGS/CELEBRATIONS; Laura Bilodeau, John Overdeck". New York Times. 13 October 2002. Retrieved 5 November 2018.
  11. ^ a b "John Overdeck". Inside Philanthropy. Inside Philanthropy. Retrieved 8 May 2017.
  12. ^ Vardi, Nathan (July 11, 2014). "Two Sigma Investments Is Having a Great Year And Becoming A Hedge Fund Powerhouse". Forbes. Retrieved 9 May 2017.
  13. ^ "John Overdeck And David Siegel Bio, Returns, Net Worth". Insider Monkey. Insider Monkey. Retrieved 9 May 2017.
  14. ^ Two Sigma. Two Sigma https://www.twosigma.com/contact. Retrieved 9 May 2017. Missing or empty |title= (help)
  15. ^ "Two Sigma Investments Llc". Octafinance. Retrieved 9 May 2017.
  16. ^ "John Overdeck Appointed to Institute for Advanced Study Board of Trustees". Institute for Advanced Study. Retrieved 2018-07-17.
  17. ^ "John Overdeck". Hamilton Group. Hamilton Group. Retrieved 8 May 2017.
  18. ^ Davis, Tom (March 21, 2017). "Meet New Jersey's 6 Billionaires In 2017". Millburn Patch. Retrieved 8 May 2017.
  19. ^ Flowers, Matt (October 13, 2016). "South Jersey looks to improve STEM ed". Courier Post Online. Retrieved 8 May 2017.
  20. ^ a b Kim, Leslie (October 9, 2018). "Wilson School fund established for education research". Daily Princetonian. Retrieved 16 October 2018.
  21. ^ "Behind a New Institute for Economic Mobility: Powerful Data and Billionaire Donors".
  22. ^ Schaffhauser, By Dian; 11/05/18. "Detailed Picture of 'Inequality of Opportunity' Emerges -". THE Journal.
  23. ^ "Grants Roundup: Duke University's Environmental School Receives $20 Million Grant". 10 October 2018.