John Overdeck

John Albert Overdeck (born 1969) 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]

John Overdeck
Born1969/1970 (age 49–50)[1]
NationalityAmerican
EducationStanford University
OccupationHedge fund manager
Known forCo-founder and co-chairman of Two Sigma Investments
Home townMillburn, New Jersey, US
Net worthUS$6.1 billion (May 2020)[1]
Spouse(s)
​
(
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

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][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

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.[16][8]

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

Wealth

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,[17][1] making him one of the highest-earning hedge fund managers and traders by Forbes.[9]

Board memberships

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

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.[21][1][17][20]

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

Philanthropy

In 2011, John and his wife Laura established the Overdeck Family Foundation, an organization that funds educational research and STEM education. [22] [3] [11] The foundation's overall goal is to enable all American children to unlock their potential by strengthening learning in and out of school. [23]

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. [24] Laura Overdeck is an alumna of Governor’s School and was instrumental in saving the program through private donations in 2006. [25] [26]

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. [23] 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. [27] [28] [29]

References
  1. "Forbes profile: John Overdeck". Forbes. Retrieved 28 May 2020.
  2. Vardi, Nathan (April 3, 2017). "The Machines Are Eating Wall Street". Forbes. Retrieved 8 May 2017.
  3. "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. "Highest-Earning Hedge Fund Managers 2017". Forbes. Retrieved 8 May 2017.
  8. "#529 John Overdeck $3.61B". Bloomberg. Bloomberg. Retrieved 8 May 2017.
  9. Vardi, Nathan. "The Highest-Earning Hedge Fund Managers And Traders". Forbes.
  10. "WEDDINGS/CELEBRATIONS; Laura Bilodeau, John Overdeck". New York Times. 13 October 2002. Retrieved 5 November 2018.
  11. "John Overdeck". Inside Philanthropy. Inside Philanthropy. Retrieved 8 May 2017.
  12. "Bloomberg - Are you a robot?". www.bloomberg.com.
  13. Vardi, Nathan (July 11, 2014). "Two Sigma Investments Is Having a Great Year And Becoming A Hedge Fund Powerhouse". Forbes. Retrieved 9 May 2017.
  14. "John Overdeck And David Siegel Bio, Returns, Net Worth". Insider Monkey. Insider Monkey. Retrieved 9 May 2017.
  15. "Contact". Two Sigma. Two Sigma. Retrieved 9 May 2017.
  16. "Two Sigma Investments Llc". Octafinance. Retrieved 9 May 2017.
  17. "Trio Of Millburn-Short Hills Men On Forbes Billionaires List". Millburn-Short Hills, NJ Patch. 7 March 2019.
  18. "John Overdeck Appointed to Institute for Advanced Study Board of Trustees". Institute for Advanced Study. Retrieved 2018-07-17.
  19. "John Overdeck". Hamilton Group. Hamilton Group. Retrieved 8 May 2017.
  20. "Bedtime Math". Bedtime Math. Bedtime Math Foundation. Retrieved 29 October 2019.
  21. Davis, Tom (March 21, 2017). "Meet New Jersey's 6 Billionaires In 2017". Millburn Patch. Retrieved 8 May 2017.
  22. Flowers, Matt (October 13, 2016). "South Jersey looks to improve STEM ed". Courier Post Online. Retrieved 8 May 2017.
  23. Kim, Leslie (October 9, 2018). "Wilson School fund established for education research". Daily Princetonian. Retrieved 16 October 2018.
  24. News, Suburban (5 August 2015). "Kean University grads among 2015 Woodrow Wilson Fellowship Winners". nj.
  25. "Top high school students study science at annual Governor's School" (PDF).
  26. "Hoping for a Strong Comeback, Governor's Schools Prep for 2013". NJ Spotlight. 3 December 2012.
  27. "Behind a New Institute for Economic Mobility: Powerful Data and Billionaire Donors".
  28. Schaffhauser, By Dian; 11/05/18. "Detailed Picture of 'Inequality of Opportunity' Emerges -". THE Journal.CS1 maint: numeric names: authors list (link)
  29. "Grants Roundup: Duke University's Environmental School Receives $20 Million Grant". 10 October 2018.
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