BILLIONAIRE BUSINESSMAN, JOHN OVERDECK'S WIFE DEMAND $6.2 BILLION IN DIVORCE SETTLEMENT AFTER HE OFFERS JUST ONE-TENTH OF HER REQUEST
The divorce battle between billionaire hedge fund manager John Overdeck and his wife, Laura Overdeck, has begun in a Newark courtroom, with Laura seeking a multibillion-dollar share of his fortune. Laura is asking for 35% of her husband’s stake in Two Sigma Investments, which her lawyer values at about $6.2 billion, along with hundreds of millions of dollars in bonds and equal control of the family foundation. Her legal team claims John offered her about $633 million, describing it as an attempt to give her as little as possible. However, John’s lawyer disputed this, saying he offered a $723 million tax-free equitable settlement. The major issue in the case is whether John’s stake in Two Sigma should be considered a marital asset. John’s lawyers argue that the hedge fund was founded two years before the couple married in 2002 and had already become an established business. Laura’s lawyers, however, contend that Two Sigma had little tangible value when...