Billionaire divorce trial over Two Sigma stake heads to New Jersey court

A New Jersey judge is presiding over the divorce trial of billionaire hedge fund founder John Overdeck and his estranged wife Laura, who is seeking a $6.2 billion settlement that would rank as the third-largest in U.S. history. The couple, married for 20 years without a prenuptial agreement, is battling over whether his stake in the $80 billion firm Two Sigma is a marital asset. John Overdeck testified he offered approximately $600 million, arguing his wife deserves a smaller share of the firm's appreciation during their marriage. Laura Overdeck contends the firm was a paper asset when they wed and is seeking a 35% stake, while her lawyer claims he offered $633 million. The trial follows her 2022 divorce filing, which alleged he conspired to hide assets. The case has exposed personal accusations, including a judge barring Laura Overdeck from testifying over alleged evidence tampering. A win for her could also tip the balance of power at Two Sigma, where John Overdeck has been battling co-founder David Siegel for control since 2023.