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| 3. (tie) John Overdeck / $750 million | ||
| Title: Co-founder and co-chairmanFirm: Two Sigma (New York)Age: 482016 Rank: No. 3 (tie)2016 Earnings: $750 million2015 Rank: No. 7 (tie)2015 Earnings: $500 millionYears on list: 2 | Source of BS in mathematics, Stanford | |
In relatively quiet fashion, Two Sigma has emerged as one of the world’s most elite hedge funds — and now it’s one of the most lucrative. Assets surged more than 27 percent last year, to nearly $40 billion, placing the firm in the top ten globally. Part of the reason is Two Sigma’s Compass Fund, which rose 10.3 percent in 2016 and has never suffered a loss. Little surprise, then, that co-founders John Overdeck and David Siegel each made $750 million, tied for third place in this year’s Rich List.
The Compass Fund’s strategy initially existed in other portfolios, and the fund was launched as a stand-alone fund in 2009. It trades hundreds of markets, stressing futures on stock indexes, fixed income, commodities, and currencies. Overdeck and Siegel met at legendary quant firm D.E. Shaw & Co., where Overdeck headed Japanese equity and equity-linked investments, and supervised the firm’s London investment management affiliate. Before launching Two Sigma he spent two years at Amazon.com, initially serving as a technical assistant to founder Jeff Bezos and eventually leading customer relationship management.
Overdeck won a silver medal for the U.S. in the 27th International Mathematical Olympiad. Indeed, math is in his genes: His father was a senior mathematician at the National Security Agency. His wife, Laura, meanwhile, is founder and president of the Bedtime Math Foundation, a nonprofit that helps instill a love of math in kids. Overdeck is vice chair of the National Museum of Mathematics and serves on the board of the Robin Hood Foundation. Last year the Overdeck Family Foundation and the Bezos Family Foundation teamed up to give a $15 million challenge grant at Robin Hood’s gala annual event.
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