Divorce-Battling Billionaire Buys $72M Palm Beach Estate

Hedge fund titan John Overdeck, co-founder of Two Sigma, has purchased a $72 million waterfront estate in Palm Beach, Florida, while his contentious divorce battle plays out in New Jersey. The 16,000-square-foot property, acquired through a Delaware shell company, dwarfs the approximately 6,000-square-foot home he formerly shared with his estranged wife, Laura Overdeck.

Overdeck, 56, is reportedly sharing the new Florida residence with Kimia Shadrokh, 42, a managing director at Peakstone and former commercial real estate executive. Both listed the Palm Beach address when registering to vote this spring, according to Florida records. Overdeck's attorney, Jonathan W. Wolfe, confirmed the relationship, stating that Overdeck "is now in a committed relationship with someone who he met long after this divorce process began."

The newly acquired estate is situated on nearly an acre in Palm Beach's exclusive north end and is said to have undergone a $20 million renovation. It features six bedrooms, 7.5 bathrooms, a grand hall with 26-foot ceilings, a travertine pool with a cabana, and 165 feet of waterfront access with a dock suitable for a large boat. The property's manager, Matthew Siano, previously spent about 20 years in legal and compliance roles at Two Sigma.

The purchase occurs as Overdeck's divorce from Laura, filed in March 2022 after nearly two decades of marriage and without a prenuptial agreement, continues in New Jersey Family Court. Overdeck, estimated by Forbes to be worth around $8 billion, has offered his wife $723 million in tax-free cash. He has testified that this figure is "fair," but Laura Overdeck is seeking 35% of his stake in Two Sigma, which her lawyer values at $6.2 billion, while his lawyers estimate it at $4.9 billion.

Overdeck's legal team argues that his Two Sigma stake is not marital property, as the firm was founded before their 2002 wedding. Conversely, Laura's lawyer, Theresa Lyons, has accused Overdeck of systematically working for decades to conceal his wealth, including allegations of transferring billions into Wyoming trusts with assistance from Two Sigma staff.

Legal proceedings have faced complications. Judge Bruce Buechler previously barred Laura Overdeck from testifying or presenting evidence after she allegedly accessed her husband's private post office box and computer, photographing emails with his lawyers. Her legal team is currently appealing this decision. Overdeck and Two Sigma co-founder David Siegel are also reportedly engaged in a dispute over control of the firm, with each owning approximately half.