Millburn, NJ

The second richest person in New Jersey

Luay Rahil
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Milburn is a beautiful residential community in New Jersey located 20 miles west of New York.

Only 20,170 people consider Milburn home. However, it is one of the wealthiest towns in New Jersey. The median household income is $225,227, and the median property value is $1,130,100.

One of the richest people in Milburn is John Albert Overdeck. His net worth exceeds $6.8 billion, making him the 126th richest person in the country and the second richest in New Jersey.

Who is John Overdeck?

John Albert Overdeck is an American hedge fund manager, math genius, and philanthropist.

In 1970, John Overdeck was born in Maryland. His father, Dr. John M. Overdeck, was a retired senior mathematician for the National Security Agency in Maryland. His mother, Betsey Lombard Overdeck, was a director of Computer Sciences Corporation.

When he was 16, he won the silver medal at an International Mathematics Olympiad. He earned his bachelor's degree in mathematics and a master's degree in statistics from Stanford University.

After graduating from Stanford University, He worked as a managing director at D.E. Shaw & Co. He later joined Amazon and became a vice president at the company.

According to Paul Weinstein, "John Overdeck is a technical wizard who combined his math skills with machine learning to help predict market forces."

John Overdeck developed Two Sigma, a quantitative trading powerhouse.

His job at Amazon helped him make a lot of money, so he left and co-founded Two Sigma Investments with David Seigal, a company that develops trading systems for its clients.

Today, Two Sigma is a powerhouse with $60 billion under management. In 2002, Overdeck married Laura Bilodeau, a principal consultant at Stanford Research Institute. The couple has three children living in Millburn, New Jersey.

John and Laura founded the Overdeck Family Foundation.

In 2011, Overdeck and his wife Laura established the Overdeck Family Foundation, funding educational research and STEM education.

John says, "We need to ensure that today's children experience strong foundations for early learning, exceptional educators, student-centered learning environments, and engaging out-of-school opportunities."

John Overdeck's political donations

Overdeck loves to keep his political contribution local and reasonable.

The Street reported Overdeck donated 10,000 to the New Jersey Republican State Committee and $2,700 to New Jersey former Governor Chris Christie in 2016.

In 2020, John Overdeck donated $2,800 to Rikin Mehta. However, he keeps his political contributions small relative to his income.

If you had his money, what causes would you support?

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