Entitled Wives, hidden assets, who gets the big house and other common themes in hedge fund divorces.
Brian Jackson/Brian Jackson
The ubiquity of divorce in the hedge fund world is matched only by the sameness of how it is covered by the media. Juicy tales served up in legal papers about the combusted marriages of billionaire hedge fund players like David Tepper and Steve Cohen make for great headlines, after all.
Just this summer, news broke that Tepper would be divorcing his wife of 30 years, Marlene, prompting news outlet to carefully dissect who will get the couple's enormous Hamptons mansion, complete with pictures of the sprawling estate of course.
Meanwhile, in the United Kingdom, hedge fund titan Christopher Hohn and his soon-to-be ex-wife Jamie Cooper Hohn are battling it out in what could smash records to become the country's first billion-dollar divorce.
Here is a sampling of how the media has covered these tales of misfortune among the fortunate over the years:
"My hedge fund boss ex-husband is hiding his millions to minimise my payday."
— The Daily Mail , July 1, 2014
Christopher Hohn vs. Jamie Cooper Hohn
Christopher Hohn founded The Children's Investment Fund Management, and is divorcing his wife after nearly 20 years of marriage. The couple, which has four children, is fighting over $1.3 billion in marital assets, with Cooper Hohn claiming that though she and her husband live a modest "Swatch lifestyle" in England, he is trying to downplay the extent of their wealth.
"Daugherty also claims in court papers that Dondero asked him to lie at an earlier hearing and tell the court Dondero was not hiding assets."
— The New York Post , October 23, 2013
Dondero vs. Dondero
James Dondero, giraffe-eating founder of Dallas-based hedge fund Highland Capital Management went to battle with his wife Becky in a bizarre divorce case that included claims of infidelity and partying in Aspen, and in which a hedge fund colleague became embroiled to help James Dondero claim insolvency.
"Patricia charged that at the time of their divorce, in 1990, Steve cheated her by hiding assets. But her suit didn't merely seek financial redress; it was also a stinging personal attack, portraying Steve as not only cheap and deceitful but shady and secretive, a person."
— New York Magazine , March 28, 2010
Cohen vs. Cohen
Steve Cohen is the disgraced hedge fund manager whose SAC Capital Management closed its doors earlier this year due to an insider trading probe that found some employees liable, though Cohen escaped charges.
But hiding assets can go both ways.
"Daniel Shak claims Beth Shak never told him about her stockpile of 1,200 pairs of designer shoes when they divorced three years ago. The finance titan, who had shared a Fifth Avenue pad with Beth, claims that she hid the collection from him — possibly in a 'secret room' — and that its value may entitle him to hundreds of thousands of dollars more in their divorce settlement."
— New York Post , June 23, 2012
Shak vs. Shak
The couple are both professional poker players, but before his turn at the tables, Daniel founded the hedge fund SHK, which has since closed down, when the SEC fined and banned Shak from trading for illegal bets he made in 2008 during commodities trades.
"This is not some get-rich-quick scheme. And I doubt Mr. Soros would spend five years of life with a golddigger."
— New York Daily News , August 11, 2011
Ferreyr vs. Soros
George Soros and Brazilian soap opera star Adriana Ferreyr had an on-again off-again relationship, but never married. Over the course of her crusade for an apartment she claimed Soros promised her, Ferreyr publicly called Soros, king of the hedge fund industry, an "asshole" and a "piece of shit."
"James Dondero's lawyers may counter that Becky has "unclean hands" because she is suing for breach of contract after she was also found to have violated the prenup. It's a defense I am sure his legal team will raise and say she's entitled to nothing."
— The New York Post , November 29, 2013
Dondero vs. Dondero
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