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A prominent hedge fund manager admitted last month that the once-wealthy entrepreneur was left with just $240,000 in assets, following a cascade of financial setbacks including defaulting on a mortgage on the family’s $13 million home, being sued by his mother and leading a multibillion-dollar casino takeover.
Jason Ader, a former Wall Street The activist investor known for ousting Marissa Mayer as CEO of Yahoo in 2017, disclosed $1,700 in cash, a Tesla Cybertruck, a Glock G26, an Apple Watch worth $250 and two guinea pigs worth $25 each, according to court filings dated Jan. 16.
The 59-year-old owes about $2 million to his creditors, including his ex-wife and her mother, according to court filings and a court-ordered call with creditors last week, the New York Post reported. Of that total, about $101,000 is owed to uninitiated creditors, documents show.
The latest court appearance comes after Ader appeared to maintain a lavish lifestyle despite growing financial difficulties. During the conference call, he reportedly admitted to being able to maintain a four-bedroom apartment in Miami worth $6 million in the same building where English soccer star David Beckham, co-owner of MLS team Inter Miami, also owns property.
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Jason Ader, co-chief executive officer of Owl Spring Asset Management, speaks during the Reuters Global Investment Outlook Summit at the Thomson Reuters Building in New York, November 20, 2013. (Reuters/Mike Segar)
Ader told creditors that the condo was owned by one of his companies, 826 Capital Holdings LLC, which places him outside of his personal bankruptcy proceedings, the NYP said.
In 2024, he also spent about $370,000 on a spending spree in the south of France, just months before his 82-year-old mother, Pamela, sued him for leaving her late father’s Upper East Side property responsible for the debt, the outlet added.
Ader, who allegedly filed a request personal bankruptcy in Florida in December, earns about $25,000 a month from Israel-based cybersecurity company Qyprotnic LLC, documents show.
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Jason Ader and Hana Ader attend Pérez Art Museum Miami Art of the Party at Perez Art Museum Miami on March 12, 2022 in Miami, Florida. (Jason Koerner/Getty Images for PAMM)
He pleaded with the Miami court, which is still deliberating the case, not to seize his wardrobe, estimated at $10,000, and his 2024 Tesla Cybertruckwhich he values at $70,000, according to the NYPost.
The outlet added that when asked how he ended up in financial trouble, Ader responded, “It’s a combination of the divorce proceedings, a long-standing family dispute related to activity around the townhouse, and an unexpected liability from the IRS that I’m working on. I’m looking to reorganize my debts and then emerge with a plan.”
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Jason Ader, president, CEO and chief investment officer of Ader Investment Management LLC, participates in a panel discussion in New York on December 5, 2012. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
Ader also noted that he paid about $1 million in housing assistance for his ex-wife, Julie Ader, and up to $3 million for his five children, the outlet said. Despite the reported payments, a New York court ruled in 2023 that he failed to pay agreed-upon child support for four of his children, in violation of court orders and his prenuptial agreement, according to the NYPost.
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In 2021, Ader also reached an agreement to purchase the Okada Casino Manila in the Philippines for $2.6 billion. When the takeover failed, Austrian billionaire Harald McPike reportedly claimed that Ader cheated him out of $25 million in the deal.
