Wall Street hotshot’s downfall deepens as bankruptcy filing lists guinea pigs, Apple watch among assets
Jason Ader reportedly owes roughly $2M to creditors including his estranged wife and 82-year-old mother
A hot-shot hedge fund manager admitted last month that the once-wealthy entrepreneur has just $240,000 left in assets, following a cascade of financial setbacks, including defaulting on a mortgage placed on his family’s $13 million home, being sued by his mother and leading a failed multibillion-dollar casino takeover.
Jason Ader, a former Wall Street activist investor known for unseating Marissa Mayer as CEO of Yahoo in 2017, disclosed $1,700 in cash, a Tesla Cybertruck, a Glock G26, an Apple Watch valued at $250 and two guinea pigs worth $25 each, according to court filings dated Jan. 16.
The 59-year-old owes roughly $2 million to creditors, including his estranged wife and 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 non-insider creditors, documents show.
The latest court appearance comes after Ader appeared to maintain a lavish lifestyle despite mounting financial troubles. During the telephone conference, he reportedly acknowledged being able to maintain a $6 million, four-bedroom Miami condo in the same building where English soccer star David Beckham, co-owner of MLS team Inter Miami, also owns a property.
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Jason Ader, co-chief executive officer at Owl Spring Asset Management, speaks at 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 is owned by one of his companies, 826 Capital Holdings LLC, which places it outside his personal bankruptcy proceedings, the NYP said.
In 2024, he also spent roughly $370,000 during a spending spree in the south of France, just months before his 82-year-old mother, Pamela, sued him for leaving his late father’s Upper East Side estate liable for the debt, the outlet added.
Ader, who reportedly filed for personal bankruptcy in Florida in December, earns roughly $25,000 a month from the Israeli-based cybersecurity firm Qyprotnic LLC, according to documents.
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Jason Ader and Hana Ader attend the 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 Cybertruck, which he values at $70,000, according to the NYPost.
The outlet added that when asked how he ended up in financial trouble, Ader said: "It’s a combination of the divorce proceedings, a long-standing family dispute, which relates to the activity around the townhouse, and an unexpected IRS liability that I am working through. I am looking to reorganize my debts and then emerge with a plan."
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Jason Ader, chief executive officer and chief investment officer at Ader Investment Management LLC, participates in a panel discussion in New York on Dec. 5, 2012. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
Ader also emphasized that he has paid roughly $1 million in housing support for his estranged 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 the agreed 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 entered an agreement to buy the Okada Manila casino in the Philippines for $2.6 billion. In the failed takeover, Austrian billionaire Harald McPike reportedly alleged that Ader scammed him out of $25 million in the deal.