A few years ago, Ellen Pao’s discrimination lawsuit against a Silicon Valley venture capital fund was heavily promoted in the national press as proving that the only reason most tech founders are male is because of bias. But then she lost bigly.
Now Pao is divorcing her gay black disgraced financier husband Alphonse “Buddy” Fletcher. After all these years, I still can’t find a photo online of these two in the same picture where they weren’t photoshopped together. The New York Post has the details:
Buddy Fletcher and Ellen Pao’s marriage ending with mudslinging and acrimony
By Carleton English and Emmett Berg August 16, 2019 | 10:34pm
Buddy Fletcher is so broke he can’t afford his divorce from Ellen Pao, The Post has learned.
The former high-flying hedge fund manager — who once rubbed elbows with Lauren Bacall and Roberta Flack — has no lawyer and is representing himself in a divorce from Pao, the former interim CEO of Reddit. He claims in court papers that the divorce, which is ongoing, left him “homeless” at one point, including a period of living in his car.
The couple — known as much for Pao’s Silicon Valley gender discrimination claims as Fletcher’s financial downfall — have been slowly working toward dissolution of their marriage in San Francisco state court since 2017, but they appear no closer to the end than they did two years ago. …
Fletcher, whose worth was once estimated at $150 million, made headlines in 2011 for suing the Dakota, where John Lennon was shot. The Harvard graduate had already been approved to buy four apartments in the Dakota, including one for his mother. At the time he filed suit he claimed he was refused permission to buy a fifth apartment because he’s African-American.
The case was ultimately dismissed — but not before it was reported that the Dakota rejected Fletcher for a fifth apartment because of his investment firm’s “apparent lack of profitability.”
Not long after that, Fletcher started facing questions from investors, including three Louisiana pension funds that had invested with Fletcher Asset Management on promises of double-digit returns. That kicked off a series of legal battles and bankruptcy filings that ended up detonating Fletcher’s reputation as a financial wizard.
After his main fund filed for bankruptcy in 2012, it emerged that he had been insolvent for years and had misspent investors’ money, including $8 million to produce “Violet & Daisy,” a film directed by his Oscar-winning writer brother.
Those details came out in a 2013 report by the Manhattan federal bankruptcy trustee, who likened the case to “a Ponzi scheme.”
Pao, 49, lost her explosive sexual harassment suit against venture capital firm Kleiner Perkins in 2015.
Days before the filing, she moved out of the luxury apartment they shared in downtown San Francisco into a new place she had just purchased at the Ritz-Carlton Club and Residences on Market Street. …
Fletcher has also asked the court to order Pao to keep distance from him, his home and their daughter, alleging Pao “has threatened more than once to flush our daughter’s fish down the toilet as a punishment which led to our daughter crying.” …
The former hedgie has argued for spousal support on the grounds that he supported Pao for the first few years of the marriage — and now it was her turn to support him.
Pao’s “income has averaged more than $2,000,000 per year for the past three years,” he said. By contrast, he was “homeless and without counsel, at risk of losing my physical health,” he told the court. …
“This case is not really about support,” Pao told the judge earlier this year. “Rather, it is about Buddy’s need for money to pay off the judgment against him and his businesses,” she said, referring to a $213 million judgment issued against him by a New York state court, as well as a $1.5 million judgment by the IRS. …
His Connecticut castle failed to sell for years, and was recently sold by the bank for $1.6 million — down from the $6 million it was listed at in 2017, records show. …
Pao, who is now the CEO of her own diversity nonprofit, Project Include, tried to keep all the mud-slinging private by asking the court to seal the case, but was denied.