Jeffrey Epstein fortune

Short introduction

Jeffrey Edward Epstein had over $ 500 million in assets as an investment banker. He was in high society for a long time and made numerous contacts. He gained fame because of his conviction as a sex offender. After he was again charged with sexual abuse and sex trafficking with minors in 2019, he committed suicide in his cell, according to official sources.

Early life

Epstein was born in New York in 1952 and grew up in the west of Coney Island in Brooklyn. He went to Lafayette High School and then attended Cooper Union College, from which he was referred in 1971. He then studied mathematics at New York University for three years, but did not graduate.

Even without a final qualification, he was hired as a math and physics teacher at a private school in Manhattan. There he made friends with the children of Alan Greenberg, the then board member of the investment bank Bear Stearns. Epstein was hired there in 1976. He learned from Greenberg in the years that followed and eventually became a limited partner within the bank in 1980.

Career

In 1981, he founded the wealth management company J. Epstein & Co. Epstein’s own statements, and his exclusive clientele consisted of billionaires, whose names never became known. Only the billionaire Leslie Wexner had a proven business relationship with Epstein.

In 1992 the Wexner Foundation added Jeffrey Epstein to its board. Wexner, who had given his business partner general power of attorney for his foundations and trusts in 1991, also gave Epstein a 2000 m² city villa in Manhattan worth around $ 77 million in 1996. In the same year, Epstein relocated his company to the US Virgin Islands, which was considered a tax haven. In 1998 he acquired the private island of Little Saint James there.

In the following years, Jeffrey Epstein organized numerous parties on this very island, to which he invited friends and acquaintances – many of them celebrities from the worlds of politics, business and entertainment. In the course of these parties, underage girls are said to have been present, who are said to have been forced by Epstein and his acquaintance Ghislaine Maxwell to have sexual intercourse with him and his guests.

After around 50 alleged victims of Epstein reported to the police and a subsequent search of his villa led to the discovery of numerous pictures of underage girls, he had to answer to a grand jury in 2006. In the course of an out-of-court settlement, he pleaded guilty in one case to having forced a minor into prostitution, but avoided a serious conviction for trafficking in human beings. He was given a short sentence of 18 months.

As part of the investigation into the allegations of abuse, Epstein lawyers claimed his fortune would total over $ 1 billion. It is believed that he lost large sums of money during the financial crisis. Furthermore, some of his financially strong friends are said to have broken off contact with him after his conviction. Nevertheless, Epstein reportedly managed to close a number of lucrative deals in the following years.

In July 2019, Jeffrey Epstein was arrested again for allegations of abuse. Between 2002 and 2005 he was accused of running a sex trade ring with hundreds of underage girls together with Ghislaine Maxwell. The case attracted media attention worldwide as numerous prominent figures such as Bill Clinton and Prince Andrew were implicated as close friends of Epstein.

On August 10, 2019, Jeffrey Epstein was found unconscious in his prison cell. His death was officially classified as suicide. Two days before his death he had drawn up a will in which he had transferred his assets of the equivalent of 520 million euros to a trust fund.

Career highlights

Little is known about Jeffrey Epstein’s assets and financially particularly lucrative business. Many of his former business partners have remained anonymous to this day, and much of his wealth has been hidden in confused offshore accounts over the years. According to Bloomberg News, the only part of Epstein’s assets that can be quantified with some certainty is his real estate.

Famous quotes

“I invest in people – whether politics or science. That is what I do. ”

“If it was my overriding goal to remain unmolested, the trip with Clinton was a bad move. I see that now. But do you know what? Kasparov also makes mistakes. ”

Amazing facts

– His city villa was the largest private residence in Manhattan.

– According to Alexander Acosta, the former U.S. Secretary of Labor and former Prosecutor General who was responsible for Epstein’s first trial, Jeffrey Epstein was connected to intelligence agencies.

– The property on Epstein’s Little Saint James Island, which served as the location for many of his private parties, is equipped with numerous small video cameras. According to the U.S. Department of Justice and Epstein’s own testimony, he made records that his guests recorded with minors so that in case of doubt they could be blackmailed.