Born January 20, 1953, in New York City, Jeffrey Epstein was an American financer, sexual predator, and convicted sex offender. Because of the work he did, Jeffrey had a lot of high profile friends in executives, politicians, and even royalty. Intrigued to know more about his life, how he earned his money, and his overall net worth? Keep reading!
How Did Jeffrey Epstein Earn His Money?
After graduating high school, Jeffrey attended the Courant Institute of Mathematical Sciences at New York University but left in 1974 before he could obtain his degree. Following this, he became a physics and mathematics teacher at the Dalton School in Manhattan before leaving to join Bear Stearns as an assistant. He eventually became an options trader for the firm before becoming a limited partner in 1980.
A year later, after he was asked to leave his position at Bear Stearns, Jeffrey founded his own consulting firm, Intercontinental Assets Group Inc. (IAG), which helped clients recover their money from brokers or lawyer. This gained him a lot of high profile clients and helped him make connections in the industry.
In 1988, while Jeffrey was working with Steven Hoffenberg as a consultant for Tower Financial Corporation, he founded another firm, a financial management firm, by the name of J. Epstein & Company. The aim of the firm was to help high profile clients, worth more than $1 billion, manage their assets. The only non-anonymous client of his was the chairman and CEO of L Brands, Leslie Wexner. In 1996, Jeffrey changed the name of his firm to The Financial Trust Company, and for tax advantages, based it in the Virgin Islands.
Jeffrey required his clients to give him full control over the money that would be invested, and they would have no say on how it would be used. He reportedly earned $100 million per year at the peak of his career by charging a fee instead of taking a percentage of the gains. Along with all this, later on, from 2000 to 2007, Jeffrey was also the president of the company Liquid Funding Ltd.
Most of Jeffrey’s earnings, though, have been through his financial investments over the years. His investment of $80 million in the D.B. Zwirn Special Opportunities hedge fund grew into $140 million in a few years. And his $57 million investment in the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage hedge fund was worth around a billion dollars in 2007. But, when the company collapsed, he lost most of his investment money in it.
Jeffrey Epstein Net Worth 2020
After he was arrested for his sexual misconduct and on federal charges for the sex trafficking of minors in both Florida and New York, he signed a will that laid out Jeffrey Epstein’s net worth as of 2020 to be $577 million. This was two days before he committed suicide. His net worth was an accumulation of $56 million in cash, $113 million in equities, $14 million in bonds, $195 million that was invested with hedge funds, and a total of six properties worldwide worth $178 million when combined. This did not include his assets which were in a trust.
Read More: Where is Jeffrey Epstein Island Located