Last Updated on July 23, 2021
Who Is Jeffrey Epstein?
Jeffrey Edward Epstein was an American banker, financier, financial consultant, teacher, and convicted sex offender.
Epstein started his professional life as a teacher. He later switched to the banking and financial sectors where he accepted numerous jobs, including working at Bear Stearns, before founding his own company.
Jeffrey Epstein lived a rather controversial life during the height of his career. He developed an elite social circle through which he procured many women and children with whom he ended up engaging in illicit sexual affairs.
In 2005, police in Palm Beach, Florida, started investigating allegations by a parent who complained that Epstein had sexually molested her 14-year old girl. The crimes allegedly took place in Epstein’s Manhattan and Florida homes between 2002 and 2005.
After three years of successful investigations, Epstein was eventually charged for the said offenses. He was found guilty by a Florida state court on two counts – procuring a child for prostitution as well as soliciting a prostitute.
Epstein subsequently served 13 months in custody after entering a controversial plea bargain. But on July 6, 2019, he was once again arrested and charged for sex trafficking of minors. On August 10, 2019, Epstein was found dead in his Manhattan jail cell in an apparent suicide.
|Full Name:||Jeffrey Edward Epstein|
|Popular Name:||Jeffrey Epstein|
|Birth Date:||January 20, 1953|
|Age:||66 (at the time of his death on August 10, 2019)|
|Parents:||Seymour G. Epstein and Pauline Stolofsky Epstein|
|Birth Place:||New York City, New York|
|Education:||Public School 188, Mark Twain Junior High School, National Music Camp at the Interlochen Center for the Arts, Lafayette High School, Cooper Union, and the Courant Institute of Mathematical Sciences at New York University|
|Marital Status:||Unmarried but was romantically associated with Swedish physician Eva Andersson-Dubin and British socialite Ghislaine Noelle Marion Maxwell|
|Net Worth:||USD 557 million (as of August 10, 2019)|
|Source of Wealth:||Entrepreneurial Ventures|
|Height:||6′ 0″ (1.83 m)|
|Weight:||82 kg; In pounds: 181 lbs.|
Jeffrey Epstein was born on January 20, 1953, in New York City, New York, to Seymour G. Epstein and Pauline Stolofsky Epstein.
Epstein attended Public School 188 and then transferred to Mark Twain Junior High School. He later attended the National Music Camp at the Interlochen Center for the Arts and eventually graduated from Lafayette High School.
After graduating from high school, Epstein attended Cooper Union before transferring to the Courant Institute of Mathematical Sciences at New York University in 1971. He left college in June 1974 before receiving his degree.
During his earlier years, Jeffrey Epstein worked as a gardener and groundskeeper for the New York City Department of Parks and Recreation.
Jeffrey Epstein kicked off his professional career in 1974 as a mathematics and physics teacher at the Dalton School in Manhattan. In June 1976, Epstein lost his teaching job on account of poor performance.
After leaving the Dalton School, Epstein started working at Bear Stearns as a junior assistant to a floor trader. But thanks to his hard work and determination, he was able to rise through the ranks to become an options trader. In 1980, Epstein became Bear Stearns limited partner. However, he was dismissed from the company the following year on allegations of ‘reg d violation.’
In August 1981, Jeffrey Epstein founded his very own consulting firm known as Intercontinental Assets Group Inc. (IAG). The company assisted its clients in recovering money lost through theft or fraudulent lawyers and brokers.
In 1987, Jeffrey Epstein was hired by Steven Hoffenberg as a consultant for Towers Financial Corporation. Epstein reportedly earned a monthly salary of $25,000 for his consulting work. In 1993, Towers Financial Corporation lost its reputation after it emerged that the company was merely a Ponzi scheme. What followed was a mass exodus of investors which resulted in the company losing over $450 million. However, Epstein had already left the company by 1989.
In 1988, Epstein founded his own financial management company, J. Epstein & Company. According to Epstein, the company managed assets for several billionaire clients.
Other notable ventures by Jeffrey Epstein over the years include:
• Serving as the president of Liquid Funding Ltd. from 2000 to 2007
• Investing $80 million in the D.B. Zwirn Special Opportunities hedge fund from 2002 to 2005
• Investing $57 million in the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage hedge fund in August 2006
• Investing in the Israeli startup Reporty Homeland Security in 2015
• Investments in numerous real estate properties
Jeffrey Epstein’s Net Worth
As at the time of his death on August 10, 2019, Jeffrey Epstein had a net worth of $557 million. But Epstein’s rather shady investment record made it difficult to peg his actual net worth. According to some sources, the financier might have been a billionaire at the time of his death.
Epstein’s wealth came from his highly successful financial investment career. At the peak of his career, he reportedly earned $100 million annually from his various endeavors.
Epstein was also a real estate mogul who flipped properties worth millions of dollars. In 1998, Epstein purchased a property in the Upper East Side of Manhattan for $20 million. By 2019, the property was valued at $77 million.
Other notable real estate properties by Jeffrey Epstein include:
• A home in Palm Beach, Florida, purchased in 1990
• A 7,500-acre ranch named “Zorro Ranch” located in Stanley, New Mexico, purchased in 1993
• A private island called “Little Saint James” located in Saint Thomas, U.S Virgin Island
• Seven units in an apartment building located near the Arc de Triomphe in Paris, France
What became of Epstein’s wealth after his death?
On August 8, 2019, just two days before Epstein reportedly committed suicide, he signed a will that gave his entire $557 million net worth to his brother Mark.
According to the will, Epstein had $56 million in cash, $195 million in hedge funds investment, $113 million in equities, and $14 million in bonds. The will also outlined six high-end properties with a combined value of $178 million.
Lessons from Jeffrey Epstein
1. Not every successful person is born with a silver spoon in their mouth
Jeffrey Epstein was filthy rich at the time of his death. But Epstein wasn’t born into affluence. At some point in his life, he worked odd jobs, including as a gardener and groundskeeper for NYC’s Department of Parks and Recreation.
2. Take charge of your investments
At the height of his investment career, Epstein required his clients to give him full control over their assets.
3. Pleasure without conscience is a dangerous thing
This is probably the biggest negative lesson we can learn from Jeffrey Epstein’s rise to success. Despite his incredible business acumen, Epstein couldn’t curb his appetite for young girls. And that’s how he disgraced his name and reputation.
Famous Quotes by Jeffrey Epstein
“I invest in people — be it politics or science. It’s what I do.”
“I like to hear voices and see faces when I interact.”
“I want people to understand the power, the responsibility, and the burden of money.”
“If my ultimate goal was to stay private, traveling with Clinton was a bad move on the chessboard. I recognize that now. But you know what? Even Kasparov makes them. You move on.”
“The behavior of termites, together with ants and bees, is a precursor to trust because they have an extraordinary ability to form relationships and sophisticated social structures based on mutual altruism even though individually they are fundamentally dumb. Money itself is a derivative of trust. If we can figure out how termites come together, then we may be able to better understand the underlying principles of market behavior—and make big money.”
Jeffrey Epstein was an American financial investor and consultant who had a net worth of $500 million prior to his controversial death in his prison cell on August 10, 2019. Although Epstein was an investor to look up to, he ultimately ruined his reputation after he was convicted of child prostitution.