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This is an FBI investigation document from the Epstein Files collection (FBI VOL00009). Text has been machine-extracted from the original PDF file. Search more documents →

FBI VOL00009

EFTA01158339

31 pages
Pages 1–20 / 31
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It's an absurdly vast house, among the largest in 
Manhattan, but the dining room is windowless, creating 
a hermetic or stop-time sense, broken only by the 
household staff ferrying in time-of-day-appropriate 
foods and beverages. 
In sweatshirt, draw-string pants, palm beach 
slippers, and half glasses, Jeffrey Epstein sits at the head 
of the table. He spends most of his day in the dining 
room in front of a laptop and beside a row of reading 
glasses (there are a lot of them in case, apparently, he 
misplaces a pair, but being quite meticulous he never 
does) advising or instructing a startling collection of the 
rich and powerful, who are slotted in on an hourly basis. 
The apartness of Epstein's dining room might seem 
to offer some buffer for a super rich man who attends to 
even more fabulously rich men (and the occasional 
extremely rich woman). But with the paparazzi often 
posted near by, the outside world seems dangerously 
close too. Once I arrived for a visit and found several 
police cars blocking the street and thought the worst—
they'd come for Jeffrey. But it was a security detail for a 
controversial head of state who was visiting him. 
His subject, on this morning in early November 
during a set of interviews he's agreed to have with me 
about his life and views, is "hyper wealth." His subject 
is always wealth—how capital should react to the given 
global political, economic, and cultural moment. The 
baronial quality of the dining room is disturbed only by 
an ever-present white board, whereon he scribbles 
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calculations and notes, a tool he uses to conduct one of 
the world's most rarified economics class, attended 
often by the world's finance ministers and foremost 
economists. 
His stock in trade is not precisely the making of 
money, but the issues that arise when money, at a 
heretofore unimaginable rate, makes itself, altering 
many basic economic, social, and personal calculations. 
He recounts a dinner he had two nights before. The 
scene is, like much of what he does, a conspiracy 
theorist's fantasy. The six men at this dinner, all 
technology entrepreneurs, represented, together, several 
hundred billion dollars and they are deciding how to use 
it to alter the world to their liking. 
"In the past, only governments had this kind of 
money, money of a reality altering scale," says Epstein 
conversationally, but making a pedagogical point. "In 
fact, it used to be that the rich, reaching a certain point 
of philanthropy, merely hoped to help make the world a 
better place, now they want to change the world. 
Rockefeller and Carnegie were, as examples of social-
engineering philanthropy, unique. They alone had such 
resources and will. Now you have legions of people who 
have to give away vastly larger fortunes than 
Rockefeller or Carnegie had at their disposal, or might 
even have imagined. 
"Except that it's actually hard to give away this 
kind of wealth, without unintended consequences that 
can cause more problems than you're solving." 
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Epstein's long-time business thesis is that the rich 
know very little about money. They may know about 
their own businesses, but the great sums that are the 
result are ultimately an afterthought and demand an 
entirely different sort of intellectual discipline. The 
Forbes 400, says Epstein, not immune to an amount of 
wonder, increased their wealth by $500 billion last year, 
meaning, in effect, that on average every Forbes-list 
billionaire makes more than another billion every year. 
And, points out the 62-year-old Epstein, they will 
almost all be dead in 40 years, most well before that, 
meaning $4.2 trillion, compounding everyday, will have 
to be given away. "So, to understand the future, what 
you have to begin to do is follow the money, not in 
Watergate-like terms backwards, as in who has gotten it, 
but forwards to where it will go and who will get it." 
Epstein can find himself echoing aspects of 
Thomas Piketty on the inequities of the accumulation of 
wealth ("the divide is between people with assets, which 
appreciate, and people without assets, who fail to 
advance—that is, of course, the miracle of compounded 
interest"), except for the fact that Epstein, knowing the 
rich, understands a point that Piketty doesn't: "Nobody, 
nobody, wants to give it all to their children. Everybody 
now has the modern appreciation that one of the curses 
of great wealth is that it can make your kids weird and 
fucked up." 
Epstein's position in this private allotment of a 
decent fraction of the U.S. Gross Domestic Product is 
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not as a philanthropist but as a sort of adviser or guru or 
brain—a rich whisperer—making him, in addition to 
rich himself, arguably among the most influential people 
you've never heard of. 
Though, likely, you have heard of him—not for his 
prowess with high abstraction, but for a scandal of such 
luridness that he is, for a great many, the poster child for 
the lawlessness of privilege. He is that Epstein, sent to 
jail in 2008 in Palm Beach on a prostitution charge, 
based on the complaints of over a dozen underage girls, 
with, ever since, periodic reminders of his notoriousness 
in the tabloid press. 
And yet the mighty and powerful, disregarding his 
sex offender status, have still beat a path to his door. It's 
a fantastic conclave of influence in his dining room: 
financiers, billionaires, heads of state, economic 
ministers. This includes, hardly least of all, Bill Gates, 
for whom Epstein has become a key advisor. [TKTK 
WHAT HE IS DOING FOR THE BILL AND 
MELINDA GATES FOUNDATION.] 
Hence, as part of an effort to get "out in front" of 
the notice that might be expected to greet Gates' public 
association with him, Epstein—who I first met in 2002 
as part of a group of TED partcipatants he was ferrying 
on his plan to west coast—agreed in early fall to these 
on the record conversations with me. 
When we began to talk for this piece, Epstein was 
still hoping that, beyond his private confines, he might 
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finally, five years after his release from prison, be able 
to start rebuilding his public reputation. 
Then, just before the New Year, Epstein forwarded 
me a heads-up email that Alan Dershowtiz, one of 
Epstein's longtime friends—they have a bickering 
brotherly relationship—and occasional legal advisors, 
had received from a reporter at Politico. The Politico 
reporter had been following Epstein-related court filings 
and found a new one added to an old lawsuit with some 
rather jaw-dropping claims. The civil filing, based on 
claims of one of the plaintiffs, purported to connect a 
catch-all of bold-faced names associated with Epstein 
more than a decade ago, including Dershowtiz and 
Britain's Prince Andrew, to a "sex slave" ring, and . 
claimed that Epstein's alleged sex slaves had been 
forced on Epstein's command to have sex with 
Dershowitz and the Prince. 
Epstein, who sometimes seems to have an out-of-
body attitude toward his own fate and bad press, said 
that while the claims were ludicrous—putting 
Dershowitz among sex slaves, he said, ought to point 
out just how ludicrous—he thought it might provoke 
"quite a show." In short order, Prince Andrew's alleged 
involvement sent the U.K. into tabloid frenzy (even the 
normally sniffy Guardian, in full anti- royal and anti-
billionaire fever, joined in), which then effectively 
exported the story back to the U.S., where Epstein's 
now-long-defunct connection to Bill Clinton, suddenly 
became a shadow over Hillary, and hence big news. 
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"I told you," said Epstein. 
There is Epstein in his inner world, trying, ostrich like, 
not to look out. Little beyond his strict realm seems 
palatable or even all that familiar to him. Not long ago, 
when I met him for lunch in the West Village, he noted 
that he hadn't been out to lunch in a restaurant in 10 
years. 
Then there is the outside world pressed to the glass, 
appalled and titillated by the monster inside the big 
house, with press accounts recycling the mysterious 
billionaire mythology—a man of vast and unsourced 
riches living in a parallel universe of absolute 
entitlement—and offering brief glimpses of him 
stepping out of the house (the same photos endlessly 
republished), and suggesting depravity inside. 
In fact, the life in the house, without wife or 
children or conventional domestic demeanor, in some 
way conforms to the most scripted fantasies: a life 
somewhere between Daddy Warbucks and Eyes Wide 
Shut. There is indeed a group of young women who act 
as Epstein's support staff and companions. Some have 
worked for him for many years, marrying, having 
children, and continuing as part of his business and 
household infrastructure. One woman, on an afternoon 
when I was there, had just returned from an around-the-
world honeymoon that Epstein had arranged for her. 
Some are, or have been, his romantic interests. His 
present girlfriend, whom he met four years ago at a 
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dinner party in New York, is in dental school. One 
former girlfriend, Eva Andersson Dubin, a Swedish 
model and Miss Universe finalist whom Epstein has 
known for more than thirty years, became a doctor—
Epstein sent her to medical school—and married hedge 
funder Glen Dubin. Together they finance the Dubin 
Breast Center at Mount Sinai Hospital. Most of the 
women at one time will travel with Epstein to his other 
floating residences—the ranch in New Mexico, a vast 
apartment in Paris, the island in the Caribbean, the 
house in Palm Beach. 
Epstein will sometimes move a meeting that starts 
in his dining room outside for a walk in the park—his 
idea of going out to lunch is a Sabrett's hot dog. The 
various girls in the house become the accompanying 
entourage, as though something out of an 18th-century 
French court. 
But the Hefnerian prurience can also be quite 
businesslike: poised young women in a mansion on the 
Upper East Side with various office responsibilities are 
really not that different from any of the art galleries in 
the surrounding neighborhood. They mingle freely with 
his powerful guests, not so much as hostesses—or, in 
tabloid language, harem-like "sex slaves"—but as 
attentive students (which, of course, might be regarded 
as having its own fetish-like attraction). Epstein 
explicitly denies that there is an sexual quid pro quo. 
("There an expression that if you're fucking someone 
you work with they can come in late. It's not my 
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expression, it's Jimmy Goldsmith's.") Still, the constant 
attendance of so many comely young women—
especially given his past conviction—seems so outside 
of conventional living or staffing or social or romantic 
relationships that it is hard to describe in a 
straightforward or straight-faced way. And while it may 
be part of the appeal for the men who come to visit 
Epstein, it is as well a pecularity they put up with in 
order to spend time with him. It sometimes seems part 
of Epstein's implicit challenge: not just look at me, but 
do you even believe what you see? Or it seems he is just 
oblivious to what others are thinking. A willful and 
perhaps fatal tone deafness. 
The Epstein house/office is, by careful design, 
exclusive and clubby, part hang out, part secret society. 
Along with the difficulty in explaining why, even after 
his jail term, the rich and powerful have continued to so 
eagerly solicit him, it's also notable in the fixed 
hierarchy of who comes to whose turf, that when they 
went to see Epstein, they tend to comes to him. 
He's created a world and you come to it. 
A week in late September—U.N. week as it 
happened—began, over Sunday lunch, at Epstein's 
house with a colloquial for billionaires: Gates, Mort 
Zuckerman, the real estate billionaire and own of the 
Daily News, and Peter Thiel, the PayPal co-founder and 
early Facebook investor. [DISCUSSION?]. 
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Epstein, preternaturally responsive to both the price 
of oil and to the politics of the Middle East, entertained 
that evening a delegation from Qatar, including Sheikh 
Hamad Bin Jassim, the foreign minister. Hamad , 
indeed, lives across the street in a similarly furnished 
house—he and Epstein have the same decorator. 
Epstein, in his relaxed and amused manner, kept 
prodding: "Why are you financing the bad guys? What 
do you get out of that?" The Qatarians, in some mild 
diplomatic discomfort, seemed most worried that their 
bid for the World Cup might be compromised by 
bribery allegations. 
At 9 the next morning, Epstein was joined for 
breakfast in the dining room by Reid Weingarten, who's 
represented, among other fat cats in trouble, 
Worldcom's Bernie Ebbers and Goldman Sach's Lloyd 
Blankfein, and is one of attorney general Eric Holder's 
closest friends. Weingarten, hoarse, with a cold, and 
dejected, is just back from a failed defense of former 
Connecticut Governor John Rowland. 
After a blow by blow of the trial, there's a 
discussion of the Qartarian's visit—Epstein is serving 
chocolate made from pistachios grown on the Sheikh's 
farm—and speculation about who actually controls 
ISIS, with Weingarten arguing that the Turks are not 
getting enough scrutiny (he posits that ISIS is part of 
their proxy war against the Kurds). There is, in 
Epstein's dining room, always an alternative version of 
world events—" "perception versus reality," says 
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Epstein, "not to imply that one necessarily has greater 
weight than the other." 
"Why?" I asked Weingarten, when Epstein briefly 
steps out of the room, "do so many people keep coming 
back here, everything considered." This was before the 
most recent blowup but has been an obvious question 
ever since his stint in jail. 
"Why we camp out here? I guess because there's 
no place like it." 
Epstein summons in the next person cooling his 
heels in the ante-room. It's a young man named Brock 
Pierce, a former child actor and dotcom high flyer—a 
principle in a gaming company called DEN, a notorious 
dotcom burnout, with its own sex scandal—who now 
describes himself as the "the most active investor" in the 
Bitco and programmable currency space.. 
Epstein shortly checks to see if his next 
appointment is here to join us. Seconds later, Larry 
Summers, the former treasury secretary and President of 
Harvard, enters the dining room. Summers, off Diet 
Coke, digs deep into the Sheikh's chocolates, then 
focuses in on the Bitcoin investor. 
"Okay," he says, after listening for a bit to Pierce 
and his update on the rapid Bitcoin price swings„ "I 
have opportunities here. But an additional feature of my 
decision problem roughly speaking is that the worst that 
could happen to you is that you could lose all the money 
you put into it. Whereas, I could go—I mean I don't 
look that great now—but I could go from being seen as 
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a figure of some probity and some intelligence to being 
a figure of much less intelligence and much less 
probity..." 
"Well," says Pierce in some dramatic 
understatement, "you are going to have some low 
quality characters playing early in the space..." 
That evening, there's a small cocktail party, which 
includes the former Prime Minister of Australian, Kevin 
Rudd, and Thorbjorn Jagland, the head of the Nobel 
Peace Prize Committee, who offers an affable, but 
generally scathing, critique of U.S. diplomacy (and a 
brief defense of Obama's Peace Prize award) and to 
whom Epstein offers a ride back to Europe on his jet. 
The next morning, it's Ehud Barack, the former 
Israeli Prime Minister, for breakfast. Barack is, over his 
omelet, able to defend both Obama and Putin. Then a 
high ranking official from the Obama White House 
(whose name I am asked not to use). 
There follows the former head of the UN Security 
Council, Hardeep Purie, and then head of the central 
bank of Kazakhstan, Kairat Kelimbetov. 
Then Nathan Myhrvold the former chief technology 
office at Microsoft. Then Martin Nowak, a Professor of 
Biology and Mathematics and Director of the Program 
for Evolutionary Dynamics at Harvard, the institute that 
Epstein has funded with $30 million. Part of Nowak's 
research has to do with trying to "describe cancer 
mathematically." (Epstein preempts Nowak's 
explanation : "Think of cancer the same way as you 
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think of a terrorist group. The NSA has been able to 
thwart a great number of terrorism acts by intercepting 
communication signals from one terrorist to another. 
That same dynamic, a form of signal intelligence, of 
finding a terrorist in Europe, can be used to intercept 
communication between cancer sells. Cancer cells 
merely communicate in protean code rather than 
electronic code. If you can decode what the signals are 
saying you can jam those signal between terrorist 
calls—essentially wipe out their cell phones. Likewise if 
you can decode biological signals you can jam them too, 
that's the holy grail.") 
Then Richard Azel, a Nobel prize winner in 
physiology. Then Ron Baron who has $26 billion under 
management in his Baron Fund. Then Josh Harris, the 
co-founder of Apollo Global Management ($164 billion 
under management) and owner of the New Jersey Devils 
and the Philadelphia 76ers. 
In some sense, what goes on at Epstein's house 
confirms everyone's worst fears about power and the 
powerful: they are all in a secret and shared 
conversation. The world runs on insider information. 
Inside Epstein's dining room, it remains a man's 
world—a rich man's world—in which women exist as 
little more than room decorations or helpmates. Indeed 
his salons tend to offend most aspects of reconstructed 
gender and political sensibilities. 
The rich perhaps come here, risking public 
opprobrium, not to mention the censure of their wives, 
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because there aren't, in this leveled age, too many 
places where they don't have to pretend that they are 
something other than rich and powerful. The 
conversations at Epstein's are the conversations, I 
suspect, that rich men dream of, but in the real world are 
actually hard to have. 
That's the implicit Epstein view of the world, not, 
in most venues, comfortably expressable, not in positive 
and practical terms anyway: that the rich do have quite 
an autonomous control over events, and the wherewithal 
to effect the outcome of what they can't entirely control. 
Epstein faciliates that conversation without guilt or 
worry, and, in fact, with great enthusiasm. His lack of 
PC--the rich man's world he has created is flagrantly 
non PC--is a serious part of the draw. 
Wealth is the bond and the experience. Once, at 
lunch in the Epstein dining room with Bill Richardson, 
the former Governor of New Mexico, and past 
Presidential aspirant, when Epstein left the room for a 
few minutes, I asked the obvious question, the one 
everybody asks each other, "How did you meet 
Jeffrey?" Richardson seemed surprised: "Jeffrey," he 
said, as though stating what should have been perfectly 
obvious, "is the biggest landowner in New Mexico." 
Epstein has a yet more structural explanation as to 
why, after prison and with continuing tabloid infamy, he 
can maintain his valued place. It comes back, not 
unexpectedly, to the nature or the needs of money: "At a 
certain level of finance, almost everyone is allied with 
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an institutional interest. You are part of government, or 
you want to be in government, or you are connected to a 
bank or other portfolio, or you have key relationships 
with certain corporations or industries. Because of my 
situation, I have none of that. I have no institutional ties 
which makes me in some sense one of the few wholly 
independent sources of information and actual honest 
brokers. That's the usefulness of disgrace." 
It's also true that Epstein's circle might be more 
forgiving of disgrace than the rest of the world. Many of 
these men have themselves been on the wrong side of a 
negative story or a scandal or a damaging public 
lawsuit. Any hyper-prominent person might run afoul of 
prosecutors, the political moment, the media, or the 
Internet hoi polloi. And they know that the media's (or 
prosecutor's) version of events seldom square's with 
their own. In that way, they are, even with jail time, 
quite willing to give Epstein the benefit of the doubt. 
For some of his visitors, there's a clear order of 
identification: there but for the grace of God. For others 
tthere is even a wry sense of humor about it. People who 
know Jeffrey exchange "Jeffrey" stories. "That's 
Jeffrey," says Mort Zuckerman, (whose paper, the Daily 
News, is ever vitriolic in its coverage of Epstein), with a 
twinkle in his eye and obvious enjoyment, to tales of 
Epstein escapades. It is an outreness that Epstein seems 
to cultivate. In his Paris apartment, 10,000 square feet 
on the Avenue Foch, a neighborhood otherwise 
occupied by foreign potentates, there is a stuffed baby 
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elephant in his living room—that is, the elephant in the 
room. (Epstein says too it's a reminder that elephants 
have 23 copies of tumor suppressor genes and humans 
have only 1.) The single book on his bedside table is 
Lolita (he is, beyond the joke, a great Nobokov fan). 
And, too, he seems often to be right. Since I began 
working on this piece in September, Epstein predictions 
about the price of oil, yen, ruble, and euro have all born 
out. If I had invested $100,000 the way Epstein said I 
should in early September, by the end of January I 
would have made $2.4 million. (Alas, I did not invest.) 
At any one moment, he is making a series of bets 
for himself and others--very much not as a workaday 
hedge fund, and much more as a privileged association. 
Money is always about the club it gets you into. 
Most everyone who is now of a certain age and 
ambition and status grew up in, and found they were 
temperamentally suited to, the era of wealth that started 
in the late 1970s. A meritocracy on steroids, or, as 
Vanity Fair would baldly dub it, the new establishment, 
an increasingly parallel world, a self-invented one, at 
further and further remove from the ordinary one. 
Epstein's is just one version. 
Epstein often tells, with some obvious marvel, his 
middle class to riches tale: born in 1953 in Coney 
Island, father worked for the city's Parks Department, 
mother a housewife. 
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The captain of the math team at Lafayette High 
school in Bensonhurst, he went on to Cooper Union 
where the tuition is free. He dropped out after two years 
and began taking classes at the NYU's Courant Institute 
of Mathematics. Then, without a college degree, hence 
by a slight of hand, he got a job teaching math and 
physics at Dalton in 1974. (A few years ago, during a 
chance encounter with a former Dalton math department 
chairman, Margo Gumport, I asked her about Epstein. 
She said he was the most brilliant math teacher at 
Dalton in her 50-year career and that she had often 
wondered what had become of him.) 
Dalton was his first exposure to the wealthy. They 
have, he concluded, just as many problems as the people 
in Coney Island, but different ones, almost invariably 
involving divorce and money. "I found it interesting as a 
science experiment," he recalled recently as we chatted 
about his life. "It did not really involve me. I could just 
stand back and watch." 
Dalton fathers were attracted to him as a young 
man clearly on the make. Punch Sulzberger, the 
publisher of the New York Times, and a Dalton father at 
the time, tried to recruit Epstein to come to the Times. 
(Epstein recounts a story of riding with Sulzberger in his 
wood paneled station wagon to the family's country 
estate and Sulzberger talking to the chauffer on a phone 
from the backseat to the front.) But he wasn't interested 
in being a journalist. 
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In 1976, another Dalton father, asking "wouldn't 
you rather be rich than be a teacher?" introduced him to 
Bear Stearn's chief Ace Greenberg, a conversation 
Epstein recounts as this: 
Greenberg: "Everyone tells me you're super smart 
in math and you're Jewish and you're hungry...so why 
don't you start working here tomorrow?" 
Epstein: "What?" 
Greenberg: "If you're supposed to be so fucking 
smart, don't you understand English?" 
Epstein: "Ok. Count me in." 
Hence, Epstein, like many in the late `70s, arrived 
on Wall Street. By the fortuitous luck of being there at 
that point in time, Epstein was propelled by a much 
more explosive form of upward mobility than had ever 
before existed. With a facility for mathematics as well 
as for getting along with wealthy men, he got rich at an 
even faster rate than so many others. 
He moved into the penthouse of a new building at 
66. Street and Second Avenue—still in the shadow of 
the Maxwell Plum era when the 60s on Second was the 
glamour address—a building that was, he says as a fond 
memory, full of "actresses, models, and euro trash." (It 
would shortly become the Studio 54 era, where Epstein, 
who has, proudly, even militantly, never had drink or 
taken any drugs, was a regular). 
If on one side of Wall Street there were the 
salesmen (the Wolf of Wall Street model), on the other 
side there was a new sort of finance type able to 
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embrace a level of acute abstraction. "In the past," says 
Epstein, "investing was all about reputations and 
relationships. You invested in a company on the basis of 
who was running it. Did they have integrity? Were they 
married? Good family men? It was a `50s mentality. But 
in the mid `70s options started to be traded. In essence, 
the first formal derivatives. The movement of this 
instrument is not directly attached to the stock price. 
The world of investing began turning from relationships 
to math. In a sense I didn't really make money as much 
as I tried to create it. This was intellectual activity of a 
fairly high order." 
Intellectual activity aside, he met Helen Gurley 
Brown and she made him Cosmopolitan Magazine's 
Bachelor of the Month in 1980. 
"What," I ask, "was your social life like?" 
"Well, I was a playboy." 
"That's all? Not looking to get married?" 
"No. Never. I never wanted to get married. I 
enjoyed sex. I adore women. I wanted freedom. I was 
attracted to the rich because of their freedom. But I 
wanted also to avoid their burdens. And I didn't want to 
hide. I didn't want to be a hypocrite. I wanted to be free. 
I was not remotely ambivalent about what I wanted: to 
be free. That was the reason to make money." 
His rise at Bear Stearns was a swift one. And he 
soon became the protegee of Jimmy Cayne (also hired 
by Ace Greenberg on a whim—he met him in a bridge 
game), who would go on to run Bear and to lose his 
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fortune in Bear's 2006 collapse). Epstein's leave-taking 
or ouster from Bear was the result of politics, envy, 
overreaching, or a securities violation, or...unclear. But, 
no matter, when he left in 1982 he took with him 
billionaire clients, including Marvin Davis, a real estate 
developer who owns Twentieth Century Fox, and Herb 
Seigel, a major media investor in the 1980s. At this 
point, Epstein was dating 
, a television 
star in the new mega-rich-family soap operas, Dallas 
and Falcon Crest. 
The Concorde phase of his life coincided with the 
Concorde phase of the 1980s. If the `80s were 
happening pell mell in New York, they were happening 
at double time and catch up speed in London. Thirty-
year-old Epstein was living a Lifestyle of the Rich and 
Famous (he befriended the show's star, Robin Leach), at 
English shooting parties and country estates with 
Saturday night black tie dinners, where he was meeting 
the over-the-top families of Europe. 
"I didn't take it seriously," Epstein recounts. "I was 
not caught up in it. I wasn't trying to make a billion 
dollars. There was no ultimate goal. It was just fun to 
meet smart people, interesting people. But no long-
range plans. Often no short-term plans either. I would 
head to Kennedy and, on the theory that most important 
events in one's life are serendipitous, I wouldn't decide 
where I was going until I got there." 
At the same time, he was developing a perception, 
or, at least a market differentiation: the hyper wealthy 
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had different problems than the very wealthy. Dealing 
with a billion dollars was different from dealing with 
$100 million. "If you had a billion dollars I would think 
the last thing you should be worried about was money, 
in truth money was what you most worried about. How 
to make more of it, how to give away more of it, how to 
protect your children from it, how to hide it from your 
wife or husband, how to minimize your taxes on it. The 
traditional wealth service structure, an accountant, and 
investment advisor, a personal lawyer, and an idiot 
brother-in-law, became hopelessly outdated as amounts 
exponentially increased. 
"You can't spend a billion dollars, you can just 
reallocate it to a different investment class. And you 
can't give away a billion dollars without a vast staff, in 
effect going into the business of giving away money, yet 
another business you are likely to know little about." 
For a period, one part of his activities, he says, was 
recovering monies for countries looted by exiled 
dictators or military strongmen. Then, in his telling, he 
was representing a series of vastly wealthy people and 
families—not just doing their bidding or their investing, 
but helping them to navigate the ambitions of their 
wealth. If they had big dreams before, it's nothing to 
what they can have now. 
If early in his career he might have seemed like a 
sort of George Peppard (there's a physical resemblance) 
in Breakfast at Tiffany's, a charming hustler, later he's 
George Peppard in Banacek, a smart and astute operator. 
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