How exactly did Jeffrey Epstein earn such a huge net worth?
When Jeffrey Epstein died last year, his net worth was over $577 million, including his business assets and property. The Netflix documentary Jeffrey Epstein: Filthy Rich shines some light on Epstein’s rise to riches. While the docuseries focuses on Epstein’s abuses, it doesn’t go too much into detail about how he amassed his wealth.
Jeffrey Epstein’s net worth includes cash, businesses, real estate, and other assets. Here’s what Jeffrey Epstein had the time of his death, how he earned it, and the fate of his fortune.
Jeffrey Epstein founded the Intercontinental Assets Group in the 1980s. Its purpose was to recover financial losses for brokers and attorneys and to manage the assets of the rich & famous. Epstein’s financial connections included Leslie Wexner, CEO of the company behind Victoria’s Secret & The Limited.
Another financial tie Jeffrey Epstein had was to Stephen J. Hoffenberg, former owner of The New York Post. Epstein and Hoffenberg went in to buy Pan-American World Airways together. While it’s not clear if they were successful, Hoffenberg later claimed that Epstein was part of a Ponzi scheme that landed Hoffenberg in jail.
Real estate portfolio
Jeffrey Epstein’s net worth also included an extensive real estate portfolio. He owned luxury properties in Manhattan, New Mexico, Palm Beach, Paris, and the US Virgin Islands. His mansion in Manhattan is considered one of the priciest in the borough and one of the roomiest.
Apparently, Jeffrey Epstein’s real estate is worth over $200 million alone, making up the bulk of his net worth.
Cars and planes
Jeffrey Epstein owned private jets, one of which he used to traffic minors to the US Virgin Islands. Bill Clinton infamously made a few trips on Epstein’s private jet between 2002 and 2005. Epstein’s fleet of planes reportedly adds over $80 to his net worth.
Jeffrey Epstein also owned over 15 luxury cars, many of which were Chevrolets.
Jeffrey Epstein’s net worth in 2019
In 2019, it was estimated that Jeffrey Epstein made about $10 million per year. His trust also reported his net worth was over $500 million. Given the $10 million a year figure, we can assume most of his wealth was in real estate assets that he amassed over the years rather than cash.
Was he really worth that much?
At the time of Jeffrey Epstein’s arrest, his current finance company, Financial Trust Company, reported that Epstein had 20 employees working for him. At his height, he claimed he had 150. Granted, his peak was in 2002 before his first sex trafficking charges. Many of his rich friends deserted and divested from him after that.
Most notably, both Leslie Wexner and current US President Donald Trump severed ties with Jeffrey Epstein after he was charged with soliciting a minor. The disconnection from Wexner, who was a client, must have negatively impacted Jeffrey Epstein’s net worth.
What will happen to Epstein’s assets?
Currently, Epstein’s victims are suing his estate for damages. If they win, they could earn enough to liquidate some of his assets, most likely selling off Epstein’s properties. The US Virgin Islands has issued a warrant to search Epstein’s island, which would be easier if that property were sold.
Also, a DNA company is trying to see if Epstein had any biological children. Given his activities with younger women, it’s possible he may have conceived biological children who would be beneficiaries if they exist. For now, it will be up to Jeffrey Epstein’s brother, who is next of kin, to manage the fate of Epstein’s estate.