The Net Worth of The Owner of Private Jets and Island – Jeffery Epstein
Many had titled Jeffery Epstein as a Billionaire. However, according to Forbes, he might have been worth a fraction of it. On the other hand, they said his numbers were too uncertain to include him in the Billionaire list. With the caption, “He is NOT a Billionaire,” Forbes put an end to it.
On the report of August 2019, Jeffery Epstein’s net worth was $577,672,654. The figure comes from the will that he signed two days before his death. Jeffery Epstein was arrested for a sex-trafficking racket and died in jail. The undisputed death was ruled out as a suicide. According to the document published by the New York Post, we get to know that the sum of money goes all to a trust! The 1953 Trust, which is named after his year of birth, is the benefactor. Nevertheless, the public is yet to know the beneficiary of the trust.
Criminal charge: Procuring an underage girl for prostitution; sex trafficking.
Date apprehended: July 6, 2019 (second criminal case).
Net worth: US$559 million (July 2019).
Cause of death: Suicide by hanging.
What do we know of Jeffery Epstein’s net worth?
As mentioned above, his numbers never had certainty. Therefore, the quickest way to calculate a ballpark figure is to gauge his real estate and other holdings. On July 8th, the U.S. Attorney’s Office for the Southern District of New York filed his possessions record.
There was a mutual agreement by both the government and Epstein’s lawyer about his properties. Besides six properties, Epstein owned other personal assets. According to the report filed by them, he held the holding of several companies. According to online records, they were Maple Inc, Cypress Inc, and Laurel Inc. Every company was named after a tree!
Jeffery Epstein’s Real Estate Properties
Maple Inc bought the 1930 magnificence townhouse at $10 only. That’s quite a meagre sum of money spent by them! Nevertheless, the amount tallies with the Office of City Register. However, the federal prosecution counterattacked the price with a figure of $77 million. Even C.E.O. of Miller Samuel Inc supported them. Jonathan Miller compared the Epstein’s luxury house to a likewise Philip Falcon’s townhouse. The financier bought the mansion in Upper East Side at $77.1 million in June. Now, that’s some difference in selling prices.
U.S. Virgin Island
According to the founder of the Vladi Private Islands, the island is tagged at $20 million. By the result of Google Earth’s measuring tool, the island is as big as 72 acres. The worldwide seller and the real estate brokerage listed the amount of making comparable sales.
Palm Beach, Florida
According to the Palm Beach County estimated value, Epstein’s property should not be less than $12.5 million. The year of estimation and purchase are the same – 2018. The property was standing on 0.77 acres of land. It is an estate of seven-bathroom and five-bedroom big bungalow!
Let’s start with the numbers. The property spans over 7,599 acres of pristine land. Inside the estate, it has various structures. For instance, the main dwelling sits on a land of 33,339 square feet. According to the report estimated by the county’s assessor, Guz Martinez said it should not be anyway less than $18.1 million. All the data are from the Sante Fe County Assessor’s Office, which is accessible online.
According to the Federal prosecutors’ digging, Jeffery Epstein’s net worth gets added after including a property in France. However, no details were revealed like what kind of property or where it is situated. Nevertheless, the media was able to track down the location of the new property. The property is located at the renowned Avenue Foch. According to the appraisers, real estate over there falls within the range from $106 million to $5.4 million.
On judging by his choice of real estate, there’s no doubt he would go cheap on cars. He owned them in double figures! According to the New York State Division of Criminal Justice Services data, Jeffery Epstein had 15 cars. To brief about the services, it is a sector which publicizes all information regarding a criminal. They aim to educate the public to track down the whereabouts of registered sex offenders.
Well, let us jot down the known luxury cars. He had seven Chevrolet Suburban S.U.V.s, a couple of GMCs, one Bentley, a Land Rover Range Rover, a Hummer, and a Chevrolet Express Cargo. However, that’s not it! During the calculation of Jeffery Epstein’s net worth, Federal Prosecutors also stated he was the two planes’ owner. In addition to this, one was equipped to fly internationally, therefore increasing the price. However, the defence team had stated that his count was down by 1. Epstein had sold one to pay his bail amount as a settlement.
Coming back to his cars’ estimates, Kelly Blue Book had given thorough figures. According to them, the Bentley Mulsanne of 2017 is the most expensive amongst his collection. The sticker price can be easily around $224,827. However, this is the price of a used car which is in good condition. In the opinion of Kelly Blue Books, the remaining of the cars should fetch approximately $225,000, provided they are in top-notch condition.
Epstein’s mode of earning
During his 20s, he successfully cracked the renowned Dalton School. He used to teach math and physics in the college prep school in Manhattan. Also, he was known to tutor the son of the chairman of Bear Sterns, Alan Greenbag.
Soon he joined Bear Sterns, where he had mentors like then-CEO James Cayne and Greenbag. He swiftly rose to rank just below the full partner. However, he left in 1981 and formed his own company Intercontinental Assets Group Inc. After six years; he founded the Financial Trust Co and in1993, Financial Strategy Group Inc.
An alternative way to have an idea about Jeffery Epstein’s net worth is to track down his charitable contributions. Over the years, he maintained his habit of donating to renowned institutions. One can analyze his wealth when he donated $6.5 million to Harvard. In addition to this, he founded research to a Harvard psychologist. Also, he contributed to another study in the History field. Moreover, Epstein donated to the Ivy League School to construct a building.
There used to be many press releases about his charitable activities. However, many were apprehensive about Jeffery Epstein VI Foundation. Although the claims where big, its uncertain how many of the advertised amounts were sent to the named organizations. N.B.C. News made a detailed report on Foundation’s disputable claims.
Undoubtedly, we can say he had a knack to donate to big educational institutions. One of the foundations linked to his name, Gratitude America L.T.D. Donated an amount of 150,000 to the famed Massachusetts Institute of Technology. The U.S. Virgin Island-based Foundation also contributed to the International Peace Institute in 2017. The report of the organization’s I.R.S. tax return shows that he donated a figure of $375,000.
However, his largest charities come from his previously owned two organizations: the duo – financier’s Financial Trust Company and the C.O.U.Q. Foundation donated at least $46.7 million. In 2008, this figure was distributed amongst assets to a Wexner Family and stocks. According to the nonprofit fund of Y.L.K. Charity’s tax return, it supports the claim.
However, as reported by the CNBC, the prominent figures of donation to Wexner showed up after their rapport was said to be deteriorating.