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I heard somewhere that he was most likely running a 2 and 20 fee arrangement with his clients, which would be pretty common. Under that setup he could become extremely wealthy very quickly, even just off of managing Wexner's estate. Plus all of the sweet, in the money investments he would be able to piggy back by managing that much cash. ...and the sex ring and human trafficking
Wexner is currently alive, and since he's not dead there's no estate for a third party to manage. Nevertheless, Google says his net worth is currently $4.4B, and, assuming Wexner gave Epstein $1B (24% of his net worth) to manage (unlikely, especially so since they cut ties around 2007, I believe), 2/20 would give him only $20,000,000 per year for management fees. The 20% upside is hard to predict, but if we assume 10% annual returns, that's another $20m, for a total of $40m per year. While I have absolutely no basis for these easy round numbers, applying them to a 2 and 20 provides context. It also shows that managing a billion dollars under a 2 and 20 arrangement would make it pretty difficult but not impossible to die with $500m in assets, especially when you consider the fact he was buying islands, planes (which are expensive to maintain), and mega mansions in three different states. Throw in the fact he has almost no track record for managing money, managing even a billion dollars under a 2/20 arrangement seems kind of far fetched. Why would he earn the average 2/20 fee arrangement without proving he was at least an average fund manager? Regardless, that sort of secrecy is why the question was posed in the first place: no one knows and if they do, they aren't talking.
Disagree - who would give one person control over 24% of their net worth? Even the ultra wealthy diversify among fund managers. Plus, the numbers in the news are $2m here, $10m there, or $13m elsewhere - not billions or even hundreds of millions. 2 and 20 almost certainly did not make Epstein "extremely wealthy very quickly"
And it seems Wexner was his only client. You would need 5-10 under the 2/20 arrangement to hit that net worth.
Pretty cool that Ghislaine or however you spell it Maxwell got “caught” at in n out burger via a photoshopped picture and has been allowed to seemingly disappear completely with no media coverage
His net worth was far less than four billion according to what he told the court in the first sex trafficking case.
Some podcast my wife was listening to yesterday started to go through all the people in the black book and figure out who they were and how they're all tied together. Pretty interesting. Enty Lawyer. I couldn't find the podcast because I think it's paid.
This Prince Andrew stuff is bad. Not only did his interview go sideways, apparently there are emails between him and Ghislane where he’s asking about Virginia - who he claims he doesn’t remember ever meeting.
Yikes. https://nypost.com/2019/12/02/email...ms-to-show-he-does-remember-virginia-giuffre/ An email from the prince shows Giuffre was at least on Andrew’s mind four years ago, the BBC said. The UK broadcaster said it had a copy of an email sent “From: Duke of York” to pedophile Epstein’s socialite sidekick, Ghislaine Maxwell, in 2015. That’s the year Giuffre sued Maxwell for defamation amid Giuffre’s claims that Epstein raped and trafficked her. “Let me know when we can talk. Got some specific questions to ask you about Virginia Roberts,” the prince allegedly wrote to Maxwell. Maxwell responded, “Have some info. Call me when you have a moment,” the BBC said.
Ghislane’s friend saying she has the goods on some important people that will help her avoid the law: https://www.thedailybeast.com/ghisl...powerful-people-former-friend-says?ref=scroll I’m curious about who is paying the legal bills. Even Madoff’s friends deserted him when shit went down, but apparently people are going “ride or die” with her.
I read that initially as the attorney general filing a suit against his own estate. I was confused for several seconds.
"In one undated incident detailed in the lawsuit, a 15-year-old girl attempted to swim off Mr. Epstein’s island and escape after she was forced to engage in sex acts with Mr. Epstein and others. The girl was found, and held captive on the island after he confiscated her passport, the suit said." What a fucking terrible human being.
Some important info that I don't think anyone has talked about - did we ever get an autopsy update on the egg shaped penis???
it'd be nice if we ever got Acosta under oath about the plea deal and maybe figure out why he got appointed as labor secretary in the first place knowing his relationship with Trump and Epstein