Jeffrey Epstein, the notorious financier and convicted sex offender, left behind a fortune of around $580 million when he died in 2019.
The great wealth seems to have given him power and influence, which, according to experts, also enabled the crimes he committed., writes sky news.
How did he start his career?
Epstein was born in New York and was considered a "mathematical genius," but he did not graduate from college.
He became a teacher for a time at a private school, attended by children of the city's elite, but left after being fired due to deficiencies in his teaching skills.
Journey into the world of finance
After leaving teaching, Epstein took a job at Bear Stearns, where he developed connections with the financial elite and gained valuable experience. He later founded his own firm, J. Epstein & Co., where he served as a consultant to very wealthy clients, including billionaires. Through these firms and sophisticated strategies, he was able to generate large incomes and avoid taxes by using low-tax jurisdictions such as the U.S. Virgin Islands.
Main sources of money
Epstein's most important client was billionaire Les Wexner, the former head of Victoria's Secret, who paid him millions of dollars for financial management and other services. Leon Black, co-founder of Apollo Global Management, also paid him significant sums for wealth management and tax planning advice. Analyses show that he cashed in hundreds of millions in dividends from his companies and stashed away vast sums through offshore structures.
Doubts and controversy
Although Epstein claimed to be a respected financial advisor, experts have raised questions about the legality of his money. Suspicions include hiding income in tax havens and using compromising information to secure powerful clients and financial advantages. /Telegraph/
