.jpg)
Featured Image Credit: Neil Rasmus/Patrick McMullan via Getty Images
Topics: Business, Crime, Jeffrey Epstein, Money, US News, Donald Trump
Niamh Shackleton
Topics: Business, Crime, Jeffrey Epstein, Money, US News, Donald Trump
While Jeffrey Epstein died seven years ago, his name has remained in news headlines ever since.
In 2008, Epstein pleaded guilty to soliciting prostitution and soliciting prostitution from a minor. As a result, he was sentenced to 18 months behind bars, but served just over a year of his jail sentence before being released.
Fast forward 11 years, and Epstein found himself facing further charges. However, the registered sex offender never made it to trial, as he was found dead in his prison cell on August 10, 2019. He had been facing sex trafficking charges brought against him at the time.
Because Epstein died before going to trial, many questions have remained about the disgraced financier — one of the biggest being if he had any ties to President Donald Trump, who once described 'Jeff' as being a 'terrific guy'.
Advert
But away from his alleged crimes, many have wondered just how Epstein went on to become so rich and famous.
Epstein, who was 66 years old at the time of his death, started out as a math teacher before making a career U-turn and started working on Wall Street.
His first job was with Bear Steams in 1976, and within four years, Epstein was made partner.
He was later fired from Bear Steams in 1981 after reportedly being found to have loaned money to a friend to buy stocks, and he went on to start his own company J. Epstein and Co. (which he later rebranded as Financial Trust Co.).
What he actually did for his company remains unclear all these years later, but with the help of wealthy clients like American businessman Les Wexner — the former CEO of Victoria's Secret — it wasn't long until he was raking in the cash.
Another person he financially benefited from was Apollo Global Management co-founder Leon Black.
Of the $800 million both Black and Wexner made in revenue between 1999 to 2018, a whopping $490 million was paid to Epstein in fees, The Guardian reported.
The 'work' he carried out ranged from supposed tax and estate planning advice, to wealth management. Both Black and Wexner have since expressed their regrets about having worked with Epstein.
As to what Epstein described himself as, he once said that he was 'an experienced and successful financier and businessman', an 'entrepreneur who has built several highly profitable companies' and 'one of the pioneers of derivative and option-based investing'.
At the time of his death, Epstein's net worth was around $600 million.
His net worth allowed him to be able to afford not one, but two private islands: Little Saint James and Great St James in the United States Virgin Islands.
The Oversight Committee recently released photos of Little Saint James, where it's believed that Epstein took some of his alleged victims.