🏦 How Jeffrey Epstein Made His Fortune

Letter From The Editor
This is our 200th issue! What an insane accomplishment that I couldn’t have imagined achieving when I launched this newsletter on September 11, 2023.

Thank to all of you who’ve stuck around with me as we’ve grown and learned over the last few years.

We have some exciting new features coming in September that I can’t wait to share with you!

In today’s newsletter I discuss how Jeffrey Epstein made his fortune, Elon Musk’s SpaceX invests $2 billion dollars in xAI, Anthropic was recently valued at $100 billion dollars, Superman soars to a $125 million dollars opening weekend, Odell Beckham Jr. bet on Bitcoin turns out to be very profitable, and Eli Manning is no longer interested in buying a minority stake in the New York Giants (no word on if anyone else is still interested in even watching them play this season).

Scroll on!

The Business Behind The News

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🏦 How Jeffrey Epstein Made His Fortune

For years, the name Jeffrey Epstein has been synonymous with wealth, influence, and some pretty disturbing and f’ed-up stories. But how exactly did Jeffrey Epstein make his fortune, and what did he spend his considerable wealth on? These questions have resurfaced with particular intensity recently, as the Donald Trump administration has claimed it hasn’t found a "client list" for Jeffrey Epstein (contrary to what his own Attorney General and Head of the FBI have claimed in interviews) and is refusing to release any other files they may have on Jeffrey Epstein. This stance is causing significant friction within President Donald Trump's own MAGA movement, as his supporters are beginning to voice their discontent, feeling that promises to uncover the full truth are not being kept. 

A lot has been written about all the horrible things Jeffrey Epstein did before his death by “alleged” suicide in a Riker’s Island jail cell on August 10, 2019. So let’s dive into how exactly Jeffrey Epstein made his fortune.

Jeffrey Epstein's financial career began modestly, working at Bear Stearns in the 1970s as an options trader. He quickly demonstrated an acumen for finance, particularly in advising wealthy individuals on tax strategies. In 1982 Jeffrey Epstein founded his own investment firm, J. Epstein & Co. (later renamed Financial Trust Company), which he claimed exclusively served billionaires. The precise nature of his business operations remained largely shrouded in secrecy, but reports indicate he managed assets and provided financial, tax, and estate planning services for ultra-high-net-worth individuals. One publicly identified client was Leslie Wexner, the founder of L Brands (which included Victoria's Secret). Jeffrey Epstein’s relationship with Leslie Wexner was particularly lucrative, with Epstein reportedly making more than $200 million dollars from his work for Leslie Wexner over a decade. He also reportedly received $158 million dollars from Leon Black, co-founder of Apollo Global Management, for financial advice. In the mid-1990s Jeffrey Epstein moved his company Financial Trust Company to the U.S. Virgin Islands, likely for tax advantages 

But let’s be honest: you also can’t begrudge anyone who moves to the Caribbean for the weather. 

Jeffrey Epstein engaged in various investments, including in hedge funds and startups, and chaired an offshore company called Liquid Funding Ltd., which was partially owned by Bear Stearns and dealt in complex financial products like mortgage-backed securities. 

If you’re starting to get the feeling Jeffrey Epstein was always somehow mixed up with shady people and business dealings then you’re starting to catch on. 

At the time of his death in August 2019, Jeffrey Epstein's net worth was estimated to be between $560-to-$630 million dollars. His assets included a portfolio of lavish properties spread out around the world including a palatial townhouse on the Upper East Side of Manhattan valued at over $50 million dollars, a mansion in Palm Beach, Florida worth about $12 million dollars, a ranch in New Mexico valued at just over $17 million dollars, and an apartment in Paris worth an estimated $8.6 million dollars. He also owned two private Caribbean islands named Great St. James and Little St. James, which were collectively valued at $86 million dollars following his death. 

These islands included a private jet, because….of course they did.

Beyond the mansions and private islands, Jeffrey Epstein spent a significant amount of money on his side-hustle or “hobby”, of running an international sex trafficking operation of underage girls marketed to some of the wealthiest and most famous men in the world. 

Jeffrey Epstein accumulated a fortune estimated at between $560-to-$630 million dollars during his lifetime, and donated some of his fortune to scientific research and education through the Jeffrey Epstein VI Foundation, where he gifted $30 million dollars to Harvard University for a program focused on evolutionary dynamics, but nothing can erase the pain and suffering Jeffrey Epstein caused the victims of the international sex trafficking he ran with the profit he made from his business ventures.

Sicko. That’s literally the only word that comes to mind when I hear the name Jeffrey Epstein. Not a business leader, or philanthropist, but just Sicko!

🚀 Business

SpaceX, led by Elon Musk, is investing $2 billion dollars in xAI as part of a $5 billion dollars equity round, according to reports from the Wall Street Journal. This significant investment further intertwines the ventures of Elon Musk. Apparently, Elon Musk moving money from one pocket to another is considered a groundbreaking business strategy these days. Oh how easily Wall Street can be fooled.

🎬 Entertainment

"Superman" has soared to an impressive box office opening bringing in approximately $125 million dollars in its debut weekend. This makes it the third-biggest box office opening of 2025 so far. Clearly audiences still can’t get enough superheroes sequels, proving that original storytelling is totally overrated.

🤖 AI

Anthropic, which is backed by Amazon and was recently valued at $100 billion dollars, has launched its Claude AI billed as a "Financial Analysis Solution" to help financial professionals with tasks like market analysis, research, and investment decisions. Forget about mortgage backed securities - the next financial crisis will be brought to you by your trusty AI financial advisor.

🪙 Crypto

In 2021 Odell Beckham Jr. opted to receive his salary from his 1-year Los Angeles Rams contract, which included a $750,000 dollars base salary and potentially up to $3 million dollars with incentives, all in Bitcoin. This decision has proven financially lucrative as Bitcoin recently hit an all-time high of $123,000 per Bitcoin on July 14, 2025.

At the time Odell Beckham Jr. signed his 1-year contract with the Los Angeles Rams, Bitcoin was trading at $64,158. If he received both his $750,000 dollar base salary, and $3 million dollars with incentives, Odell Beckham Jr. would have brought home $3.75 million dollars for the 2021 NFL season. That translates into 58.45 Bitcoin.

It turns out this was a great financial move by Odell Beckham Jr., because his Bitcoin holding would now be worth approximately $6.94 million dollars today, given Bitcoin’s current price of $118,779.00 dollars.

Turns out Odell Beckham Jr. is an OG in now just Football, but Bitcoin investing too!

🏈 Sports

Eli Manning, the former QB for the New York Giants, has publicly stated he’s no longer interested in buying a minority stake in the New York Giants, citing the significant cost and potential conflicts of interest with his current broadcasting and coaching roles. Even a one percent stake in the Giants, which are valued by some at up to $10 billion dollars, would be "too expensive" according to the retired quarterback. It seems even Super Bowl MVPs have to consider their "day jobs" when considering starting a multi-million dollar side hustle.

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irl Media NEWSLETTER is written, edited, and published by Chris Thompson.