Since noted sexual predator, convicted sex offender, and (alleged) pedophile Jeffrey Epstein was arrested last weekend, a flurry of articles have come out that describe him as a “billionaire,” a descriptor that we’ve also used here at Jezebel. The financier part is true, but is he in fact a billionaire? The answer seems to be no—and an examination of how he actually made his money raises some interesting questions.
, in 2002, Epstein reported having 20 employees, “far fewer than reported figures around that time,” and that his firm had $88 million in capital from its shareholders.
Mr. Hoffenberg was Mr. Epstein’s partner in two ill-fated takeover bids in the 1980s, including one of Pan American World Airways, and would later claim that Mr. Epstein had been part of the scheme that landed him in jail — although Mr. Epstein was never charged.It’s Wexner’s relationship with Epstein that has drawn the most attention.
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