What is it that Im working on? And somehow, what began in 2007 with a bit of irritation over runoff has escalated to a battle royal encompassing no fewer than 16 legal actions between Nygard and Bacon and their associates, in which both sides are claiming damages in the tens of millions of dollars and lobbing allegations of activities that include vandalism, bribery, insider trading, arson, murder, destruction of the fragile seabed, and having a close association with the Ku Klux Klan. Robins Island, the private estate of finance billionaire Louis Bacon (inset), could be worth as much as $500 million, local brokers said. Its not in keeping with what we do here, but people went out there to look at it. I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there, the sailor, who asked to remain anonymous, said. [16] Nygrd and Bacon had been previously engaged in a protracted legal dispute over two adjacent properties they own in the Bahamas. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. (Bradys father, Nicholas Brady, was secretary of the Treasury under President George H. W. But it may very well be the most valuable private estate in all of the Hamptons and the most untouchable. Louis Bacon's House - Virtual Globetrotting West Harbour, New Providence (aka Nassau So, after vacationing with his family on North Island in Seychelles, he bought it for a whopping $35 million. Ann Colley, Director of Public Relations and Charitable Giving at Moore Capital Management, is the Executive Director and Vice President. Many have been asked to accomplish the task while playing "Six Degrees Of Kevin Bacon," [], Master of Business Administration, Columbia Business School; Bachelor of Arts/Science, Middlebury College. It Was Catastrophic: Inside Prince Andrews Misguided Bid to Explain Away Epstein, In the wake of Jeffrey Epsteins arrest and apparent suicide, Prince Andrew moved from the fringe of a swirling underage-sex scandal toward its white-hot center. Jones and brother Zack, who deployed landed at Soros Fund Management as head trader, threw plenty of business Bacon's way. As for the real estate value of Robins Island even in a Hamptons market that is out of control with almost nothing available, according to Breitenbach neither Bacon nor his heirs will ever be able to cash in via development. More recently, the property was transferred to a family trust intended to forever prevent further development. The international conservation organization celebrates Louis Bacons commitment to forest health across the United States. In a court filing, he referred to it as a toilet drain., Nygard likes the idea that people think theyre going to a separate island when they go to his place, says Louis Bacon, a titan of New York finance and the neighbor who constructed the strategic no-parking zone. I had to move the business as a fiduciary. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Click here for a larger version of our map of billionaire/celebrity networks. In a series of exclusive interviews, Falwellaccompanied by his wife, Beckidescribes the events that led to his ouster, their fallout, and why hes finally ready to admit he never had much use for his fathers church anyway. Oceana CEO Andrew Sharpless and Louis Bacon say that Congress needs to approve The Shark Fin Sales Elimination Act to completely ban the trade of shark fins in the United States. [22], Bacon contributed 500,000 to Britain's Conservative Party between 2010 and 2016. louis bacon Bacon, Louis, banker; born Boston, 1872; son of Francis E., and Louisa (Crowningshield) Bacon; attended St. Paul's School, Concord, N. H., and graduated from Harvard College, A.B. While neither the notoriously press-shy Bacon nor his philanthropic Moore Charitable Foundation would comment to The Post, a spokesman did make clear that regular hunting parties and celebrity sightings on Robins Island were no more than idle gossip.The official word about Buffett, for instance, is that no one knows anything about the king of the Parrotheads ever dropping by for a friendly visit. He wont think of trying to replicate what he already built. The Moore Charitable Foundation, founded by lifelong conservationistLouis Baconin 1992, is a family foundation that works to preserve and protect natural resources for future generations. Bacon, who founded Moore Capital in 1989 with a $25,000 inheritance. He turned a profit during his fourth semester. Snyder secured the mans testimony and has sought access to the recordings, which he claims show Nygards involvement in the harassment campaigninstructing employees on what he wants their YouTube spots to contain, for instanceas well as Peter Nygards meetings and interactions with Bahamian officials regarding construction at Nygard Cay, and Mr. Nygards donation of money to Bahamian politicians, according to Feralios attorney. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . In 1997, Bacon granted a conservation easement for most of the island to the Virginia-based global environmental organization the Nature Conservancy, making Robins Island a protected wilderness area. In January 2015, he leveled a $100 million defamation complaint against Nygard in New York, where both mens businesses are headquartered. Years earlier, Nygard had obtained a government permit to redirect the sand. According to the Moore Charitable Foundations website, the conservation philanthropist has protected more than 214,000 acres of land in perpetuity across the United States, including granting conservation easements in his home state of North Carolina (to protect the Cape Fear river watershed), Wyoming and Colorado. It had been going on for years, but in 2009, around the time the fire burned down his house, it really got out of control. SueLyn Medeiros and Nygard at Bahamas Fashion Week, in Nassau, 2008. 7 He has owned many yachts, all named Aviva. With accusations of murder plots, assaults, fire bombings and racially-fueled smear campaigns, the feud between hedge fund billionaire Louis Bacon and clothing tycoon Peter Nygard has escalated to a new level. He is the founder of Moore Capital Management LLC and Moore Global Investments. Bacon is a well-known American investor, hedge fund manager, and philanthropist. In a letter dated July 21, he was called out for the accumulation of land that came via his strategic renovation and was ordered to not only remove the structures hed built on the Crown landhis marina, lagoon, barbecue pit, and volleyball courtbut also reinstate the coastline. Two years later, Bacon dealt with his long-standing irritation with the noise from Nygards parties by installing industrial-grade speakers at the edge of his land and pointing them at Nygard Cay at night. Bush.) Nygard doesnt deny his participation in the campaign. On another is Bacons face with the word CRIMINAL stamped over his forehead. Nygard designed and constructed the compound himself over more than two decades. Cow Neck Farm, Long Island, New York: Bacon's Cow Neck Preserve, LLC purchased the farm in 1998 and donated a 540-acre conservation easement to the Peconic Land Trust, thus preventing development and ensuring the protection of the area's habitat. Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400 as of February 2017. Nygard says he wants Bacon to leave Lyford Cay: I think, at this point, it would be better if he did. He would consider nothing less a satisfactory end to their grudge match. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). From college to career, Bacon founded Moore Capital Management and The Moore Charitable Foundation, making smart investments in financial markets and the environment. In the time since Nygard began living there, his piece of land has grown from 3.25 acres to 6.1 acres. He is the rare wealthy businessman who sees the environment as a battleground, says Robert F. Kennedy Jr., of the Waterkeeper Alliance lobbying group, a favorite charity of Bacons. He has poor kids and athletes out to his house every day, says his best friend, Carlos Mackey, who is the host of a sports program on local TV. I used to see him out there in his front loader.) Even with the main house at Nygard Cay mostly in ruins six years after the firethe grand staircase that ran through it is now more of an open-air gangwaytheres still plenty to marvel at: carved dragons, 60-foot ziggurats with hundreds of torches lit individually every night by his staff, giant statues of nude women modeled on his former girlfriends, and what he claims is the worlds largest sauna, a 6,000-square-foot A-frame lodge constructed of Canadian-pine logs that are 2 feet thick and 28 feet long. At 74, with his long white hair and vigorously spread family tree (he has had eight children with five women), Nygard is something like the Hugh Hefner of down-market retail. Born to wealthy family in North Carolina, Bacon made his bones on Wall Street as an investor and hedge fund manager, starting Moore Global Investments in 1990 with $25,000 of family money and turning it in to one of the most lucrative hedge funds ever.But while most masters of the universe tend to take an interest in Hamptons real estate once theyve made their fortune, Bacons interest in Robins Island started back in his college days, when he worked on a charter fishing boat out of Montauk and regularly sailed past the island. The pool and gazebo at Nygards six-acre estate. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP ("Moore Capital"). [2] He subsequently received his MBA degree in finance at Columbia Business School in 1981. They searched the house for guns; there werent any, Ian Levy, Bacons property manager, says. He sued Bacon over the re-grading project that had created the puddle in the driveway three years earlier and demanded that his neighbor install a security gate where the driveway crosses the property line. [25], In 1991, Bacon was 20th on the list of Financial World's Top 100 Wall Street Earners list. The whole thing began over a puddle in a driveway. Dealing with Nygard, he says, is like having dog shit on your shoe. (Nygards riposte: I recommend that he change his shoes.), He is short on dialogue: he has little to say that his lawyers cant say for him, because hes doing his best to appear aloof, as if to assert that the feud has failed to get the better of him. home while in talks to sign with Cowboys, Conor Kennedy gifts pal Andrew Warren rare Dior purse at Miami bash, The pained life of Riley Keough, Lisa Marie Presleys actress daughter, Penelope Disick rates brother Masons epic sneaker collection: Going to steal, Kitten born with same 'Zorro' mask as her father, Lisa Marie Presley's grave prepped at Graceland across from Elvis', I went to McDonalds drive-thru for lunch but left with bags of cash instead. In addition to his residence on the Upper East Side, he owns a weekend home on Robins Island, off the coast of Southampton, Long Island, where he hosts polo matches and driven-pheasant shoots. Nygard and one of the outsize lion heads at Nygard Cay, 2015. How Much Is Louis Bacon Worth In July, the judge assigned to the case issued a ruling limiting Bacons complaints to alleged smears that were published in mid-January 2014 or laterleaving him with 30 of the original 135 claims against Nygard. Headquartered in New York, with additional offices in London and Hong Kong, Moore Capital provides investment management services to its institutional and high net worth clients through several privately-offered funds, including two global diversified hedge funds, as well as funds that concentrate in the global fixed income and emerging market sectors. As of February 2017, Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400. Bacon arrived next door at Point House in 1994. That mystery owner is 64-year-old billionaire financier Louis Bacon, who purchased Robins Island in bankruptcy court in 1993 for a mere $11 million. We've received your submission. These things cant go unanswered. Hes also mortified to have his public identity joined with his antagonists. His father, Zachary Bacon Jr., founded real estate company Bacon & Co. and later led Prudential Financials and Merrill Lynchs real estate efforts in North Carolina. (For a while, he advertised it as a rental for $294,000 a week.) Around the same time in 1989, Wickhams descendants sued to regain control of the island, which they claimed had been stolen from their family. Bahamian environmentalists employed by Save the Bays, an organization that Bacon and several other Lyford residents would later set up chiefly to combat Nygard, cite significant damage to the coastline84,000 square meters of the seafloor that Nygards dredging gambit destroyed, according to one study. Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. [2][4][6], In 1987 Bacon founded Remington Trading Partners. [28][29], In June 2012, United States Secretary of Interior Ken Salazar and United States Fish and Wildlife Service Director Daniel M. Ashe announced Bacon intends to donate a conservation easement totaling approximately 90,000 acres in the Sangre de Cristo Mountains bordering the San Luis Valley in Colorado. [37], American hedge fund manager and billionaire, Litigation involving the Wikimedia Foundation Outcomes in favor of the plaintiffs, "Billionaire Louis Bacon battles to protect his ranch from big utilities' solar-power plans", "Louis Bacon Tries to Turn Around Taos Ski Valley", "The 5 Stocks Billionaire Louis Bacon Can't Stop Buying", "US billionaire wins high court order over Wikipedia 'defamation', "U.S. Law Protects Anonymous Speech, Not Billionaires", "Peter Nygard files RICO suit against billionaire Bahamas neighbour", "Meet cash king Louis Bacon: the richest hedge fund manager in London", "Weddings and celebrations - Gabrielle Sacconaghi, Louis Bacon", "Conservationist buys state's biggest ranch", "Tory donor funds British marine reserve", "Million-Dollar Donors in the 2016 Presidential Race", "Board of Overseers: About: Louis Bacon '81", "Non profit news and comments - "Donor of the Day: Helping Protect the Hudson River." On his TV is a frozen picture of Bacon bearing the words 5 Lies of Bacon. Outside, on his volleyball court, one of several large signs reads, ITS [sic] TIME TO THROW THE TRASH OUT! He talks about the virtues of exercise and healthy eating, and he takes about 50 pills a dayvitamins, supplements, pharmaceuticals, he says. He sued a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. They all consider driving to town for the parade celebrating Junkanoo, a national holiday. Was Tiffany involved? A lot of us in the old line viewed him as a curiosity. Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist. louis bacon, the billionaire hedge funder and philanthropist, and ken salazar, the former u.s. secretary of the interior, announced yesterday that they have formed a new conservation-minded. His market insights allowed him to profit during the market crash and subsequent rebound. The objections to offshore drilling are economic, environmental and bipartisan. [24] In 2015, Bacon donated $1 million to a Super PAC supporting the presidential candidacy of Jeb Bush. Louis Bacon, who's almost as famous for feuding with Canadian fashion tycoon Peter Nygard as he is for running one of the world's most successful hedge funds, is throwing in the towel as an. Both are locked in an eight-year legal war with each other that has turned each man's paradise into hell. The two men are next-door neighbors in Lyford Cay, a gated community on New Providence, an island in the Bahamas, and for years it had been a peaceful adjacency. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. 2023 Cond Nast. Forbes once summed up his investment strategy as secretive, risk-conscious, a bit paranoid. If, on a lark, he were persuaded to read for a movie part calling for a handsome Wall Street kingpin type, hed probably be turned down because the fit seems too perfect to be credible: sculpted mandible, enviably tousled locks. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). He has never denounced his great-grandfather, Smith says. But that was then, and this is now. (The queen was Noor of Jordan.) There was also the matter of sand. Bacon says the description of his great-grandfather as a Klansman was news to him, and adds that all his life hed been taught instead about one ancestor, a Colonel Roger Moore, who stood down an angry mob to protect black prisoners from being lynched during the Wilmington, North Carolina, race riot of 1898. In this world, you dont disclose a lot, says Ian Levy, who, with his wife, Charlotte, manages the household staff of seven (more when the Bacons are there). He is the founder of Moore Capital Management, one of the leading investment firms in the trading industry. [36] In 2016, Bacon received a Theodore Roosevelt Conservation Partnership's Lifetime Conservation Achievement Award for authorizing conservation easements on more than 210,600 acres in the US. In August 2010, just after the police raid, Nygard wrote to Bacon in an e-mail, LouisAre you sure its worth it to escalate this Bahamas scrimmage? The former was founded in 1989, and the latter in 1990. Hedge fund giant Louis Bacon was honored for his land conservation at the star-studded National Audubon Society's gala dinner in New York. He took steps to sue the Lyford Cay Property Owners Association. Coiled stone cobras hiss steam at sunset. It would mean returning all that sand to the Bahamas rightful seabed, shrinking his property back down to its original dimensions. Privacy Rights Director of Public Relations and Charitable Giving at Moore Capital Management, (... 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