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Wednesday May 08, 2024

How did Jeffrey Epstein make net worth of $560 million?

Jeffrey Epstein abused girls as young as 13-year-old since 1985, as per lawsuit

By Web Desk
January 05, 2024
Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services sex offender registry on March 28, 2017. —  New York State Sex Offender Registry
Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services' sex offender registry on March 28, 2017. —  New York State Sex Offender Registry

Public examination of the court documents has rekindled interest in the late sex criminal Jeffrey Epstein's money and how he acquired it, while recently revealed court documents have brought the case back into the public eye.

The politically connected multimillionaire, who never completed college, is accused of abusing numerous teenage girls before taking his own life in a federal prison in 2019. Despite this, he managed to network with a wide range of prominent public figures, including members of the British royal family, software moguls, and former US presidents.

The disgraced financier's net worth was estimated to be over $560 million at the time of his death in August 2019, while he was awaiting trial on charges of sex trafficking. He was discovered dead in a Manhattan jail cell at the age of 66. Epstein also possessed a number of opulent homes.

A class-action lawsuit settled by the country's largest bank last year claims that from 1998 until August 2013, JPMorgan Chase gave Epstein money and frequently allowed him to withdraw huge sums of cash. It is anticipated that close to 200 women victims will get payouts.

Additionally, Epstein dealt with Deutsche Bank financially. In May 2023, the German bank consented to pay $75 million to settle a lawsuit claiming that it "knowingly benefited" from Epstein's sex trafficking and made money trading with him.

Regarding the settlement, Deutsche Bank opted not to comment. It admitted its "weaknesses in our processes and the error of onboarding Epstein in 2013" in 2020.

Epstein possessed two nearby islands. The 75-acre Little St James was purchased by him in 1998 for $7.95 million, as reported by the New York Post and New York Magazine. According to CNBC and the Wall Street Journal, Epstein paid more than $20 million for the 165-acre Great St James in 2016.