Jeffrey Epstein’s Financial Rise and Controversies

Jeffrey Epstein has been identified as a significant figure in high finance, transitioning from a college dropout and math teacher to a hundred million dollar lender, which has sparked ongoing curiosity regarding the origins of his wealth.

Originally from New York, Epstein’s career began in the mid-1970s as a mathematics teacher at the Dalton School in Manhattan. However, his tenure was cut short due to inadequacies in his performance as a school administrator.

During his time at Dalton, he reportedly caught the attention of Alan Greenberg’s son, who was CEO of Bear Stearns at the time. Epstein quickly climbed the ranks and eventually became a limited partner at the company.

He claimed to have left his teaching role in 1981 to establish his own firm, known as J. Epstein & Co., which he continued to manage.

According to reports, Epstein managed funds for affluent individuals, including Les Wexner, the former CEO of L Brands, and Leon Black, ex-chairman of Apollo Global Management.

Representatives from Wexner and L Brands have been reluctant to disclose the specifics of Epstein’s role for Wexner, stating he served as a personal money manager over a decade ago but had never been officially employed by the company.

Wexner granted Epstein extensive authority over his financial matters, giving him the ability to borrow funds, sign documents, and manage tax affairs.

Through their association, Epstein reportedly acquired substantial assets for Wexner, including real estate and private jets, amounting to an estimated $100 million.

Interestingly, Epstein also allegedly distanced Wexner from close friends and associates.

In a 2003 interview, former Vanity Fair reporter Vicki Ward described Epstein as “enigmatic,” comparing him to “a classic iceberg,” suggesting that there’s always more below the surface than meets the eye.

In March 2025, a Senate Committee released details about a $62 million settlement connected to Black and Epstein’s financial dealings. This followed documents that indicated Black had transferred $170 million to Epstein over a five-year span.

A review conducted by a law firm hired by Apollo’s board found no misconduct in Black’s relationship with Epstein, leading to Black’s departure as chairman of Apollo in 2021.

Benjamin Black, the son of the former Apollo chairman, is awaiting confirmation to lead the U.S. International Development Finance Corporation, an organization that aligns private investments with U.S. foreign policy goals.

Epstein also had ties to Stephen Hoffenberg, a former director of Towers Financial Corporation who was convicted of a massive Ponzi scheme. Hoffenberg was described as Epstein’s “mentor.”

Introduced through mutual contacts, Epstein worked as a consultant for Hoffenberg, reportedly earning a significant salary while benefiting from Hoffenberg’s social connections.

According to court documents, Epstein managed the International Assets Group, where he dealt with high-stakes investments and recovered stolen finances. Hoffenberg purportedly assisted Epstein in establishing a presence in the financial sector.

Their bond reportedly involved frequent travels together, where Epstein would share personal insights about his past and financial dealings.

Just two days prior to his death, Epstein signed a new will. Official documents regarding Epstein’s estate were submitted to the U.S. Virgin Islands, where he owned property. Witnesses for the will stated he appeared to be in good health and under no coercion when signing.

His real estate holdings were assessed at nearly $578 million, along with additional assets like cars and boats, which was about $18.5 million more than what was recorded during a failed bail attempt in 2019.

The woman who accused Epstein of abuse has also filed a lawsuit against Deutsche Bank, claiming it benefited from maintaining a relationship with him. The bank settled for $75 million in May 2023.

Another individual involved with Epstein has sued JPMorgan Chase, alleging that the bank continued business with him even after his guilty plea, thereby facilitating human trafficking. This case reached a temporary settlement in June 2023.