Jeffrey Epstein went down in history as one of the worst individuals in the financial world. After being convicted as a child sex offender for sex trafficking and other crimes, the late disgraced financier died in August 2019 in his jail cell. But he apparently left behind a stack of cash to his name. Since he spent time building an inner circle of wealthy businessmen, including Donald Trump at one point, Epstein grew his fortune and overall net worth. With all the money the rumored billionaire had, Epstein used underage girls for sexual favors.
However, Epstein’s wealth has come into question over the past few years, with many challenging the notion that he was a billionaire. Below, learn how Epstein got rich.
After he pleaded guilty in 2008 for soliciting and procuring prostitution, Epstein’s lawyers claimed he was a billionaire and was worth more than $1 billion at the time. However, multiple sources and publications have challenged his billionaire status. Per Forbes, the “details of Epstein’s net worth remains shrouded in mystery,” and the outlet never included him on its World Billionaires ranking. Back in 2010, Forbes reported, “The source of his wealth — a money management firm in the U.S. Virgin Islands — generates no public records, nor has his client list ever been released.”
Epstein had a net worth of $500 million after he died, according to Celebrity Net Worth, which cited a Justice Department auditor’s confirmation about his fortune.
Epstein’s beginnings have raised a lot of eyebrows. Without any college degree from either of the schools he attended (Cooper Union and New York University), he was hired to work as a physics and math teacher for teenagers at the Dalton School of New York City in the 1970s. He was eventually fired for his performance, but multiple allegations against him behaving inappropriately around teen girls emerged later in life.
After meeting and getting to know Bear Sterns’ CEO at the time, Alan Greenberg, Epstein was offered a job as a junior assistant to a floor trader. Epstein moved up through the ranks and went on to work at multiple firms.
Eventually, Epstein raised enough capital to oversee his own financial empire. He oversaw his firm, J. Epstein & Company, which was later renamed the Financial Trust Company.
