9 He owns a ranch in Argentina, in the country's most beautiful landmark. Moore Capital's Louis Bacon is running out of ideas amid a volatile macro-economic environment. Nygard and his friends sometimes refer to his estate as Disneyland on steroids. Chichn Ibiza is more like it. A sailor in Montauk dressed in a dark tan safari vest and truckers cap emblazoned with the word CASH added that he has heard urban legends about Robins Island. At that time the islands ownership was under dispute it had been under dispute since the Revolutionary War, when it was seized from its Loyalist owner, Parker Wickham, by Patriot members of the Culper Spy Ring. [2] Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division. Its blood sport to him. He acknowledges that he feels something similar, with no intention of raising the white flag. I never moved here to Nygard Cay because of Lyford Cay. 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. This is not a man you just phone up to tell him that a leafs fallen off a tree. A squadron of peacocks strut on the grounds. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. (Bacon has said he made no such offer and was never interested in acquiring Nygards land. Where Nygard has made a visible mark on the cay with his estate, Bacon wants his country houses known for how meticulously they fit into their surroundings. Hedge fund billionaire Louis Bacon's gardener is found in the buff and in the Jacuzziand also dead. He uses the yacht as an office. He previously held positions at Walter N. Frank & Co., a NYSE specialist firm, and at Bankers Trust. He flies there in a private jet that bears the words PETER NYGARD N FORCE and once reportedly had a strippers pole inside. It wasnt vengeance, he says. The hedge fund he owns and runs has some $15 billion under management, and his estimated net worth is $1.75 billion. You know that song, Someone left the cake out in the rain? A battle between hedge-fund billionaire Louis Bacon and a Canadian clothing magnate spills into New York court. The policemen didnt wear nametags. Bacon was mortified and says the chief of police told him that the sergeant in charge of the raid had acted without authorization and that Nygard had put him up to it. Nygard says that he and his guests had merely called the police because, that week, they were exposed to intolerable screeching from Bacons speakers. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. A key component of Bacons defamation suit, which his attorney, Orin Snyder, vows will have its day before a jury, is a 1,000-hour cache of footage shot by Nygards personal videographer, Stephen Feralio. 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. It is now a security booth and staff office for his estate. 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. Of course he does. I had some of my boats out there. How exactly did the alleged illegal activity go down? Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. We hired a sound consultant in the U.K. to see if we could somehow muffle the sound from Nygards by emitting a counter-sound, but that proved terribly complicated, so we went and got four huge rock-concert speakers to play something loud in response, Bacons architect, Peter Talty, says. Thats totally true, said Cutchogue resident Tonya Witczak, 46. He mentions that his assistant is one of my main girlfriends.. 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 political group, called Americas Conservation PAC, which is dedicated to strengthening our nations long-standing, bipartisan tradition of conserving lands and cultural resources for [], Louis Bacon, the 55 year old founder and Chief Executive Officer of Moore Capital, a man Forbes estimates is worth $1.4 billion, recently completed a deal to acquire New Mexico ski resort Taos. His clumsy attempt to clear his name, in a no-holds-barred interview with BBC, Inside Jerry Falwell Jr.s Unlikely Rise and Precipitous Fall at Liberty University. Im one of them., So was the first President Bush, who struck up a friendship with Nygard after Nicholas Brady took him to Nygard Cay once to marvel at the place. This page was last edited on 11 November 2022, at 06:41. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. Meanwhile, Lyford residents and the L.C.P.O.A. Louis Bacon is a conservation philanthropist and the founder and Chairman of Moore Capital Management, LP established in March 1989. ), even though his lots location at the tip of the peninsula meant that it was not deeded within the L.C.P.O.A. 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 always said he would never be done., Nygard initially joined the Lyford Cay Property Owners Association (L.C.P.O.A. [2][3] Bacon met Walter Frank while he was working on a fishing boat on Long Island. Nygard says that he has not seen the footage and that his lawyers dispute this account. 7 He has owned many yachts, all named Aviva. But unlike his peers, who have built out-of-scale, Bond villain-esque lairs in the Hamptons, South Florida, Beverly Hills or Aspen, Bacon gave his fortress of solitude to the birds. In 2005, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of the property line. He talks about the virtues of exercise and healthy eating, and he takes about 50 pills a dayvitamins, supplements, pharmaceuticals, he says. He has a lot of them. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. Both are locked in an eight-year legal war with each other that has turned each mans paradise into hell. To revist this article, visit My Profile, then View saved stories. The pool and gazebo at Nygards six-acre estate. by Melanie Grace West", "AMERICA'S GREAT OUTDOORS: Salazar, Ashe Announce Historic Conservation Easement in Sangre de Cristo Mountains", "90,000 Colorado acres offered for national protected area", "GARDEN NOTEBOOK;Paradise Returns (With Heliport)", "Cohen, Simons, 12 Others Enter Hedge Fund Hall", "Louis Bacon Receives Audubon Medal for Conservation, Environmental Work", "TRCP TO CELEBRATE THREE EXTRAORDINARY CHAMPIONS OF HABITAT CONSERVATION", "Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West," Forbes, How a Neighbors Feud in Paradise Launched an International Rape Case, https://en.wikipedia.org/w/index.php?title=Louis_Bacon&oldid=1121232736, Episcopal High School (Alexandria, Virginia) alumni, Businesspeople from Raleigh, North Carolina, Short description is different from Wikidata, Wikipedia indefinitely move-protected pages, Creative Commons Attribution-ShareAlike License 3.0. For better or worse, says Bill Hunter, a former Lyford Cay Club chairman, when you look toward Nygards place at night from across the bay, its like a cruise ship, all the lights and torches blazing. [18][19], In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family. I moved to Nygard Cay because its the most beautiful property in the world, and it happened to be that to get to it I had to go through Lyford Cay., The Lyford Cay Cluba golf-and-tennis facility with a majestically frayed pink clubhouseis the social hub of the community, and according to members, Nygard was discouraged from applying by people who broached the matter on his behalf with the membership committee. (To give Nygard credit, hes industrious, Bacon concedes. How Much Is Louis Bacon Worth At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. Instead, everybody stays up until three A.M. playing poker. 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. Around the same time in 1989, Wickhams descendants sued to regain control of the island, which they claimed had been stolen from their family. He is the chief executive and founder of Moore Capital Management. Ospreys flourish and at least one pair of bald eagles are known to have mated on the island, while animals (the eastern mud turtle) and plants (seabeach knotweed) otherwise endangered can be seen thriving in the restored environment on Robins Island. An easement is what the driveways creator, the developer E. P. Taylor, a Canadian brewing tycoon, termed this shared passage when he established Lyford Cay in 1955. As for his place in Lyford, Point House, you might never guess that the owner is this rich. But not all of Bacons land deals work out quite so well. Nearly 200 years later, in 1979 it was sold for $1.3 million to German investors who tried to unsuccessfully flip it to everyone from Moroccan royalty to Donald Trump. Giant urns belch smoke like volcanoes. I was part of his search committee. Bacon relates the same incident, though he says that Nygard was most ungallant. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. [2] He subsequently received his MBA degree in finance at Columbia Business School in 1981. In a glass-tower office, framed by views of the Manhattan skyline and the Hudson River, Bacon, 59 years old and sitting tall in a chrome-and-leather chair, is surrounded by trading screens, clocks set to the times of various overseas markets, squash and yachting magazines, model aircraft. North Havens John Diat, 59, said that the waters around Robins are famed for their fishing but hes less certain about what might happen on the island itself. 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. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. Nevertheless, he has fought to have the footage ruled inadmissible. The latter-day Hatfields and McCoys never did mend their faces, although in the end Bacons foundation is famed in the Bahamas for its work conserving the oceanic white-tip shark, while Nygrds NYC headquarters were raided last year by the FBI before he was formally charged with sex trafficking. In February 2007, the pair married in a civil ceremony in his Manhattan residence. Photo by Charles Eshelman/FilmMagic/Getty Images. His response isnt emotional, Ian Levy says. 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. Bacon grew up in a wealthy real-estate-business family in North Carolina, boarded at Episcopal High School, in Alexandria, Virginia, and graduated from Middlebury College (where he is now a trustee) and Columbia Business School. The Foundation and its affiliates support non-profit organizations that work to protect land, habitat, and water resources in specific geographic priority areas including Southern Colorado, Northern New Mexico, Long Island, Eastern North Carolina, The Bahamas, and Panama. He is the founder and chief executive of Moore Capital Management. He threw a lot of parties and was always doing construction. One of Wall Street's macro-trading legends, Louis Bacon cut his teeth as a commodities and currencies trader, earning big profits in the 1987 crash. [27] Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper. Bacon also has a prop plane, a 1999 Mooney M20. [7] In 2010, the Denver Post reported that Bacon's net worth of $1.6 billion ranked him as the 238th richest American. Every Finn starts with the saunas.. Then a sex scandal rocked his marriage and ended his lucrative stewardship of the evangelical education empire founded by his father. Initially, the Foundation agreed to give the information to Bacon's solicitors,[14] but later said it would cooperate only with a court order in the U.S., saying "Please note that we do not comply with foreign subpoenas absent an immediate threat to life or limb. Louis Bacon, 62, has accused neighbor Peter Nygard, 72, of hiring two hit men to kill him Bacon and his conservation nonprofit have been trying to block Nygard's attempts to expand his 150,000 sq . 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. He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. (Trust me, its a full-time job.) Bacon is fond of the judicious (and tax-deductible) gambit known as a conservation easement, deploying it, for example, to restore the eastern-mud-turtle population and preserve the habitat of endangered shorebirds on Robins Island. agencies in clover.In one 2015 suit, Nygard accused Bacon of floating $50,000 worth of cocaine in the waters just off shore The bickering has been so prolific that it produced court actions from New York to London to Los Angeles, where a former Nygard employee was accused of stealing video footage for Bacon's benefit.The litigation took its most recent turn on Nov. 15, when the Bahamas Supreme Court sentenced Nygard, 76, to 90 days in prison and fined him $150,000 over his alleged theft of . Boats to the island depart from the North Sea Harbor in Southampton. Its not the first time Bacon has preserved insanely valuable real estate. 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. 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. Nygard says the accretion to his acreage was brought about by a severe change in ocean currents in the 1990s, and points to a study he commissioned that concluded his dredging had little impact on the coastline. (For a while, he advertised it as a rental for $294,000 a week.) Mr. Bacon is also a member of the Board of Directors of the Foreign Policy Association. To the extent you have used me as a straw man in your fights, you will need to find someone else now. In another e-mail Bacon offered to sell it to him at a discount, below the asking price of $35 million. In addition to his work in Colorado, Bacon has helped preserve and protect environmentally sensitive land in New York, North Carolina, and the Bahamas. In the late 1980s, Suffolk County nearly purchased it to help preserve the land which was one of the last largely undeveloped areas on the East End but politics got in the way of a deal. 8 His latest yacht has an indoor paddle tennis court. [3], In December 2013, Bacon purchased Taos Ski Valley from the Blake family, who had owned it since 1954. But no. 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. Im into a lot of other kind of design, the New York designits more techy, he says. He sued the government. Because both of them happen to be billionaires, it is a picturesque driveway, lined by casuarina trees and triple Alexander palms, 200 feet north of a stunning body of water known as Clifton Bay and 100 feet south of an even more stunning vista upon the Atlantic Ocean. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. Louis Moore Bacon married Gabrielle de Heinrich Sacconaghi in Manhattan in 2007, five years after his divorce from his first wife Cynthia Pigott. Even though theres a custom-made board game called Baconopoly sitting on a credenza, with squares named for all of Bacons properties (Rutland Gate, Coral House), their identities turn out to have been affixed via printed stickers, a utilitarian gift. My wife called him, and he came over to our house. Peter Nygard is a hard-partying retail tycoon, whose estate is fit for a Mayan emperor. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. They divorced in 2002, after having four children together. They all consider driving to town for the parade celebrating Junkanoo, a national holiday. But just as one mans driveway is another mans easement, one neighbors cocktail party is anothers sleepless night due to the fact that there are 2,000 Bahamiansplus a lot of young women from islands throughout the Atlantic, not to mention Europewhooping it up at the topless bacchanal next door. Billionaire Louis Bacon Is Closing Legendary Hedge Fund To Clients, America's Richest Hedge Fund Managers Keep Falling Off List Of Nation's Wealthiest, Billionaire Louis Bacon's Charitable Foundation Sues PJT Partners Over The Andrew Caspersen Fraud, 5 Louis Bacon Holdings Attracting Short Sellers, Hedge Fund Billionaire Louis Bacon Says Clothing Mogul Peter Nygard Plotted Murder Over Beach House, Billionaires Bacon, Nygrd Trade Nasty Allegations In Bahamas Spat. Bacon, who founded Moore Capital in 1989 with a $25,000 inheritance. Smith, who organized a parade where many participants wore K.K.K. The Louis and Gabrielle Bacon Environmental Leadership Fellowship is a transformational experience designed to prepare a new generation for environmental leadership. [26], In 1992, Bacon created The Moore Charitable Foundation (MCF) to provide financial support to nonprofit organizations that work to preserve and protect wildlife habitat and improve water systems. 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. Even the Levys uniforms are low-key: matching polo shirts with the Point House logo, a simple childs drawing of a cottage. The objections to offshore drilling are economic, environmental and bipartisan. Louis Bacon took a bold step that bewildered and shocked many in the world of finance when he announced two months ago that he would be returning $2 billion to investors. 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. The pair live in the Clifton Bay area of the Bahamas. The court granted Bacon's application to serve a Norwich Pharmacal Order by email against these websites. The multi-hued structures are festooned with thousands of colored lightbulbs. Sandwiched midway between the North and South forks, Robins Island is roughly 435 acres with miles and miles of waterfront. Buffetts representatives did not reply to requests for comment. Robins Island, the private estate of finance billionaire Louis Bacon (inset), could be worth as much as $500 million, local brokers said. In 2014, 103 locals put their names on a complaint against the Bahamian government, demanding that certain procedures be followed in order for Nygard to get legal clearance to rebuild. [2], In 2006, Forbes magazine ranked Bacon as the 746th richest person in the world;[3] in 2011 it ranked him as the 736th richest man. 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. Best Restaurants in Fort Lauderdale [2][4], While at Columbia, Bacon traded commodities using a low interest loan he had received. Early residents included Henry Ford II, Aga Khan IV, Prince Rainier III of Monaco, Huntington Hartford II, Babe Paley, and certainly the most beautiful women and some of the most powerful men in the world, Town & Country reported in 1975, marveling at how the private telephone directory for 120 villas listed Heinz and Menzies, Goulandris and Niarchos, McMahon and Mellon. The piece was accompanied by a lavish Slim Aarons photo spread. Nygard was dredging, moving inordinate quantities of sand to increase the size of his property, says Fred Smith, one of Bacons lawyers. Aestheticallyshirt unbuttoned to the navel, tight black jeans, and some sort of glitter he applies to his suntanned arms after showeringhe brings to mind a mash-up of Sam Walton and Gunther Gebel-Williams, the circus-animal trainer. A part of the collection travels with him at his yacht. 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