There can be no doubt that high-powered hedge fund manager Jeffrey Epstein would rather the public know him for his prominence and success as an investor than for the allegations of child sex trafficking, for which he has now been indicted and faces life in prison. And there has for years been mystique surrounding Epstein’s business — his wealth fund is so exclusive that it reportedly requires a billion dollars up front from clients.
But according to the Dow Jones’ periodical Barron’s, Epstein may not even be good at that.
Barron’s looked at the tax returns of one of Epstein’s foundation, which generated investment income for its charitable causes through day-trading and flipping of initial public offerings, and found that the foundation enjoyed a return of only 14 percent in the 21-month period they looked at. To put that in perspective, the stock market itself rose 34 percent in that time.
Questions have swirled about Epstein’s finances, including how exactly he makes his money and whether he is even really a billionaire. Regardless, it seems likely that much of whatever fortune he does have will be stripped away by prosecutors, victims, and his own defense lawyers.