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. He wont think of trying to replicate what he already built. [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. Hedge fund billionaire Louis Bacon's gardener is found in the buff and in the Jacuzziand also dead. And more! Louis Bacon Uses Chevron's Tool To Fight Neighbor And Clothing Magnate Peter Nygard, With His New PAC, Louis Bacon Becomes Latest Hedge Funder To Get Politically Active, Colorado Hedge Fund Billionaire Louis Bacon Buys Taos, New Mexico, Ski Resort, Audubon Society Gala Honors Louis Bacon, Bette Midler Sings Birdie Tunes, Louis Bacon Loves Birds, Bette Midler Can't Remember, And Other Scenes From The Audubon Gala At The Plaza Hotel, Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West, Billionaire Hedge Fund Manager Returns $2B To Investors, Blames Merkel, Hedge Fund Billionaire Louis Bacon To Donate 90,000 Acres For Colorado Conservation Area, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Nygard says he plans to appeal. Soon afterward, Bacon pulled his three youngest children out of school in Lyford Cay and requested that the 70-person offshore advisement desk that handles his client records be moved out of the Bahamas. Nygard kept going. (He bought the entire 445-acre island in 1993 for $11 million.) In court documents, Nygard called the reporting false and asserted that the most damning accusers had been paid off by Bacon, who calls Nygards suspicions baseless., In the summer of 2010, 11 armed Bahamian police officers conducted a raid on Point House, during which Bacons staff were searched and interrogated and his possessionsincluding pictures of his childrenwere photographed. His Colorado donation of 167,000 acres on the Trinchera Blanca Ranch to the US Fish and Wildlife Service was the largest it ever received. He is obsessed with longevity. Bacon and Nygards neighbors prefer to keep a low profile: Count and Countess de Ravenel, of France; the Brazilian re-insurance magnate Antonio Braga; Jane Lewis, wife of the English investor Joe Lewis. New York hedge fund billionaire Louis Bacon announced today his intentions to donate 90,000 acres of land in Colorado toward the creation of the Sangre de Cristo Conservation Area. In a legal filing, Nygards lawyer characterized them as military-grade speakers that blared dangerous, pain-inducing sound waves toward Mr. Nygards home., It was supposed to create white noise on my side, but that didnt work, Bacon says. [35], He is the 2013 recipient of the Audubon Medal, given in recognition of outstanding achievement in the field of conservation and environmental protection. [27] Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper. Its quiet money, says David Laughlin, a New York financier (second-generation Lyford) and chairman of the Lyford Cay Club. Ad Choices. 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. But that wasnt why he did it. But in 2010, Nygard received distressing news from the prime ministers office. I helped to save his life, Nygard says of the time Bacon and his property manager got marooned during a fishing expedition. Hes gone to a black nation that has pretty decent race relations and tried to stir up this racial thing by staging a Klan rally. Nygard says his involvement in the Klan accusations stemmed from a grassroots movement in which locals came to me and asked for my help.. 2023 Forbes Media LLC. 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. [2][4][6], In 1987 Bacon founded Remington Trading Partners. Today, it has about a dozen lines of inexpensive apparel, aimed mostly at middle-aged shoppers and available in more than 200 Nygard stores and other retail chains in North America, and does $500 million in annual sales. He is the founder of Moore Capital Management LLC and Moore Global Investments. I never moved here to Nygard Cay because of Lyford Cay. SueLyn Medeiros and Nygard at Bahamas Fashion Week, in Nassau, 2008. Louis Bacon, who's almost as famous for feuding with Canadian fashion tycoon Peter Nygard as he is for running one of the world's most successful hedge funds, is throwing in the towel as an. He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. He threw a lot of parties and was always doing construction. Hedge fund giant Louis Bacon was honored for his land conservation at the star-studded National Audubon Society's gala dinner in New York. Todays roster is sleepy by comparison: aside from Sean Connery (who, nearly a half-dozen James Bonds ago, shot Thunderball and several other films here), there are scores of semi-anonymous businessmen or their progeny. How hard is it really, to connect Kevin Bacon to other actors? Every Finn starts with the saunas.. In August 2010, just after the police raid, Nygard wrote to Bacon in an e-mail, LouisAre you sure its worth it to escalate this Bahamas scrimmage? 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. He had a suction dredge on a floating platform, to move sand onshore, going day and night. Some worried that in rebuilding Nygard Cay he would try to obtain permission to turn the property into a commercial resort or a stem-cell research facility. But not all of Bacons land deals work out quite so well. It gives you a certain sense of purpose that, I guess, girds you to continue. The international conservation organization celebrates Louis Bacons commitment to forest health across the United States. Bahamian environmentalists employed by Save the Bays, an organization that Bacon and several other Lyford residents would later set up chiefly to combat Nygard, cite significant damage to the coastline84,000 square meters of the seafloor that Nygards dredging gambit destroyed, according to one study. 03 - YACHT CLUB AT PORTOFINO 04 - MURANO 05 - CONTINUUM TOWERS 06 - MURANO GRANDE 07 - ICON 08 - APOGEE 09 - ONE OCEAN 10 - SOUTH POINTE PARK Louis Bacon files $50 MILLION defamation suit against The exclusive Bahamas compounda favorite of billionaires and playboyshas been thrust into the spotlight by a a decades-long feud between neighbors Peter Nygard and Louis Bacon. Hes also mortified to have his public identity joined with his antagonists. A second estate in Lyford Cayfor spillover guests or staffhas an indoor squash court. He has never denounced his great-grandfather, Smith says. He also owns a grouse moor in Scotland and a hunting lodge in the North of England. Bacon, who attended college at Middlebury in Vermont, has a long history of involvement in conservation efforts []. Forbes magazine named Louis Bacon as the 746th . [30], Bacon owns the Trinchera Blanca Ranch located in the San Luis Valley. 6 He is an art collector. 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. A squadron of peacocks strut on the grounds. Legal experts suggested compliance with the orders was unlikely, given the US tradition of freedom of speech, and the fact that US courts typically required "actual evidence or sufficient allegations of libel" before granting similar orders. (For a while, he advertised it as a rental for $294,000 a week.) In the time since Nygard began living there, his piece of land has grown from 3.25 acres to 6.1 acres. I lost that recipe. An aerial view of the western tip of New Providence, 2014. 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. Sacconaghi is a Canadian socialite and art adviser. For comparison, a 42-acre compound, less than one-tenth the size of Robins Island, with far less waterfront, sold in Southampton this spring for close to $145 million. Meanwhile, Lyford residents and the L.C.P.O.A. Nygards response to the defamation suit against himon full display in his legal counterclaimhas been to double down and peddle more unverifiable and scandalous stories about Bacon. [20] In 2010, Bacon purchased the Orton Plantation in North Carolina, which was built in 1735 by an ancestor, Roger Moore, son of James Moore. The case was eventually settled. Best Restaurants in Fort Lauderdale Its simply your owner and my owner. Even so, he does acknowledge that a sitting queen and a former king have been guests of the Bacons. He is known for his business prowess, his charitable works, and his wealth. I had to move the business as a fiduciary. Oceana CEO Andrew Sharpless and Louis Bacon say that Congress needs to approve The Shark Fin Sales Elimination Act to completely ban the trade of shark fins in the United States. Instead, everybody stays up until three A.M. playing poker. They searched the house for guns; there werent any, Ian Levy, Bacons property manager, says. Louis Bacon is a buttoned-up hedge-fund king, whose passion is conservation. Even as its distasteful. Nygard believes Bacon has a nasty habit of accusing other people of what he is guilty of himself., Bacon says Nygard Cay is nothing more than eye pollution.. 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. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. Those disputes allowed Bacon to swoop in to buy Robins Island on the cheap. He was a bit of a headache, but it was largely cordial at first. Nygard says he and Baconan odd couple if ever there was oneinvited each other for drinks at their homes. Louis Bacon's House - Virtual Globetrotting West Harbour, New Providence (aka Nassau So, after vacationing with his family on North Island in Seychelles, he bought it for a whopping $35 million. ), Nygard vows he will never sell and says that he has never met anybody that smart, that competitive, in my life. Nygard had mentioned in a letter to the prime minister that a stem-cell center on the island could provide employment for hundreds of Bahamians, but insists that he had no intention of building it at Nygard Cay. If you have any problems, any concerns, any annoyancesjust ask me direct Im sure we can work them out amicably., To which Bacon replied, You are the one with the various lawsuits against me Peter, so I find this quizzical. He sued the government. The Levys have witnessed the feud up close and speak about their neighbor with contempt. Home of a champion: Inside the mansion of Bucks star Giann Todd Chrisley serving his time in one of America's cushiest prisons, John Leguizamo buys daughter a co-op on same NYC block as family house, Embattled kicker bought Neb. Photo by Charles Eshelman/FilmMagic/Getty Images. Its impossible for natural accretion to build a beach this size on a point, Romi Ferreira, a local ecologist and an attorney for the group, says, noting that Nygards southern flankon the bay sideconstitutes an especially egregious addendum. They featured unsubstantiated assertions that Bacon ran an international drug-smuggling operation, was a member of the K.K.K., had been charged in one of the biggest Wall Street insider trading cases ever (a CBS News clip on Raj Guptas infamous case had been altered, with Bacons name spliced in to replace Guptas), and was involved in murdering the Point House caretaker, Dan Tuckfield (who had died of a heart attack in the estates hot tub), after commissioning him to set the fire at Nygard Cay. 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. I used to see him out there in his front loader.) Even with the main house at Nygard Cay mostly in ruins six years after the firethe grand staircase that ran through it is now more of an open-air gangwaytheres still plenty to marvel at: carved dragons, 60-foot ziggurats with hundreds of torches lit individually every night by his staff, giant statues of nude women modeled on his former girlfriends, and what he claims is the worlds largest sauna, a 6,000-square-foot A-frame lodge constructed of Canadian-pine logs that are 2 feet thick and 28 feet long. [18][19], In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family. 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. They managed an agreement (via their groundskeepers) on choices of island ficus and bougainvillea to plant along the easement. 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. He started casing the joint, looking at it as a place to buy, and did nothing. That it has since been preserved as a national park was what, in 2013, won him the Audubon Societys annual medal for contributions to conservation. The man has a multi-million-dollar yacht, and his marina was silted up, his lawyer in Nassau, Keod Smith, says. Hedge fund managers have been displaced on the Forbes 400 over the last two years not only by tech billionaires, but by a fish stick king, meat processor, vodka distiller and ice tea brewer. Moore Capital's Louis Bacon is running out of ideas amid a volatile macro-economic environment. In his mirrored gym, which now functions as the dining room, he eats dinner and downs the contents of a meticulously marked Baggie full of pills handed to him by a young personal assistant. He dated Anna Nicole Smith for several years. Even the Levys uniforms are low-key: matching polo shirts with the Point House logo, a simple childs drawing of a cottage. Right in Bacons front yard! Bacon announced he was closing his hedge fund and returning outside investors' money in November 2019, citing years of "disappointing results.". [14], In early 2019, it was reported that Peter Nygrd had filed a complaint with the U.S. Federal Court in Manhattan alleging that Bacon had violated sections of the Racketeer Influenced and Corrupt Organizations Act. This easement will provide the founding tract for the proposed new Sangre de Cristo Conservation Area. [21], In 2002 Bacon obtained Austrian citizenship, due to a special provision for figures who have made notable achievements for Austria. Getting younger., More than anything, Nygard is proud of his concrete sanctuary, which in 1992 he persuaded the Bahamian government to rename Nygard Cay to coincide with a Lifestyles of the Rich and Famous segment. They ended up getting somebody else to come find us. (Nygard says that Bacons then wife was most appreciative and that he has never been interested in Bacons house.). Bacon hasnt set foot in the Bahamas in more than a year, claiming it would put his personal safety at risk. But the very fact that area brokers, who make it their business to know the ins and outs of the Hamptons best estates, are foggy on its structures and amenities illustrates just how thick the veil of mystery is surrounding Robins Island. For a 27-year-old, Bacon deployed a powerful Rolodex. [11], In May 2011, the High Court in London granted Bacon a court order to obtain information from the Wikimedia Foundation, The Denver Post, and WordPress as to the identities of internet users alleged to have defamed him by their postings. Left, by Phil Roach/Globe Photos/Zuma Press/Alamy; Right, by Yann Dandois. In 2005, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of the property line. Listen, Lyford Cay is not St. Tropez., Nygards supporters say his parties do stand out, because theyre full of people who wouldnt otherwise be in Lyford Cay. 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. Coiled stone cobras hiss steam at sunset. It is less a driveway than a roadbut also a portion of road that is shared by both neighbors and nobody else, owing to how it cuts right through one mans property and ends at the other mans, which occupies the westernmost tip of the island. 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. Under a program to improve forest health, philanthropist Louis Bacon owns a saw mill near his Colorado ranch that helps thin forests, clear dead tree and reduce the threat of catastrophic fire. [1], Bacon was born in Raleigh, North Carolina on July 25, 1956. Moore Capital Investments didn't perform so well this year, and the major investment return was coupled with the "big cut" in the investment firm. Wendall Jones, the publisher of The Bahama Journal, says, The residents of Lyford Cay say they dont appreciate his flamboyance when what they dont like is the fact that he invites so many black people over. His market insights allowed him to profit during the market crash and subsequent rebound. HMCo #583s Gamecock [Game Cock]. Louis Moore Bacon, whose firm has been caught up in an insider trading scandal today, purchased the beautiful Robins Island back in 1993 for a mere $11 million. And were talking about a land of eight-figure beachfront properties, where the houses are very close to each otherwhere one mans dining room is only about 200 feet from the others revolving acrylic discotheque floor and the glass walls that enclose it with a steady cascade of water. He is best known perhaps for his mansion at the exclusive gated community of Lyford Cay in the Bahamas, where he had a vicious, long running and very public feud with neighbor and disgraced fashion mogul Peter Nygrd. Nygard says that he has not seen the footage and that his lawyers dispute this account. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. He created hedge fund Moore Capital in 1989 using trading profits and a small inheritance. He sued a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. Boats to the island depart from the North Sea Harbor in Southampton. It may be that the only thing Bacon and Nygard have in common, besides a Lyford Cay address, is their joint refusal to ever back down. Louis Bacon is a conservation philanthropist and the founder and Chairman of Moore Capital Management, LP established in March 1989. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. He has a lot of them. His response isnt emotional, Ian Levy says. [28][29], In June 2012, United States Secretary of Interior Ken Salazar and United States Fish and Wildlife Service Director Daniel M. Ashe announced Bacon intends to donate a conservation easement totaling approximately 90,000 acres in the Sangre de Cristo Mountains bordering the San Luis Valley in Colorado. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). 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. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. While neither the notoriously press-shy Bacon nor his philanthropic Moore Charitable Foundation would comment to The Post, a spokesman did make clear that regular hunting parties and celebrity sightings on Robins Island were no more than idle gossip.The official word about Buffett, for instance, is that no one knows anything about the king of the Parrotheads ever dropping by for a friendly visit. By Eric. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. You know that song, Someone left the cake out in the rain? After a few years he stopped paying dues. But its almost criminal for him to even be mentioned in the same paragraph as Peter Nygard.. He mentions that his assistant is one of my main girlfriends.. and crisis-response firm that, in addition to many less controversial clients, has represented the Church of Scientology and Jeffrey Epstein, the New York financier imprisoned in 2008 for soliciting under-age prostitutes. My wife called him, and he came over to our house. Affiliates include TheTrinchera Blanca Foundation, TheTercio Ranch Foundation, The Taos Ski Valley Foundation, TheRobins Island Foundation, TheOrton Foundation, The Moore Bahamas Foundation, and The Islas Secas Foundation. Bacons hedge fund is name-checked, too: MOORE CAPITAL MANAGEMENT. Louis Moore Bacon is a hedge fund manager and philanthropist. All Rights Reserved. As a former yacht captain, if I am sailing and my owner decides to cross with another boat, the other captain and I wont even refer to our boats owners by name. Its not actually my product in terms of my invention, he says, giving credit to his lawyer Keod Smith, an activist who has served in the Bahamian parliament. 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. 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. Louis Moore Bacon married Gabrielle de Heinrich Sacconaghi in Manhattan in 2007, five years after his divorce from his first wife Cynthia Pigott. 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. His key conservation projects include: In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame. The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. The Longleaf Alliance awarded Louis Bacon with the honor to acknowledge his contributions to forest health and his efforts to restore longleaf pine forests in North Carolina. As for the real estate value of Robins Island even in a Hamptons market that is out of control with almost nothing available, according to Breitenbach neither Bacon nor his heirs will ever be able to cash in via development. 2023 Cond Nast. His personal wealth is estimated to be over $1.5 Billion and his hedge fund Moore Capital Management has AUM close to $15 Billion. Moore Capital Management; Gary Gershoff/WireImage, 2023 NYP Holdings, Inc. All Rights Reserved, Reporterdishes on his unique access to Ponzi schemer Bernie Madoff, Yellowstone-inspired ranch in the Hamptons goes up for rent, Alec and Hilaria Baldwin shave $4M off Hamptons farmhouse, Hugh Jackman puts his dream minimalist Hamptons home up for rent. [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. (To give Nygard credit, hes industrious, Bacon concedes. Mr. Bacon is also a member of the Board of Directors of the Foreign Policy Association. Long before the puddle, Nygard clashed stylistically with much of the Lyford Cay establishment. For the preceding 400 years it had been known as Simms Point. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . ), even though his lots location at the tip of the peninsula meant that it was not deeded within the L.C.P.O.A. Now, a nearly decades long-feud between neighboring billionaires, Peter Nygard, a Canadian-born fashion baron, and Louis Bacon, a New York financier, has thrust the notoriously press-shy. Many have been asked to accomplish the task while playing "Six Degrees Of Kevin Bacon," [], Master of Business Administration, Columbia Business School; Bachelor of Arts/Science, Middlebury College. Hes a member of the Racquet and Tennis Club and the Union Club of the City of New York. There was also the matter of sand. All rights reserved. Bush.) To revist this article, visit My Profile, then View saved stories. The owner just wont let you over there to search for it.. The common denominator is his engagement in natural resources, an astute sensitivity to all the components that make a habitat conducive to the area in question, says Peter Talty, an architect who works for Bacons own personal property-management company. I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there. The pair live in the Clifton Bay area of the Bahamas. Linney acted alongside Kevin Bacon in Clint Eastwood-directed Mystic River ( 2003). Both are locked in an eight-year legal war with each other that has turned each man's paradise into hell. When you join or go into somebody elses house or the land, you need to obey their own rules; you need to conform to whatever their standards are, Nygard says. He is the founder and chief executive of Moore Capital Management. (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. They approved it by letter and after a while it sort of grandfathers itself in, he says. Legendary trader Louis Bacon told his investors on Thursday that he would be closing his big multi-manager hedge funds, another signal of the increasing difficulty traders are having making. On his TV is a frozen picture of Bacon bearing the words 5 Lies of Bacon. Outside, on his volleyball court, one of several large signs reads, ITS [sic] TIME TO THROW THE TRASH OUT! Bacon, who founded Moore Capital in 1989 with a $25,000 inheritance. Ive been very supportive. Besides, hes not afraid of a $100 million defamation suit because, as I understand it, the biggest award ever given in New York is for one million, he says. 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. This account it was not deeded within the L.C.P.O.A $ 25,000 inheritance parties and was always doing.. The San Luis Valley billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a York. Signs reads, its a full-time job. ) Laughlin, a New York.. But in 2010, Nygard clashed stylistically with much of the Bahamas in more than one million to! 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