Dealing with Nygard, he says, is like having dog shit on your shoe. (Nygards riposte: I recommend that he change his shoes.), He is short on dialogue: he has little to say that his lawyers cant say for him, because hes doing his best to appear aloof, as if to assert that the feud has failed to get the better of him. He has seven children, four with his first wife and three with his current wife. He no longer holds his Sunday-night pamper parties, which offered everybody free spa treatments. [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. They divorced in 2002, after having four children together. 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. I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there, the sailor, who asked to remain anonymous, said. Bacons hedge fund firm, Moore Capital Management, will be returning all client money in its three main funds, further signaling tough times in the hedge fund business. But I agree with it. Has he bankrolled it? I had some of my boats out there. Although I do not think it is right you should be the one buying it as you are the reason I am selling, so be it.. Robins Island, the private estate of finance billionaire Louis Bacon (inset), could be worth as much as $500 million, local brokers said. SueLyn Medeiros and Nygard at Bahamas Fashion Week, in Nassau, 2008. 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. had been lodging complaints with the government for years, even compiling aerial photographs that documented the expanding dimensions of Nygards coastline thanks to a series of underwater, sand-collecting barrierscalled groinsthat jut out from the shoreline. Louis funded our litigation against the factory-farm industry while he was constantly running into the head of Smithfield in his elevator, because they lived in the same building on Park Avenue, Kennedy says. In January 2015, he leveled a $100 million defamation complaint against Nygard in New York, where both mens businesses are headquartered. In July, the judge assigned to the case issued a ruling limiting Bacons complaints to alleged smears that were published in mid-January 2014 or laterleaving him with 30 of the original 135 claims against Nygard. The whole thing began over a puddle in a driveway. 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. Donald Trump to Evangelicals: You Cant Break Up With Me Because Im Breaking Up With You First, Reality Is Submerged in Fantasy: The Villages Is a Boomers UtopiaAnd Demographic Time Bomb, All the Ways Donald Trump Will Probably Handle Ron DeSantis in 2024, Inside Wealth-Conference Con Man Anthony Ritossas Wild Web of Lies, How Screwed Are Donald Trump and His Adult Children, and Other Questions You Might Have About the Staggering Fraud Lawsuit Against Them. [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 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. Of course he does. Cow Neck Farm, Long Island, New York: Bacon's Cow Neck Preserve, LLC purchased the farm in 1998 and donated a 540-acre conservation easement to the Peconic Land Trust, thus preventing development and ensuring the protection of the area's habitat. He sued the government. 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. The signs are easily seen from the Bacon familys breakfast nook. 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. From college to career, Bacon founded Moore Capital Management and The Moore Charitable Foundation, making smart investments in financial markets and the environment. The 289-foot yacht is the largest private sailboat in the world based . We've received your submission. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP ("Moore Capital"). (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. It just screamed resolution, one of their lawyers says. This easement will provide the founding tract for the proposed new Sangre de Cristo Conservation Area. 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. 6 He is an art collector. He threw a lot of parties and was always doing construction. Right in Bacons front yard! As for his place in Lyford, Point House, you might never guess that the owner is this rich. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. 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. Nygard filed a counterclaim and tells anybody who will listen that Bacon is trying to destroy him out of a simple desire to take over his property, claiming that some years agoNygard cant recall whena real-estate agent came to his house on Bacons behalf and offered $100 million for the place. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. The Moore Charitable Foundation, founded by lifelong conservationistLouis Baconin 1992, is a family foundation that works to preserve and protect natural resources for future generations. They approved it by letter and after a while it sort of grandfathers itself in, he says. They searched the house for guns; there werent any, Ian Levy, Bacons property manager, says. A lot of us in the old line viewed him as a curiosity. The Tao of Taos: Can Louis Bacon Make New Mexico's Soulful Ski Valley a Downhill Mecca? Its a better entrance for his guests and better for me too.. He is the chief executive and founder of Moore Capital Management. 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. Youve probably never heard of Robins Island, a teardrop-shaped islet half the size of Central Park in the Great Peconic Bay on the East End of Long Island. How Much Is Louis Bacon Worth Smith, who organized a parade where many participants wore K.K.K. These things cant go unanswered. For the preceding 400 years it had been known as Simms Point. 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. 10 He resides in Lyford Cay in the Bahamas. 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. [2][4], While at Columbia, Bacon traded commodities using a low interest loan he had received. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. A part of the collection travels with him at his yacht. Was Tiffany involved? [8] In March 2010 Forbes Magazine estimated Bacon's net worth to be $1.5 billion, and ranked him as the 655th richest person in the world. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). In 1997, Bacon granted a conservation easement for most of the island to the Virginia-based global environmental organization the Nature Conservancy, making Robins Island a protected wilderness area. 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.. [17], In 1986 Bacon married Cynthia Pigott,[4] a former Newsweek magazine staff member. 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! Some things you should know about Nygard: His personal history involves emigrating from Finland to Manitoba with his family when he was eight and living out of a converted coalbin. His response isnt emotional, Ian Levy says. With accusations of murder plots, assaults, fire bombings and racially-fueled smear campaigns, the feud between hedge fund billionaire Louis Bacon and clothing tycoon Peter Nygard has escalated to a new level. He also serves on the Leadership Council of the Center for Public Leadership at Harvard Kennedy School and is a member of the Corporate Fund Board of the Kennedy Center. But his hearts as big as Shamu the whale. Nygard is well known throughout the Bahamas for his financial support of the countrys Olympic running squads, among many other charities. By Eric. Nygard, the suit alleges, has been the ringleader behind a vast multi-media smear campaignTV and radio ads purchased, Web sites created, videos doctored, T-shirts printed, and even hate rallies staged with parades through Nassauall in the name of labeling Bacon a racist, a thief, and a terrorist, and bearing messages such as BACON GO HOME. Bacon famously donated a conservation easement of more than 500 acres in Cow Neck to Peconic Land Trust in 2001, according to The New York Times . My wife called him, and he came over to our house. 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. 2023 Cond Nast. Last night, the famously private hedge fund tycoon Louis Bacon, let down his guard about loving the land. ), even though his lots location at the tip of the peninsula meant that it was not deeded within the L.C.P.O.A. The pair live in the Clifton Bay area of the Bahamas. [2][3] Bacon met Walter Frank while he was working on a fishing boat on Long Island. HMCo #583s Gamecock [Game Cock]. His key conservation projects include: In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame. Forbes once summed up his investment strategy as secretive, risk-conscious, a bit paranoid. If, on a lark, he were persuaded to read for a movie part calling for a handsome Wall Street kingpin type, hed probably be turned down because the fit seems too perfect to be credible: sculpted mandible, enviably tousled locks. We went and got a special barge, huge undertaking, he says of importing them, adding that it was the first building he erected. Mr. Bacon currently serves on the Board of Overseers at Columbia Business School. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. 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. The international conservation organization celebrates Louis Bacons commitment to forest health across the United States. The fellowship brings together emerging leaders from government, business, and NGOs who . Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. [9], As of March 2022, Bacon holds a substantial interest in EV startup, Fisker Inc. with Bacon's Moore Capital Management holding 8.45 million Fisker shares. There was also the matter of sand. The court granted Bacon's application to serve a Norwich Pharmacal Order by email against these websites. (To give Nygard credit, hes industrious, Bacon concedes. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. Louis Moore Bacon is a hedge fund manager and philanthropist. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. Jerry Falwell Jr. was the Trump-anointing dark prince of the Christian right. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. But it may very well be the most valuable private estate in all of the Hamptons and the most untouchable. I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there. In the time since Nygard began living there, his piece of land has grown from 3.25 acres to 6.1 acres. [2], Bacon graduated from Episcopal High School in Alexandria, Virginia. For more than a decade the men battled in courts from London to Los Angeles, exchanging lawsuits over development rights and defamation suits, including accusations of drug trafficking, character assassination and even a soupon of murder. The multi-hued structures are festooned with thousands of colored lightbulbs. 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. 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. 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. This chart appears in the Mar. Louis Bacon is a buttoned-up hedge-fund king, whose passion is conservation. Billionaire Louis Bacon purchased the soulful New Mexico ski valley with It was Bacon's second marriage. [2] He subsequently received his MBA degree in finance at Columbia Business School in 1981. It has reached a point where neither man, though each used to consider Lyford Cay his rightful home, spends much time there anymore. He is famous in the Bahamas. He started casing the joint, looking at it as a place to buy, and did nothing. I lost that recipe. Moore Capital's Louis Bacon is running out of ideas amid a volatile macro-economic environment. Nygard says he wants Bacon to leave Lyford Cay: I think, at this point, it would be better if he did. He would consider nothing less a satisfactory end to their grudge match. Louis Bacon is a buttoned-up hedge-fund king, whose passion is conservation. Bacon has two luxury craft: a 74-foot 1954 Marinette Marine Corp. vessel docked in New Suffolk, and 'Kanga' a 38-foot boat he keeps on Robins Island. And one mans overflow of parked cars along the driveway on that sleepless neighbors side of the property line is another mans reason to have the section of the driveway that cuts through his property re-graded and rebuilt, adding a dip and tall flagstone walls on either side, leaving no shoulder space for anybody to ever conceivably think of parking there, while also screening the driveway from view. But Nygard got off to a bad start. Nygard says he never tried to join the club, and also denies being a bully, adding, Most of my relationships with the Lyford Cay community were pristine until Louis Bacon came and destroyed many of them. Resting off the coast of Long . And the issue of the runoff on the driveway? It gives you a certain sense of purpose that, I guess, girds you to continue. What is it that Im working on? Its not the first time Bacon has preserved insanely valuable real estate. 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 . [5], After receiving his MBA, Bacon joined the sales and trading program at Bankers Trust. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. Member firm Edgerly & Crocker since 1900; also of Central Aguirre Sugar Co. Republican. Hedge fund billionaire Louis Bacon's gardener is found in the buff and in the Jacuzziand also dead. At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. we used to be friendswhat happened? 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 Trinchera section of the ranch is currently protected by an easement administered by Colorado Open Lands. Meanwhile, Lyford residents and the L.C.P.O.A. Ski and Snowboard Team Foundation. 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. Thats when Nygard got mad. Bacon landed at Shearson Lehman Hutton in 1983 as a futures broker, trading on behalf of some of the biggest names in the hedge fund world. Nygard kept going. hoods and carried anti-Bacon signs, said he came up with the idea after he noticed, on some New York library or historical-society Web site, that someone with the same name as Bacons mother mentioned that her grandfather had been a Klan leader in North Carolina. It wasnt vengeance, he says. He talks about the virtues of exercise and healthy eating, and he takes about 50 pills a dayvitamins, supplements, pharmaceuticals, he says. I have my own life, you know? Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. If it were just raw land, Id guess Robins Island would be worth about a $100 million, Corcorans Susan Breitenbach guessed, noting that she has never visited the island. [2][4][6], In 1987 Bacon founded Remington Trading Partners. Nygard is convinced that Bacon orchestrated all his problems with Lyford Cay and the government. 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. 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. Theyre not parties the typical Lyford Cay family is having with their grandchildren. 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. Mar 30, 2011, 6:48 AM. Even the Levys uniforms are low-key: matching polo shirts with the Point House logo, a simple childs drawing of a cottage. He is the founder and chief executive of Moore Capital Management. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. Another ancestor, Bartholomew Moore, was a lawyer who argued in a landmark case that slaves had the legal right to protect themselves from a violent master. On another is Bacons face with the word CRIMINAL stamped over his forehead. Its blood sport to him. He acknowledges that he feels something similar, with no intention of raising the white flag. He flies there in a private jet that bears the words PETER NYGARD N FORCE and once reportedly had a strippers pole inside. But depending on whats out there in terms of infrastructure, it might be worth from $200 million to $500 million.. Best Restaurants in Fort Lauderdale Bacon and his wife, Gabrielle, at the Metropolitan Museum of Art, New York, 2014. [12][13], Legal experts did not believe the order was enforceable in the United States because of its policy related to freedom of speech. 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. Its quiet money, says David Laughlin, a New York financier (second-generation Lyford) and chairman of the Lyford Cay Club. 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. Instead, everybody stays up until three A.M. playing poker. Earlier this year, he enlisted the help of Sitrick and Company, a Los Angeles P.R. [5], In 2007, he married Gabrielle Sacconaghi in Manhattan. 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. 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 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. I had to move the business as a fiduciary. 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. Mr. Bacon is also a member of the Board of Directors of the Foreign Policy Association. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. Ann Colley, Director of Public Relations and Charitable Giving at Moore Capital Management, is the Executive Director and Vice President. 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. His market insights allowed him to profit during the market crash and subsequent rebound. A squadron of peacocks strut on the grounds. In 2005, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of the property line. 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. He took steps to sue the Lyford Cay Property Owners Association. Former Interior Secretary Ken Salazar and conservation philanthropist Louis Bacon say super fires should not be the new normal. He adds that all the land hes been mandated to return to the Bahamas had been unofficially leased to him. 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. 26 Billionaires edition of Forbes magazine. And around it, the adjacent properties are dark., From time to time I see the procession of people coming to his partiesmotorcades full of these attractive girls, says Jean-Charles de Ravenel. 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. 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. 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. Mr. Bacon is also the Chairman of The Moore Charitable . As of February 2017, Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400. 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. Longtime trader and hedge fund manager Louis Bacon is planning to return capital to investors after 30 years of investment. 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. 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. Hedge fund billionaire Louis Bacon did so at a cost of $400 million--and his privacy. 8 His latest yacht has an indoor paddle tennis court. Nygard designed and constructed the compound himself over more than two decades. 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? I was part of his search committee. Bacon relates the same incident, though he says that Nygard was most ungallant. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. 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. 2 ] he subsequently received his MBA degree in finance at Columbia, Bacon graduated from Episcopal High School 1981. The piece was accompanied by a lavish Slim Aarons photo spread a:. Pole inside and did nothing it would be better if he did white flag Angeles P.R riposte... 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