I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there. 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 . And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. People he employed posted an elaborate series of YouTube videos and launched fake news Web siteswith names such as Bahamas Citizen and Bahamas Nationaldevoted to ruining Bacons name. 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. You have to take off your top if we go, he jokes with one of the ladies, flipping his hands upward from his shoulders to pantomime. He always said he would never be done., Nygard initially joined the Lyford Cay Property Owners Association (L.C.P.O.A. Thats totally true, said Cutchogue resident Tonya Witczak, 46. His father, Zachary Bacon Jr., founded real estate company Bacon & Co. and later led Prudential Financials and Merrill Lynchs real estate efforts in North Carolina. 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. This is not a man you just phone up to tell him that a leafs fallen off a tree. 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. The international conservation organization celebrates Louis Bacons commitment to forest health across the United States. Smith, who organized a parade where many participants wore K.K.K. 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. 2023 Cond Nast. 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. He adds that all the land hes been mandated to return to the Bahamas had been unofficially leased to him. 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. I had to move the business as a fiduciary. Started in 1992, the Foundation supports conservation non-profits that ensure the preservation of land, water and wildlife habitats for future generations. [10], In May 2011, Bacon obtained a court order in Great Britain, where he owned property, compelling the Wikimedia Foundation, WordPress and the Denver Post to reveal the identity of anonymous persons who allegedly defamed him on their websites. Nygard designed and constructed the compound himself over more than two decades. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. Bush.) Its blood sport to him. He acknowledges that he feels something similar, with no intention of raising the white flag. Mr. Bacon is also the Chairman of The Moore Charitable . Nygard dispatched workers in the middle of the night to remove the non-locking cast-iron gates from the entrance to Bacons property, to rip up four sets of speed bumps on the portion of the driveway that cut through Bacons land, and to cover the NO TURNAROUND: PRIVATE PROPERTY warning that was painted on the shared road, replacing it with the words NYGARD CAY. 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. A lot of us in the old line viewed him as a curiosity. He flies there in a private jet that bears the words PETER NYGARD N FORCE and once reportedly had a strippers pole inside. But I agree with it. Has he bankrolled it? And it had mosquitoes. 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. 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. 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. Peter Nygard is a hard-partying retail tycoon, whose estate is fit for a Mayan emperor. But Bacon, they insist, has never lost his cool. He dated Anna Nicole Smith for several years. 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? A squadron of peacocks strut on the grounds. 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. 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. His response isnt emotional, Ian Levy says. 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. 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. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. For the preceding 400 years it had been known as Simms Point. Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. It just screamed resolution, one of their lawyers says. The world desperately needs leaders with the courage, drive and political skills to fight climate change and help restore the natural world. Louis Bacon the bilRead More Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West In the main lodge of his Trinchera Blanca ranch in Colorado, Louis Bacon, the founder of the giant hedge fund firm Moore Capital Management, takes in his pristine and wild 172,000-acre tract from a plush leather chair. (He bought the entire 445-acre island in 1993 for $11 million.) A native of North Carolina, Mr. Bacon earned an M.B.A. in Finance from Columbia Business School in New York and holds a Bachelor of Arts degree in American Literature from Middlebury College in Vermont. Its not in keeping with what we do here, but people went out there to look at it. He turned a profit during his fourth semester. After a few years he stopped paying dues. 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. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. The Tao of Taos: Can Louis Bacon Make New Mexico's Soulful Ski Valley a Downhill Mecca? He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. 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. 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. [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 houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. 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 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. The pair live in the Clifton Bay area of the Bahamas. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. [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. Prior to founding Moore Capital, Mr. Bacon was a Senior Vice President-Futures at Shearson Lehman Brothers Inc. The signs are easily seen from the Bacon familys breakfast nook. He paid $5.9 million, then over the next 15 years purchased two adjoining pieces of land for an additional $20 million. I have my own life, you know? 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. This was my dream, my life wrapped up in here. But tonight hes still having fun. 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. (To give Nygard credit, hes industrious, Bacon concedes. A battle between hedge-fund billionaire Louis Bacon and a Canadian clothing magnate spills into New York court. 7 He has owned many yachts, all named Aviva. [17], In 1986 Bacon married Cynthia Pigott,[4] a former Newsweek magazine staff member. Louis doesnt like attention in the first place, says his college friend and Lyford neighbor, Chris Brady. [22], Bacon contributed 500,000 to Britain's Conservative Party between 2010 and 2016. 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. 2023 Forbes Media LLC. [24] In 2015, Bacon donated $1 million to a Super PAC supporting the presidential candidacy of Jeb Bush. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. 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. 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. (The queen was Noor of Jordan.) 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. Born to wealthy family in North Carolina, Bacon made his bones on Wall Street as an investor and hedge fund manager, starting Moore Global Investments in 1990 with $25,000 of family money and. He also blamed Bacon for an unflattering documentary that ran on the Canadian TV series The Fifth Estate in 2010, titled Peter Nygard: Larger than Life. Bacon announced he was closing his hedge fund and returning outside investors' money in November 2019, citing years of "disappointing results.". 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. 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. People were worried about the security of our investors information.. He is the founder of Moore Capital Management LLC and Moore Global Investments. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP ("Moore Capital"). The circumstances don't appear suspicious until Bahamian police also find some. 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. [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. My wife called him, and he came over to our house. 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. Earlier this year, he enlisted the help of Sitrick and Company, a Los Angeles P.R. Born to wealthy family in North Carolina, Bacon made his bones on Wall Street as an investor and hedge fund manager, starting Moore Global Investments in 1990 with $25,000 of family money and turning it in to one of the most lucrative hedge funds ever.But while most masters of the universe tend to take an interest in Hamptons real estate once theyve made their fortune, Bacons interest in Robins Island started back in his college days, when he worked on a charter fishing boat out of Montauk and regularly sailed past the 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. 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! Best Restaurants in Fort Lauderdale [27] Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). He blames the man next door for all of it, citing a string of environmental-degradation suits that Bacon has filed against him in court. He wont think of trying to replicate what he already built. The objections to offshore drilling are economic, environmental and bipartisan. At 74, with his long white hair and vigorously spread family tree (he has had eight children with five women), Nygard is something like the Hugh Hefner of down-market retail. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). Click here for a larger version of our map of billionaire/celebrity networks. Longtime trader and hedge fund manager Louis Bacon is planning to return capital to investors after 30 years of investment. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. Easily seen from the Bacon familys breakfast nook in Fort Lauderdale [ ]. 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