1 00:00:00,160 --> 00:00:04,160 Jeffrey Epstein, the disgraced financier, was a college dropout 2 00:00:04,280 --> 00:00:08,200 who managed to amass a fortune that's difficult to explain 3 00:00:08,400 --> 00:00:12,320 before dying mysteriously in his jail cell in 2019. 4 00:00:12,600 --> 00:00:16,800 He wasn't a rapper like P Diddy, yet he owned 2 private islands, 5 00:00:17,000 --> 00:00:20,520 multiple private jets, and homes all over the world. 6 00:00:20,760 --> 00:00:23,640 He befriended presidents, Princess scientists, 7 00:00:23,640 --> 00:00:27,360 celebrities, businessmen, and billionaires and was described 8 00:00:27,360 --> 00:00:32,320 by prosecutors in 2019 as a man of nearly infinite means. 9 00:00:32,560 --> 00:00:36,680 Yet despite years of investigations, no one can say 10 00:00:36,680 --> 00:00:39,160 with certainty how he made his money. 11 00:00:39,600 --> 00:00:44,560 Bloomberg rode after his arrest in 2019 that for all his infamy, 12 00:00:44,680 --> 00:00:49,320 there's scant details of how he made his money. the FT similarly 13 00:00:49,320 --> 00:00:52,920 wrote around the same time that this question has confounded 14 00:00:52,920 --> 00:00:57,480 journalists for decades, given his links to big names and the 15 00:00:57,480 --> 00:00:59,800 subsequent allegations against him. 16 00:01:00,080 --> 00:01:03,080 There's been major public interest in the life and the 17 00:01:03,080 --> 00:01:07,360 wealth of Jeffrey Epstein, along with his crimes and the network 18 00:01:07,360 --> 00:01:10,240 of influential enablers that surrounded him. 19 00:01:11,080 --> 00:01:14,680 Epstein was born in Brooklyn, the son of a groundskeeper and a 20 00:01:14,680 --> 00:01:18,040 stay at home mom. He graduated high school and 21 00:01:18,040 --> 00:01:22,520 briefly attended Cooper Union and NYU before dropping out of 22 00:01:22,520 --> 00:01:26,000 both after falsely claiming to have a college degree. 23 00:01:26,120 --> 00:01:29,680 He briefly taught math and physics at a private high school 24 00:01:29,680 --> 00:01:33,640 in New York before being dismissed after two years for 25 00:01:33,680 --> 00:01:37,240 poor performance. He went on to work for a few 26 00:01:37,240 --> 00:01:41,320 years at Bear Stearns and after being laid off, claimed to be 27 00:01:41,320 --> 00:01:45,080 running a money management firm for the ultra wealthy. 28 00:01:45,560 --> 00:01:49,400 His firm's operations were opaque, it's client list never 29 00:01:49,400 --> 00:01:52,480 disclosed and it's assets never verified. 30 00:01:52,680 --> 00:01:57,120 He had only 1 confirmed client and everything else is a fog of 31 00:01:57,120 --> 00:02:00,320 speculation. Secretive offshore companies 32 00:02:00,440 --> 00:02:04,880 whispered blackmail theories and a social circle that included 33 00:02:04,880 --> 00:02:08,400 everyone from US Presidents to British royalty. 34 00:02:08,880 --> 00:02:13,440 The controversy over Epstein's debt became a hot topic once 35 00:02:13,440 --> 00:02:16,840 again when Donald Trump returned to office in January. 36 00:02:17,160 --> 00:02:21,760 Trump chose top law enforcement officials like Pam Bondi, Dan 37 00:02:21,760 --> 00:02:25,720 Bongino and Kash Patel, who earned much of their political 38 00:02:25,720 --> 00:02:29,560 capital by encouraging conspiracy theories about the 39 00:02:29,560 --> 00:02:32,640 deep state. Trump himself had implied on 40 00:02:32,640 --> 00:02:36,640 multiple occasions that there was information in the Epstein 41 00:02:36,640 --> 00:02:40,040 files that would take down his political opponents. 42 00:02:40,120 --> 00:02:45,840 Bill Clinton, nice guy, got a lot of problems coming up, in my 43 00:02:45,840 --> 00:02:49,400 opinion, with the famous island. With Jeffrey Epstein, a lot of 44 00:02:49,400 --> 00:02:51,880 problems. After teasing that a big 45 00:02:51,880 --> 00:02:54,800 announcement was in the pipeline, the Department of 46 00:02:54,800 --> 00:02:59,280 Justice and FBI finally came out a few weeks ago with an 47 00:02:59,280 --> 00:03:02,080 announcement that there was nothing to see. 48 00:03:02,280 --> 00:03:06,280 There was no client list, no one was implicated in the files, and 49 00:03:06,280 --> 00:03:10,440 Epstein had taken his own life contradicting long held 50 00:03:10,440 --> 00:03:12,960 conspiracy theories about the case. 51 00:03:13,600 --> 00:03:17,200 When the FBI later released clearly doctored footage from 52 00:03:17,200 --> 00:03:21,240 the only functioning camera near Epstein's prison cell the night 53 00:03:21,240 --> 00:03:25,360 he died, the mega base were enraged that there was a cover 54 00:03:25,360 --> 00:03:29,480 up, and some were possibly disappointed that Kash Patel was 55 00:03:29,480 --> 00:03:32,720 such a sloppy video editor. There's a point at which you 56 00:03:32,720 --> 00:03:35,400 just have to hire someone in who knows what they're doing. 57 00:03:36,080 --> 00:03:40,320 As public pressure mounts and conspiracy theories swirl, one 58 00:03:40,320 --> 00:03:42,920 question remains at the heart of the scandal. 59 00:03:43,040 --> 00:03:46,880 And that is, how did Jeffrey Epstein really make his money? 60 00:03:47,560 --> 00:03:52,360 When federal prosecutors charged Jeffrey Epstein in 2019, they 61 00:03:52,360 --> 00:03:55,120 described him as the orchestrator of a vast 62 00:03:55,120 --> 00:03:59,200 trafficking operation that exploited hundreds of underage 63 00:03:59,200 --> 00:04:01,240 girls. Authorities claimed to have 64 00:04:01,240 --> 00:04:04,800 gathered a trove of damning evidence that included 65 00:04:04,880 --> 00:04:09,440 photographic and video evidence, financial records and digital 66 00:04:09,440 --> 00:04:13,960 files that allegedly pointed to a broader network of enablers 67 00:04:13,960 --> 00:04:16,760 and clients. This July, the Department of 68 00:04:16,760 --> 00:04:21,480 Justice and FBI released a memo stating that after an exhaustive 69 00:04:21,480 --> 00:04:26,640 review of over 300 gigabytes of data and physical evidence, they 70 00:04:26,640 --> 00:04:31,280 found no incriminating client list and no credible evidence 71 00:04:31,480 --> 00:04:34,600 that Epstein blackmailed prominent individuals. 72 00:04:35,360 --> 00:04:39,320 This sudden shift in narrative, after years of speculation and 73 00:04:39,320 --> 00:04:43,720 public expectation, has only deepened suspicion and fuelled 74 00:04:43,720 --> 00:04:48,320 renewed conspiracy theories. Despite the opacity around the 75 00:04:48,320 --> 00:04:52,320 origins of his wealth, the scale of Jeffrey Epstein's fortune was 76 00:04:52,320 --> 00:04:55,360 undeniable. A filing in his criminal case 77 00:04:55,520 --> 00:05:00,680 pegged his net worth at roughly $560 million, while The New York 78 00:05:00,680 --> 00:05:04,720 Times later estimated it at $600 million. 79 00:05:05,280 --> 00:05:10,080 His assets included a portfolio of luxury homes, including a $77 80 00:05:10,080 --> 00:05:14,520 million Manhattan townhouse where he was arrested, a $12 81 00:05:14,520 --> 00:05:19,720 million estate in Palm Beach, a $17 million ranch in New Mexico 82 00:05:19,920 --> 00:05:23,200 and an $8.6 million apartment in Paris. 83 00:05:23,600 --> 00:05:26,240 His two private islands, Little St. 84 00:05:26,240 --> 00:05:30,840 James and Great Saint James, were valued at $86 million at 85 00:05:30,840 --> 00:05:34,880 the time of his death. He owned 3 private jets, a 86 00:05:34,880 --> 00:05:38,360 helicopter and a fleet of at least 15 vehicles. 87 00:05:38,600 --> 00:05:43,040 His most famous plane, dubbed the Lolita Express, was not just 88 00:05:43,040 --> 00:05:47,560 an ordinary private jet. It was a Boeing 720 Seven 100, 89 00:05:47,720 --> 00:05:51,000 which if kitted out as a commercial jet, would have held 90 00:05:51,000 --> 00:05:55,680 150 passengers. These holdings paint the picture 91 00:05:55,800 --> 00:06:00,720 of a man with immense financial power, but was there any clear 92 00:06:00,720 --> 00:06:04,280 or credible explanation of how he acquired it? 93 00:06:04,840 --> 00:06:08,400 Although Epstein was often described as a billionaire, even 94 00:06:08,400 --> 00:06:11,800 prosecutors hesitated to confirm that label. 95 00:06:11,960 --> 00:06:15,760 His firm, Financial Trust Company, was based in the US 96 00:06:15,760 --> 00:06:19,520 Virgin Islands and never released audited statements or 97 00:06:19,520 --> 00:06:23,040 performance data. This lack of transparency, 98 00:06:23,320 --> 00:06:26,800 combined with conflicting reports about the size of his 99 00:06:26,800 --> 00:06:31,680 staff and losses during the 2008 financial crisis, cast serious 100 00:06:31,680 --> 00:06:35,040 doubt on whether his fortune ever reached the scale he 101 00:06:35,040 --> 00:06:37,560 claimed. One of the most troubling 102 00:06:37,560 --> 00:06:41,560 aspects of the Epstein saga is how long it took for federal 103 00:06:41,560 --> 00:06:45,520 charges to be brought against him, despite mounting evidence 104 00:06:45,520 --> 00:06:50,800 and dozens of victims. In 2007 and 2008, Epstein faced 105 00:06:50,800 --> 00:06:54,760 serious allegations in Florida, but instead of being prosecuted 106 00:06:54,760 --> 00:06:58,720 federally, he struck A controversial non prosecution 107 00:06:58,720 --> 00:07:03,320 agreement with then US Attorney Alexander Acosta, who would 108 00:07:03,320 --> 00:07:06,440 later serve as Donald Trump's labor secretary. 109 00:07:06,920 --> 00:07:10,760 The deal allowed Epstein to plead guilty to lesser state 110 00:07:10,760 --> 00:07:14,840 charges of soliciting prostitution, resulting in just 111 00:07:14,840 --> 00:07:19,480 thirteen months in a county jail with work release privileges and 112 00:07:19,480 --> 00:07:22,840 a requirement to register as an ex offender. 113 00:07:23,120 --> 00:07:27,080 This agreement was kept secret from Epstein's victims, a 114 00:07:27,080 --> 00:07:29,920 violation of federal victims rights laws. 115 00:07:30,200 --> 00:07:34,200 At the time, Epstein was represented by a legal dream 116 00:07:34,200 --> 00:07:37,560 team that included Alan Dershowitz and Kenneth Starr, 117 00:07:37,840 --> 00:07:42,160 both of whom wielded significant political and legal influence. 118 00:07:42,560 --> 00:07:47,840 Prosecutors in 2019 were accused by Epstein's lawyers of trying 119 00:07:47,840 --> 00:07:52,320 to redo the Miami case when a deal had already been struck. 120 00:07:52,600 --> 00:07:56,000 The leniency of the original plea deal, the secrecy 121 00:07:56,000 --> 00:07:59,760 surrounding it and the powerful figures involved have since 122 00:07:59,760 --> 00:08:03,520 become central to a wave of conspiracy theories, many of 123 00:08:03,520 --> 00:08:07,080 which question whether Epstein was protected by a broader 124 00:08:07,080 --> 00:08:10,800 network of elites. Epstein's early career offers 125 00:08:10,800 --> 00:08:14,560 the first glimpse into the improbable rise that would later 126 00:08:14,560 --> 00:08:17,680 define his life. Born in the Coney Island 127 00:08:17,680 --> 00:08:22,080 neighborhood of Brooklyn in 1953 to working class parents, 128 00:08:22,280 --> 00:08:25,440 Epstein dropped out of university without earning a 129 00:08:25,440 --> 00:08:28,480 degree. Despite this, he landed a job 130 00:08:28,520 --> 00:08:32,679 teaching math and physics at the elite Dalton School in Manhattan 131 00:08:32,679 --> 00:08:36,720 in the early 1970s. There he caught the attention of 132 00:08:36,720 --> 00:08:41,120 a parent, Alan Greenberg, the chairman of Bear Stearns, who 133 00:08:41,120 --> 00:08:44,840 helped him secure an entry level position at the investment bank. 134 00:08:44,840 --> 00:08:50,960 After he lost his teaching job in 1976, Epstein rose rapidly, 135 00:08:50,960 --> 00:08:55,640 becoming a partner within four years, an unusually fast ascent, 136 00:08:55,760 --> 00:08:59,240 especially for someone with no formal financial training. 137 00:08:59,840 --> 00:09:03,560 But just one year after making partner, his career at Bear 138 00:09:03,560 --> 00:09:07,760 Stearns came to an abrupt end. According to the New York Times, 139 00:09:07,960 --> 00:09:12,360 Epstein told the SEC during an insider trading investigation 140 00:09:12,560 --> 00:09:15,200 that he had been let go for three reasons. 141 00:09:15,440 --> 00:09:18,720 He had lent money to a friend to buy stock, there were 142 00:09:18,720 --> 00:09:22,760 irregularities with his expense account, and there were rumours 143 00:09:22,760 --> 00:09:26,240 of an affair with a secretary. They're never charged with 144 00:09:26,240 --> 00:09:29,160 wrongdoing. The episode marked the beginning 145 00:09:29,320 --> 00:09:33,120 of a pattern Epstein's ability to gain access to elite 146 00:09:33,120 --> 00:09:36,520 institutions and powerful people, often without the 147 00:09:36,520 --> 00:09:39,960 credentials or transparency typically required. 148 00:09:40,360 --> 00:09:44,280 After leaving Bear Stearns, Epstein launched his own firm, 149 00:09:44,520 --> 00:09:48,560 Intercontinental Assets Group, which claimed to specialized in 150 00:09:48,560 --> 00:09:51,360 recovering stolen or embezzled funds. 151 00:09:51,800 --> 00:09:56,560 By the late 1980s, he had formed J Epstein and Company, the 152 00:09:56,560 --> 00:10:00,080 investment firm that would become the claim source of his 153 00:10:00,080 --> 00:10:04,600 wealth and elite connections. Epstein announced at the time 154 00:10:04,800 --> 00:10:08,960 that he only accepted accounts worth over $1 billion. 155 00:10:09,160 --> 00:10:12,600 It's worth noting that there were fewer than 500 billionaires 156 00:10:12,600 --> 00:10:16,560 worldwide at the time, making his supposed client base 157 00:10:16,720 --> 00:10:21,280 extraordinarily exclusive. In reality, it would appear that 158 00:10:21,280 --> 00:10:25,160 Epstein had only one major client, Les Wexner, the 159 00:10:25,160 --> 00:10:29,680 billionaire founder of L Brands. For more than a decade, Epstein 160 00:10:29,680 --> 00:10:33,520 served as Wexner's personal money manager and advisor, 161 00:10:34,040 --> 00:10:37,200 reportedly earning hundreds of millions of dollars in the 162 00:10:37,200 --> 00:10:40,680 process. Their relationship was unusually 163 00:10:40,680 --> 00:10:45,200 close, so much that Wexner transferred ownership of a $77 164 00:10:45,200 --> 00:10:49,480 million Manhattan mansion to Epstein's Virgin Islands based 165 00:10:49,480 --> 00:10:54,320 company for no recorded payment. According to the New York Times, 166 00:10:54,520 --> 00:10:59,240 a 2002 corporate filing revealed that Epstein Asset management 167 00:10:59,240 --> 00:11:03,480 firm had just $88 million in shareholder contributions and 168 00:11:03,480 --> 00:11:08,360 around 20 employees, far fewer than the 150 claimed in media 169 00:11:08,360 --> 00:11:12,200 profiles at the time. The contradictions between 170 00:11:12,200 --> 00:11:15,760 Epstein's public image and the limited evidence of his 171 00:11:15,760 --> 00:11:20,680 financial operations only deepen the mystery of the true source 172 00:11:20,680 --> 00:11:24,480 of his wealth. In 1987, Jeffrey Epstein was 173 00:11:24,480 --> 00:11:29,960 hired as a high paid consultant by Stephen Hoffenberg, then CEO 174 00:11:29,960 --> 00:11:33,840 of Towers Financial Corporation, a Manhattan based debt 175 00:11:33,840 --> 00:11:38,040 collection agency that would later be exposed as the operator 176 00:11:38,040 --> 00:11:41,440 of one of the largest Ponzi schemes in the US history. 177 00:11:42,160 --> 00:11:46,720 Hoffenberg paid Epstein $25,000 a month and set him up with an 178 00:11:46,720 --> 00:11:50,640 office describing him as his wingman and closest friend. 179 00:11:50,640 --> 00:11:55,920 During that period together, the two men attempted high profile 180 00:11:55,920 --> 00:12:00,400 corporate takeovers, including failed bids for Pan Am and Emery 181 00:12:00,400 --> 00:12:03,360 Air Freight. But behind the scenes, Towers 182 00:12:03,360 --> 00:12:08,080 Financial was raising more than $400 million by selling 183 00:12:08,080 --> 00:12:11,560 fraudulent bonds and promissory notes to investors. 184 00:12:11,920 --> 00:12:16,360 This money was used not to fund legitimate operations, but to 185 00:12:16,360 --> 00:12:21,160 pay off earlier investors, cover operating costs and finance 186 00:12:21,160 --> 00:12:25,120 lavish lifestyles, including private jets, luxury homes and 187 00:12:25,120 --> 00:12:28,880 expensive cars. Huffenberg later claimed that 188 00:12:28,880 --> 00:12:32,280 Epstein was the mastermind behind the scheme's financial 189 00:12:32,280 --> 00:12:36,000 engineering, describing him as the architect of both the 190 00:12:36,000 --> 00:12:39,920 insurance bond fraud and a stock manipulation strategy. 191 00:12:40,560 --> 00:12:44,360 Court records and attorneys involved in the case confirmed 192 00:12:44,480 --> 00:12:48,240 that Epstein's name appeared on organizational charts and that 193 00:12:48,240 --> 00:12:50,640 he held a senior role at the firm. 194 00:12:50,840 --> 00:12:54,680 Yet despite his proximity to the fraud, Epstein was never 195 00:12:54,680 --> 00:12:57,520 charged. This episode is one of the most 196 00:12:57,520 --> 00:13:01,560 glaring examples of Epstein's ability to operate in elite 197 00:13:01,560 --> 00:13:05,880 financial circles while avoiding legal consequences, even when 198 00:13:05,880 --> 00:13:09,520 his business partner was convicted and spent 18 years in 199 00:13:09,520 --> 00:13:12,560 prison. While Les Wexner is the only 200 00:13:12,560 --> 00:13:16,160 confirmed long term client of Jeffrey Epstein, evidence 201 00:13:16,160 --> 00:13:19,840 suggests that he had financial dealings with several other 202 00:13:19,840 --> 00:13:23,200 wealthy individuals, though the nature and scope of these 203 00:13:23,200 --> 00:13:27,920 relationships remains murky. Beyond Wexner, the New York 204 00:13:27,920 --> 00:13:32,400 Times reports that Epstein briefly served as Co trustee for 205 00:13:32,400 --> 00:13:36,440 Johnson and Johnson heiress Elizabeth Johnson, appearing on 206 00:13:36,440 --> 00:13:41,000 deeds for 14 parcels of lands in Dutchess County, New York, 207 00:13:41,200 --> 00:13:46,800 before resigning in 1998. Epstein also had ties with Leon 208 00:13:46,800 --> 00:13:49,960 Black, the billionaire Co founder of Apollo Global 209 00:13:49,960 --> 00:13:52,960 Management. Black is reported to have paid 210 00:13:52,960 --> 00:13:58,160 Epstein $158,000,000 in fees, which he claims were for things 211 00:13:58,160 --> 00:14:00,520 like tax advice and estate planning. 212 00:14:01,160 --> 00:14:04,640 It's somewhat surprising that Jeffrey Epstein, a man with no 213 00:14:04,640 --> 00:14:09,120 obvious tax experience, would get hired as a tax advisor by 214 00:14:09,120 --> 00:14:12,960 someone like Leon Black, who you would imagine has access to the 215 00:14:12,960 --> 00:14:16,840 best tax lawyers in the world. On top of that, tax lawyers 216 00:14:17,040 --> 00:14:20,840 don't typically charge $158,000,000 in fees. 217 00:14:21,320 --> 00:14:23,760 Now. Paying someone for tax advice in 218 00:14:23,760 --> 00:14:26,360 no way implicates you for their crimes. 219 00:14:26,680 --> 00:14:30,120 I don't tend to shout it from the rooftops that years ago I 220 00:14:30,120 --> 00:14:33,720 hired the Boston Strangler to teach me how to play tennis. 221 00:14:33,960 --> 00:14:37,560 I had no idea what he was up to in his spare time, and I thought 222 00:14:37,560 --> 00:14:40,640 that he got that nickname because he held onto his racket 223 00:14:40,640 --> 00:14:45,480 so tightly. The FT reported in 2021 that 224 00:14:45,480 --> 00:14:49,960 Leon Black attributes A sizeable part of his family Weld to 225 00:14:49,960 --> 00:14:54,160 Jeffrey Epstein, saying that as much as $2 billion of his then 226 00:14:54,160 --> 00:14:58,000 $8 billion fortune could be traced back to Epstein's 227 00:14:58,000 --> 00:15:02,240 financial acumen. Epstein allegedly also served as 228 00:15:02,240 --> 00:15:07,240 Mr. Black's advisor on issues like management of his yacht and 229 00:15:07,240 --> 00:15:11,320 plane, and helped settle a dispute over the ownership of a 230 00:15:11,320 --> 00:15:15,520 valuable sculpture. Even after Epstein's 2008 231 00:15:15,520 --> 00:15:19,880 conviction, Black continued the relationship, later justifying 232 00:15:19,880 --> 00:15:22,600 it as a belief in second chances. 233 00:15:23,160 --> 00:15:27,640 In October 2020, after new revelations of Mr. Black's 234 00:15:27,640 --> 00:15:31,040 payments to Epstein prompted a number of pension funds to 235 00:15:31,040 --> 00:15:35,200 freeze further investments with Apollo, Black hired a law firm 236 00:15:35,400 --> 00:15:39,120 to investigate his behavior. They found that he had done 237 00:15:39,160 --> 00:15:42,840 nothing wrong. Mr. Black has characterized 238 00:15:42,840 --> 00:15:47,040 himself as someone who believes in giving people second chances, 239 00:15:47,040 --> 00:15:48,840 according to the lawyer's report. 240 00:15:49,640 --> 00:15:53,040 That's in keeping with other relationships Mr. Black has 241 00:15:53,040 --> 00:15:57,080 maintained with convicted criminals like Martha Stewart, a 242 00:15:57,080 --> 00:16:01,760 known associate of Snoop Dogg's who was convicted in 2004 of a 243 00:16:01,760 --> 00:16:05,440 somewhat less serious crime than Epstein was, where she was 244 00:16:05,440 --> 00:16:09,280 convicted of conspiracy, obstruction and two counts of 245 00:16:09,280 --> 00:16:12,280 lying to federal investigators about a stock trade. 246 00:16:13,040 --> 00:16:18,560 According to CNN, in 2023, Leon Black agreed to pay the Virgin 247 00:16:18,560 --> 00:16:23,280 Islands government $62.5 million, and in exchange, the 248 00:16:23,280 --> 00:16:27,200 government released Black from any current and future legal 249 00:16:27,200 --> 00:16:29,640 claims related to Jeffrey Epstein. 250 00:16:30,360 --> 00:16:34,880 According to a 2019 Vanity Fair article by William Cohen, 251 00:16:35,160 --> 00:16:39,240 Epstein's relationship with the hedge fund manager Glenn Dubin 252 00:16:39,440 --> 00:16:43,960 is a case study in how Epstein's social life interacted with his 253 00:16:43,960 --> 00:16:47,200 business. Cohen explains in the article 254 00:16:47,400 --> 00:16:51,000 that the two men were first introduced by Dubin's wife, a 255 00:16:51,000 --> 00:16:54,720 former Miss Wheaton and ex-girlfriend of Epstein's. 256 00:16:55,000 --> 00:16:59,160 Despite this awkward history, Epstein became deeply embedded 257 00:16:59,160 --> 00:17:02,920 in the Dubin family's life, reportedly even serving as 258 00:17:02,920 --> 00:17:06,280 godfather to their children, a claim that Dubin's 259 00:17:06,280 --> 00:17:11,119 representatives later denied. This friendship later translated 260 00:17:11,119 --> 00:17:15,280 into financial ties. Epstein allegedly received a fee 261 00:17:15,400 --> 00:17:19,000 for helping broker the sale of Dubin's hedge fund to JP Morgan 262 00:17:19,000 --> 00:17:23,119 Chase and invested hundreds of millions of dollars in funds run 263 00:17:23,119 --> 00:17:26,760 by Dubin's proteges. These transactions show how 264 00:17:26,800 --> 00:17:31,040 Epstein leveraged personal relationships to gain financial 265 00:17:31,040 --> 00:17:34,600 access and legitimacy, often without scrutiny of his 266 00:17:34,600 --> 00:17:37,160 background or the origins of his wealth. 267 00:17:37,920 --> 00:17:41,640 The article suggests that Epstein's social credibility 268 00:17:41,760 --> 00:17:45,800 allowed him to operate in elite financial circles, despite the 269 00:17:45,800 --> 00:17:49,920 mystery about his wealth. Dubin's role in introducing 270 00:17:49,920 --> 00:17:53,120 Epstein to other fund managers and the subsequent large 271 00:17:53,120 --> 00:17:57,080 investments Epstein made in their funds show how Epstein 272 00:17:57,080 --> 00:18:00,680 social network directly facilitated his financial 273 00:18:00,680 --> 00:18:03,200 dealings. Yet when Epstein's crimes 274 00:18:03,200 --> 00:18:08,120 resurfaced in 2019, the Duban's allegedly distanced themselves 275 00:18:08,120 --> 00:18:11,280 from him, claiming ignorance of his crimes. 276 00:18:12,320 --> 00:18:16,000 Epstein name also appears in connection with a small 277 00:18:16,000 --> 00:18:19,440 emissions control company called Environmental Solutions 278 00:18:19,440 --> 00:18:23,840 Worldwide, in which he invested alongside individuals close to 279 00:18:23,840 --> 00:18:27,240 Leon Black. This company was the only one 280 00:18:27,240 --> 00:18:31,040 for which Epstein firm ever filed an SEC disclosure. 281 00:18:31,720 --> 00:18:35,440 These scattered and often informal relationships, many 282 00:18:35,440 --> 00:18:39,840 involving vast sums of money but little documentation, under 283 00:18:39,840 --> 00:18:42,800 score the mystery of Epstein's financial life. 284 00:18:43,000 --> 00:18:46,640 He operated in elite financial circles, moved hundreds of 285 00:18:46,640 --> 00:18:51,160 millions of dollars, and advised billionaires, all while leaving 286 00:18:51,160 --> 00:18:57,520 behind almost no public record. In 2019, Les Wexner accused 287 00:18:57,520 --> 00:19:01,400 Jeffrey Epstein of misappropriating more than $46 288 00:19:01,400 --> 00:19:05,200 million while managing his personal finances. 289 00:19:05,400 --> 00:19:09,400 In a letter to members of his charitable foundation, Wexner 290 00:19:09,400 --> 00:19:12,920 disclosed that he had recovered some of the funds and had 291 00:19:12,920 --> 00:19:17,760 severed ties with Epstein. In 2007, around the time that 292 00:19:17,760 --> 00:19:22,560 Epstein first faced allegations in Florida, Wexner had granted 293 00:19:22,560 --> 00:19:26,600 Epstein sweeping financial authority, including power of 294 00:19:26,600 --> 00:19:31,800 attorney, over his assets. That same year, a lawsuit filed 295 00:19:31,800 --> 00:19:36,400 against Epstein's estate alleged that he had used underage women 296 00:19:36,560 --> 00:19:40,680 not only for abuse, but also as a means to ingratiate himself 297 00:19:40,800 --> 00:19:43,800 with powerful individuals so that he could gather 298 00:19:43,800 --> 00:19:46,400 compromising information for blackmail. 299 00:19:47,240 --> 00:19:51,840 These accusations suggest that a portion of Epstein's fortune may 300 00:19:51,840 --> 00:19:56,160 have been built not only on financial misconduct, but also 301 00:19:56,160 --> 00:20:00,040 on the strategic exploitation of his business associates. 302 00:20:00,880 --> 00:20:04,520 The Epstein scandal has evolved far beyond the realm of 303 00:20:04,520 --> 00:20:08,640 documented facts. Andrew Procop at Fox writes that 304 00:20:08,640 --> 00:20:12,520 it's become the mother of all conspiracy theories because it 305 00:20:12,520 --> 00:20:16,280 is something to captivate just about every political 306 00:20:16,280 --> 00:20:19,840 subculture. For some, he writes, it's a Me 307 00:20:19,840 --> 00:20:23,080 Too story of unchecked abuse by a powerful man. 308 00:20:23,240 --> 00:20:27,520 For others, a mega fuel tale of liberal elites depravity. 309 00:20:27,840 --> 00:20:31,880 The resistance sees it as a potential Trump scandal, while 310 00:20:31,880 --> 00:20:36,160 those suspicious of the deep state fixate on cover ups and 311 00:20:36,160 --> 00:20:39,240 the possible involvement of intelligence agencies. 312 00:20:39,840 --> 00:20:43,360 Anti Semites focus on Epstein's Jewish identity. 313 00:20:43,680 --> 00:20:47,680 The scandals, ambiguity, and the elite circles Epstein moved in 314 00:20:47,840 --> 00:20:51,920 have made it fertile ground for conspiracy theories of every 315 00:20:51,920 --> 00:20:55,800 ideological stripe. Mega loyalists have shown a 316 00:20:55,920 --> 00:20:59,920 remarkable ability to compartmentalize this scandal, 317 00:21:00,120 --> 00:21:04,920 obsessing over Epstein's ties to Democrats while ignoring Donald 318 00:21:04,920 --> 00:21:08,640 Trump's well documented 15 year long friendship with him. 319 00:21:09,120 --> 00:21:13,640 Trump's appointment of loyalists like Pam Bondi, Cash Patel and 320 00:21:13,640 --> 00:21:17,440 Dan Bongino to top law enforcement roles only 321 00:21:17,440 --> 00:21:21,800 intensifies the speculation. Their attempts to steer the 322 00:21:21,800 --> 00:21:25,760 narrative seem to have backfired on them, fueling outrage from 323 00:21:25,760 --> 00:21:29,320 the conservative base and internal finger pointing. 324 00:21:29,920 --> 00:21:33,120 Democrats have their own awkward history with Epstein. 325 00:21:33,400 --> 00:21:37,080 Bill Clintons post presidency friendship with Epstein, 326 00:21:37,240 --> 00:21:40,840 including multiple flights on his private jet, became a 327 00:21:40,840 --> 00:21:44,480 liability the moment the allegations first surfaced in 328 00:21:44,480 --> 00:21:47,840 the late 2000s. At the time, Hillary Clinton was 329 00:21:47,840 --> 00:21:51,920 viewed as the party's future, so there was no desire to dwell on 330 00:21:51,920 --> 00:21:55,200 the Epstein scandal. It wasn't until Trump's team 331 00:21:55,200 --> 00:21:59,200 mishandled the scandal with their awkward attempts to change 332 00:21:59,200 --> 00:22:03,560 the subject the Democrats began to engage as they could now see 333 00:22:03,560 --> 00:22:06,240 the Epstein scandal as a Trump scandal. 334 00:22:06,560 --> 00:22:10,960 It is now resulted in a frenzy of interest that Trump hasn't 335 00:22:10,960 --> 00:22:14,400 been able to escape. Among the more shadowy 336 00:22:14,400 --> 00:22:18,400 conspiracy theories is the claim that Epstein was connected to 337 00:22:18,440 --> 00:22:22,120 Israeli intelligence. These allegations gained renewed 338 00:22:22,120 --> 00:22:25,800 interest in 2023 when the formerly conservative 339 00:22:25,800 --> 00:22:30,200 commentator Tucker Carlson, who became radicalized last year 340 00:22:30,200 --> 00:22:33,720 while visiting a Russian supermarket, began publicly 341 00:22:33,720 --> 00:22:37,720 speculating about a Mossad Epstein connection during a 342 00:22:37,720 --> 00:22:41,520 speech to Turning Point USA, claiming that every single 343 00:22:41,520 --> 00:22:44,880 person in Washington, DC he believes that theory. 344 00:22:45,640 --> 00:22:49,800 The theory suggests that Epstein may have operated A blackmail 345 00:22:49,800 --> 00:22:53,880 scheme on behalf of Israeli intelligence, using underage 346 00:22:53,880 --> 00:22:56,800 women to entrap powerful individuals. 347 00:22:57,080 --> 00:23:01,280 A 2021 Rolling Stone article cited Stephen Hoffenberg, 348 00:23:01,280 --> 00:23:04,840 Epstein's former business associate and convicted Ponzi 349 00:23:04,840 --> 00:23:09,200 schemer, who claimed Epstein had ties to intelligence circles. 350 00:23:09,480 --> 00:23:13,000 While no concrete evidence has emerged to support these claims, 351 00:23:13,240 --> 00:23:17,480 their persistence underscores the vacuum of transparency that 352 00:23:17,480 --> 00:23:20,240 continues to surround Epstein's life and death. 353 00:23:20,600 --> 00:23:24,320 One of the most persistent claims about Jeffrey Epstein is 354 00:23:24,320 --> 00:23:27,560 that he secretly recorded his guests in the private rooms of 355 00:23:27,560 --> 00:23:31,000 his house. In a 2019 interview, one of his 356 00:23:31,000 --> 00:23:34,480 victims said that she had seen hidden cameras in the guest 357 00:23:34,480 --> 00:23:39,040 bedrooms and bathrooms of his Manhattan townhouse, with live 358 00:23:39,040 --> 00:23:43,040 feeds being monitored by staff in a dedicated surveillance. 359 00:23:43,800 --> 00:23:47,720 These allegations have fueled speculation that Epstein used 360 00:23:47,720 --> 00:23:52,160 surveillance footage to gather compromising material on 361 00:23:52,160 --> 00:23:56,520 powerful individuals, possibly for leverage or blackmail. 362 00:23:56,760 --> 00:24:00,400 When Trump's law enforcement appointees Pam Bondi, Cash 363 00:24:00,400 --> 00:24:04,760 Patel, and Dan Pongino announced that they were reviewing all 364 00:24:04,760 --> 00:24:08,360 available evidence, including digital files and surveillance 365 00:24:08,360 --> 00:24:12,520 footage, it briefly raised hopes that long thought answers might 366 00:24:12,520 --> 00:24:15,280 emerge. But their abrupt reversal, 367 00:24:15,440 --> 00:24:18,800 declaring that there was nothing to see, only deepen public 368 00:24:18,800 --> 00:24:22,280 suspicion and intensified theories of a cover up. 369 00:24:22,520 --> 00:24:27,040 The Epstein files are allegedly made-up of over 300 gigabytes of 370 00:24:27,040 --> 00:24:31,040 data, paper, video and photographs, and audio. 371 00:24:31,320 --> 00:24:35,680 Pam Bondi publicly stated that she was reviewing these files in 372 00:24:35,680 --> 00:24:39,720 February, just 17 days after her confirmation as Attorney 373 00:24:39,720 --> 00:24:42,600 General. That's quite a lot of video 374 00:24:42,600 --> 00:24:46,440 footage to go through, but it would appear that she did this 375 00:24:46,560 --> 00:24:49,920 as a few days ago she was supposed to speak at a summit 376 00:24:49,920 --> 00:24:54,240 against human trafficking, where unfortunately this announcement 377 00:24:54,240 --> 00:24:56,760 was made. I do have a note from the 378 00:24:56,760 --> 00:24:59,840 Attorney General from Attorney General Pam Bondi that I wanted 379 00:24:59,840 --> 00:25:02,120 to share. I'm sorry to miss all of my C 380 00:25:02,120 --> 00:25:04,880 PAC friends today. Unfortunately, I'm recovering 381 00:25:04,880 --> 00:25:07,680 from a recently torn cornea which is preventing me from 382 00:25:07,680 --> 00:25:10,800 being with you. Now, I don't know what caused 383 00:25:10,800 --> 00:25:14,120 this reported eye damage, but I feel that if I spent the last 384 00:25:14,120 --> 00:25:17,520 six months reviewing bathroom camera footage from Epstein's 385 00:25:17,520 --> 00:25:21,880 house where Trump was frequently a guest, I think I would damage 386 00:25:21,880 --> 00:25:25,440 my eyes too. Based on the horrified 387 00:25:25,440 --> 00:25:29,360 expression on Cash Patel's face, it would appear that he's been 388 00:25:29,360 --> 00:25:33,360 going through the footage too. The horrors that that man must 389 00:25:33,360 --> 00:25:41,640 have seen. For almost 20 years, beginning 390 00:25:41,640 --> 00:25:46,280 in the late 1980s, Donald Trump and Jeffrey Epstein maintained a 391 00:25:46,280 --> 00:25:48,880 close friendship. They were regulars at each 392 00:25:48,880 --> 00:25:52,600 other's homes, Epstein at Trump's Mar a Lago club and 393 00:25:52,600 --> 00:25:55,080 Trump at Epstein's Manhattan mansion. 394 00:25:55,720 --> 00:26:00,080 It's no surprise to hear that Trump's name turns up in any 395 00:26:00,080 --> 00:26:03,720 investigation of Epstein simply because they spent so much time 396 00:26:03,720 --> 00:26:06,280 together. Have you ever socialized with 397 00:26:06,280 --> 00:26:13,840 Donald Trump in the presence of females under the age of 18? 398 00:26:17,680 --> 00:26:21,120 Though I'd like to answer that question, at least today I'm 399 00:26:21,160 --> 00:26:24,840 going to have to assert my 5th, 6th, or 14th Amendment right, 400 00:26:24,840 --> 00:26:27,240 Sir. The Wall Street Journal has 401 00:26:27,240 --> 00:26:31,480 reported that Attorney General Pam Bondi warned Trump back in 402 00:26:31,480 --> 00:26:35,600 May that his name was in the files multiple times. 403 00:26:35,920 --> 00:26:38,960 But who knows? If Epstein did keep a list, 404 00:26:39,080 --> 00:26:42,960 maybe he kept multiple lists. There might be a really bad list 405 00:26:42,960 --> 00:26:46,920 filled with 1970s children's entertainers who did terrible 406 00:26:46,920 --> 00:26:49,080 things. And then maybe a list titled 407 00:26:49,320 --> 00:26:53,360 People who are Really Into Milfs with Trump and Macron's name on 408 00:26:53,360 --> 00:26:54,680 it. Who knows? 409 00:26:55,240 --> 00:26:59,880 In a 2002 interview with New York Magazine the Trump likely 410 00:26:59,880 --> 00:27:02,560 regrets today, Trump famously said. 411 00:27:02,680 --> 00:27:05,560 I've known Jeff for 15 years. Terrific guy. 412 00:27:05,680 --> 00:27:08,800 He's a lot of fun to be with. It's even said that he likes 413 00:27:08,800 --> 00:27:12,480 beautiful women as much as I do, and many of them are on the 414 00:27:12,600 --> 00:27:16,160 younger side. Epstein reportedly believed 415 00:27:16,160 --> 00:27:19,920 himself to be Trump's closest friend and claims that he 416 00:27:19,920 --> 00:27:24,400 introduced Trump to his most recent wife, according to the 417 00:27:24,400 --> 00:27:28,480 Washington Post. Their friendship soured in 2004 418 00:27:28,640 --> 00:27:33,040 / a Palm Beach real estate deal. Both men were competing to buy a 419 00:27:33,040 --> 00:27:37,120 property in Palm Beach, which Epstein wanted to live in, while 420 00:27:37,120 --> 00:27:39,680 Trump wanted to fix it up and resell it. 421 00:27:40,000 --> 00:27:43,720 Epstein at first had the upper hand as the seller liked that he 422 00:27:43,720 --> 00:27:46,760 would keep it as it was. They didn't like that Trump 423 00:27:46,760 --> 00:27:50,160 would be dazzled with gold ornaments and make it tacky like 424 00:27:50,160 --> 00:27:53,040 his other properties. According to the Washington 425 00:27:53,040 --> 00:27:57,240 Post, on the day of the auction, Epstein's attorney tried to 426 00:27:57,240 --> 00:28:01,040 disqualify Trump from bidding, telling the auctioneer that 427 00:28:01,040 --> 00:28:03,920 Trump didn't meet the requirements of a bankruptcy 428 00:28:03,920 --> 00:28:07,920 auction as he would only buy the property with title insurance, 429 00:28:08,040 --> 00:28:10,600 which this property wouldn't be sold with. 430 00:28:10,960 --> 00:28:14,480 Epstein and his lawyer, it appears, were unaware that Trump 431 00:28:14,480 --> 00:28:16,400 was listening in on speakerphone. 432 00:28:16,920 --> 00:28:20,600 Trump eventually won the auction, paying $41 million for 433 00:28:20,600 --> 00:28:23,520 the property. According to the records, Trump 434 00:28:23,520 --> 00:28:27,960 left 2 messages for Epstein later that month, and that was 435 00:28:27,960 --> 00:28:32,200 their last proven contact. Trump has since claimed, without 436 00:28:32,200 --> 00:28:35,960 providing detail or proof, that he banned Epstein from Mar a 437 00:28:35,960 --> 00:28:38,520 Lago. Epstein had never been a member 438 00:28:38,520 --> 00:28:41,240 of Mar A Lago. He had always just been there as 439 00:28:41,240 --> 00:28:45,080 a guest of Trump's. Epstein's brother Mark, on the 440 00:28:45,080 --> 00:28:48,320 other hand, has offered a different version of events. 441 00:28:48,560 --> 00:28:52,560 Mark Epstein claims that in an unaired interview conducted by 442 00:28:52,560 --> 00:28:57,480 Steve Bannon in 2019, Jeffrey Epstein said that he distanced 443 00:28:57,480 --> 00:29:01,240 himself from Trump after realizing that Trump was a 444 00:29:01,240 --> 00:29:04,120 crook. Mark Epstein allegedly viewed 445 00:29:04,120 --> 00:29:08,480 the clip online before the link to it expired, and he said that 446 00:29:08,480 --> 00:29:11,960 his brother had forwarded it to him shortly before his death. 447 00:29:12,520 --> 00:29:16,160 These conflicting accounts, Trump's vague claims of a 448 00:29:16,160 --> 00:29:20,240 falling out, and Epstein's alleged private remarks have 449 00:29:20,240 --> 00:29:23,680 only added to the intrigue and the conspiracy theories. 450 00:29:24,000 --> 00:29:28,480 Their relationship, once openly friendly, now sets at the center 451 00:29:28,480 --> 00:29:32,680 of competing narratives, each shaped by political expediency 452 00:29:32,800 --> 00:29:35,480 and the enduring mystery of Epstein's influence. 453 00:29:35,760 --> 00:29:40,960 So was Epstein a good investor? Well, his investment record, at 454 00:29:40,960 --> 00:29:45,200 least the parts that are public, reveals a mix of sharp bets, 455 00:29:45,320 --> 00:29:49,480 catastrophic losses and the occasional eyebrow raising real 456 00:29:49,480 --> 00:29:53,040 estate deal. On the losing side, Epstein 457 00:29:53,040 --> 00:29:57,080 owned Bearstern stock for decades after working there, and 458 00:29:57,080 --> 00:30:01,120 remained heavily invested in it until it collapsed in 2008, 459 00:30:01,560 --> 00:30:03,880 according to a lawsuit he later filed. 460 00:30:04,040 --> 00:30:09,400 He held around 176,000 shares worth nearly $18 million in 461 00:30:09,400 --> 00:30:15,240 August 2007. He sold 56,000 shares at $101.00 462 00:30:15,240 --> 00:30:20,240 in 2007, but as the firm collapsed in March 2008, he 463 00:30:20,240 --> 00:30:25,800 offloaded the remaining 120,000 shares in a fire sale, 20,000 at 464 00:30:25,800 --> 00:30:32,360 $35 and the rest at just $3.04. He lost even greater sum of $50 465 00:30:32,360 --> 00:30:36,280 million in one of Bear's funds that invested in credit 466 00:30:36,280 --> 00:30:41,120 derivatives and collapsed in 2007, marking the start of the 467 00:30:41,120 --> 00:30:45,000 global financial crisis. Then there's the curious case of 468 00:30:45,000 --> 00:30:47,080 the Manhattan real estate discount. 469 00:30:47,320 --> 00:30:51,920 In 2011, Epstein sold a property adjacent to his infamous 470 00:30:51,920 --> 00:30:57,200 townhouse to Cantor Fitzgerald CEO Howard Lutnick at a 65% 471 00:30:57,200 --> 00:31:00,840 discount to what he had paid for it just two years earlier. 472 00:31:01,080 --> 00:31:05,280 This is especially surprising as New York real estate prices rose 473 00:31:05,280 --> 00:31:10,160 6% over that holding period. Lutnick famously held a 474 00:31:10,160 --> 00:31:14,400 fundraiser for Hillary Clinton at that home in 2015 when she 475 00:31:14,400 --> 00:31:16,280 was running against Donald Trump. 476 00:31:17,080 --> 00:31:20,280 While Lutnick denies any personal relationship with 477 00:31:20,280 --> 00:31:23,280 Epstein, the deal has prompted speculation. 478 00:31:23,480 --> 00:31:26,920 After all, it's not every day that someone picks up prime 479 00:31:26,920 --> 00:31:30,240 Manhattan real estate at clearance sale prices. 480 00:31:31,320 --> 00:31:34,760 On the winning side of the Ledger, Epstein made a lucrative 481 00:31:34,760 --> 00:31:39,480 investment in Valar Ventures, a fund Co founded by Peter Thiel. 482 00:31:39,800 --> 00:31:43,800 The fund, which focuses on early stage financial companies, has 483 00:31:43,800 --> 00:31:48,800 returned an average of 15 1/2% per year over the last decade. 484 00:31:49,480 --> 00:31:54,120 Epstein stake, acquired around 2015 or 2016, has since grown to 485 00:31:54,120 --> 00:31:58,880 be worth around $170 million, making it the largest remaining 486 00:31:58,880 --> 00:32:02,320 asset in his estate. The investment had not been 487 00:32:02,320 --> 00:32:06,080 publicly disclosed until recently, adding yet another 488 00:32:06,080 --> 00:32:08,920 layer of mystery to Epstein's financial dealings. 489 00:32:09,280 --> 00:32:11,480 So where did all of the money go? 490 00:32:11,800 --> 00:32:15,800 Well, just two days before his death, Jeffrey Epstein signed a 491 00:32:15,800 --> 00:32:20,360 document transferring all of his assets into a private entity 492 00:32:20,520 --> 00:32:25,800 known as the 1953 Trust, named presumably after the year of his 493 00:32:25,800 --> 00:32:28,840 birth. This move ensured that the 494 00:32:28,840 --> 00:32:32,360 identities of his beneficiaries and the distribution of his 495 00:32:32,360 --> 00:32:35,240 wealth would remain shielded from public view. 496 00:32:35,480 --> 00:32:39,120 For Epstein's victims, it created a legal labyrinth. 497 00:32:39,400 --> 00:32:43,160 Accessing financial disclosures required court approval. 498 00:32:43,880 --> 00:32:47,760 Over time, the trust absorbed everything properties, cash, 499 00:32:47,760 --> 00:32:53,040 investments and valuables. More than $164 million has since 500 00:32:53,040 --> 00:32:57,560 been paid out to victims through a compensation fund financed in 501 00:32:57,560 --> 00:33:00,760 part by the sale of Epstein's properties, including the 502 00:33:00,760 --> 00:33:04,320 islands, the Manhattan townhouse and his plane. 503 00:33:04,640 --> 00:33:07,920 But those settlements all came with strings attached. 504 00:33:08,120 --> 00:33:12,120 Recipients were required to sign broad releases waiving their 505 00:33:12,120 --> 00:33:15,240 right to bring future claims against against the estate or 506 00:33:15,400 --> 00:33:19,800 individuals connected to it. The remaining assets, estimated 507 00:33:19,800 --> 00:33:24,440 to exceed $200 million, are likely to benefit a much smaller 508 00:33:24,440 --> 00:33:27,720 circle. The only known beneficiaries of 509 00:33:27,720 --> 00:33:31,280 the trust are a former girlfriend of Epstein's and two 510 00:33:31,280 --> 00:33:35,760 of his long time advisors who also serve as Co executors of 511 00:33:35,760 --> 00:33:38,400 the estate. According to a confidential 512 00:33:38,400 --> 00:33:42,080 financial document reviewed by The New York Times, Epstein 513 00:33:42,080 --> 00:33:47,120 intended for $19,000,000 in personal loans that he had made 514 00:33:47,160 --> 00:33:51,600 to be forgiven, including loans to entities closely associated 515 00:33:51,600 --> 00:33:53,600 with the beneficiaries of his trust. 516 00:33:54,160 --> 00:33:57,560 The value of the estate has fluctuated over the years. 517 00:33:57,720 --> 00:34:01,120 At one point, an executor predicted that it would shrink 518 00:34:01,120 --> 00:34:04,360 to under $40 million after claims were paid out. 519 00:34:04,600 --> 00:34:11,120 But a $111.6 million tax refund from the IRS in late 2024 520 00:34:11,280 --> 00:34:13,199 dramatically changed the picture. 521 00:34:13,440 --> 00:34:17,199 I guess maybe Epstein was better with taxes than I had talked. 522 00:34:17,880 --> 00:34:21,440 As of March this year, the estate reported assets of 523 00:34:21,440 --> 00:34:26,159 $131,000,000, including $50 million in cash. 524 00:34:26,560 --> 00:34:30,000 This figure, however, doesn't reflect the current value of 525 00:34:30,000 --> 00:34:34,000 Epstein's investment in Peter Thiel's fintech fund, which is 526 00:34:34,000 --> 00:34:38,159 being recorded at its cost basis and remains locked up due to 527 00:34:38,159 --> 00:34:42,199 venture capital restrictions. That investment alone is 528 00:34:42,199 --> 00:34:46,639 estimated to be worth $170 million, making it the estate's 529 00:34:46,639 --> 00:34:51,080 largest remaining asset. One major federal civil lawsuit 530 00:34:51,080 --> 00:34:54,760 against the estate remains pending, filed on behalf of 531 00:34:54,760 --> 00:34:57,800 victims who haven't yet settled with the estate. 532 00:34:58,440 --> 00:35:02,400 Once resolved, any remaining funds will be distributed 533 00:35:02,400 --> 00:35:05,960 according to the terms of Epstein's will, terms that 534 00:35:05,960 --> 00:35:09,240 remain sealed within the 1953 trust. 535 00:35:10,080 --> 00:35:14,000 The true source of Jeffrey Epstein's Weld is a shrouded in 536 00:35:14,000 --> 00:35:16,560 secrecy and death, as it was in life. 537 00:35:16,920 --> 00:35:21,360 Despite years of investigations, lawsuits, and media scrutiny, 538 00:35:21,560 --> 00:35:25,040 the financial machinery that powered his lifestyle remains 539 00:35:25,040 --> 00:35:28,800 largely unaccounted for, hidden behind legal agreements, 540 00:35:28,920 --> 00:35:32,600 secretive trusts, and a network of powerful associates. 541 00:35:33,160 --> 00:35:36,840 The recent rumors that Donald Trump might even pardon Jelaine 542 00:35:36,840 --> 00:35:41,280 Maxwell have only added fuel to the fire, suggesting that the 543 00:35:41,280 --> 00:35:45,320 scandal surrounding Jeffrey Epstein are far from exhausted. 544 00:35:45,600 --> 00:35:49,720 With key figures still staying silent, documents still sealed, 545 00:35:49,880 --> 00:35:54,040 and new headlines emerging every day, the conspiracy theories 546 00:35:54,040 --> 00:35:57,440 surrounding Jeffrey Epstein are unlikely to fade. 547 00:35:57,600 --> 00:36:01,160 If anything, they've likely become a permanent feature of 548 00:36:01,160 --> 00:36:05,080 the overall scandal, filling in the void left by unanswered 549 00:36:05,080 --> 00:36:07,600 questions and institutional failures. 550 00:36:08,000 --> 00:36:10,320 Thanks for tuning into this week's podcast. 551 00:36:10,480 --> 00:36:13,440 If you found it interesting, please forward a link to a 552 00:36:13,440 --> 00:36:17,680 friend to help the podcast grow. Special thanks to my supporters 553 00:36:17,680 --> 00:36:20,680 on Patreon. Your support is what makes this 554 00:36:20,680 --> 00:36:23,880 podcast possible. Have a great day and talk to you 555 00:36:23,880 --> 00:36:25,160 again soon. Bye.