Nygard is convinced that Bacon orchestrated all his problems with Lyford Cay and the government. He also owns a grouse moor in Scotland and a hunting lodge in the North of England. And more! 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 is the founder of Moore Capital Management, one of the leading investment firms in the trading industry. Getting younger., More than anything, Nygard is proud of his concrete sanctuary, which in 1992 he persuaded the Bahamian government to rename Nygard Cay to coincide with a Lifestyles of the Rich and Famous segment. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. 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. 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. He uses the yacht as an office. Nygard doesnt deny his participation in the campaign. [3], In December 2013, Bacon purchased Taos Ski Valley from the Blake family, who had owned it since 1954. Hes gone to a black nation that has pretty decent race relations and tried to stir up this racial thing by staging a Klan rally. Nygard says his involvement in the Klan accusations stemmed from a grassroots movement in which locals came to me and asked for my help.. 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. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). Today, Robins Island provides a safe haven for threatened local shorebirds, including terns, piping plovers, sandpipers and oystercatchers. He sued a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. Louis Bacon, founder of The Moore Bahamas Foundation, an affiliate of The Moore Charitable Foundation (MCF), pledged $1m for a combination of short-term and long-term hurricane relief and reconstruction following the devastation caused by Hurricane Dorian. These things cant go unanswered. All rights reserved. guests over, including royalty from around the world., Yet, Laughlin says, When somebody comes in whos of a different character and doesnt make much of an effort to assimilate, some communities are better able to deal with that than others. I lost that recipe. There is a formal process to get into Lyford, says Chris Brady, a lifelong member. Legendary trader Louis Bacon told his investors on Thursday that he would be closing his big multi-manager hedge funds, another signal of the increasing difficulty traders are having making. The former was founded in 1989, and the latter in 1990. Louis Moore Bacon is a hedge fund manager and philanthropist. It is now a security booth and staff office for his estate. [26], In 1992, Bacon created The Moore Charitable Foundation (MCF) to provide financial support to nonprofit organizations that work to preserve and protect wildlife habitat and improve water systems. 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. [36] In 2016, Bacon received a Theodore Roosevelt Conservation Partnership's Lifetime Conservation Achievement Award for authorizing conservation easements on more than 210,600 acres in the US. They searched the house for guns; there werent any, Ian Levy, Bacons property manager, says. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. An aerial view of the western tip of New Providence, 2014. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. But depending on whats out there in terms of infrastructure, it might be worth from $200 million to $500 million.. Jones and brother Zack, who deployed landed at Soros Fund Management as head trader, threw plenty of business Bacon's way. 10 He resides in Lyford Cay in the Bahamas. [37], American hedge fund manager and billionaire, Litigation involving the Wikimedia Foundation Outcomes in favor of the plaintiffs, "Billionaire Louis Bacon battles to protect his ranch from big utilities' solar-power plans", "Louis Bacon Tries to Turn Around Taos Ski Valley", "The 5 Stocks Billionaire Louis Bacon Can't Stop Buying", "US billionaire wins high court order over Wikipedia 'defamation', "U.S. Law Protects Anonymous Speech, Not Billionaires", "Peter Nygard files RICO suit against billionaire Bahamas neighbour", "Meet cash king Louis Bacon: the richest hedge fund manager in London", "Weddings and celebrations - Gabrielle Sacconaghi, Louis Bacon", "Conservationist buys state's biggest ranch", "Tory donor funds British marine reserve", "Million-Dollar Donors in the 2016 Presidential Race", "Board of Overseers: About: Louis Bacon '81", "Non profit news and comments - "Donor of the Day: Helping Protect the Hudson River." He is best known perhaps for his mansion at the exclusive gated community of Lyford Cay in the Bahamas, where he had a vicious, long running and very public feud with neighbor and disgraced fashion mogul Peter Nygrd. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. Bacons hedge fund is name-checked, too: MOORE CAPITAL MANAGEMENT. [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. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . 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. Nygard designed and constructed the compound himself over more than two decades. Then a sex scandal rocked his marriage and ended his lucrative stewardship of the evangelical education empire founded by his father. Hedge fund giant Louis Bacon was honored for his land conservation at the star-studded National Audubon Society's gala dinner in New York. Started in 1992, the Foundation supports conservation non-profits that ensure the preservation of land, water and wildlife habitats for future generations. (The queen was Noor of Jordan.) Member firm Edgerly & Crocker since 1900; also of Central Aguirre Sugar Co. Republican. He sued Bacon over the re-grading project that had created the puddle in the driveway three years earlier and demanded that his neighbor install a security gate where the driveway crosses the property line. (He bought the entire 445-acre island in 1993 for $11 million.) How Much Is Louis Bacon Worth Those disputes allowed Bacon to swoop in to buy Robins Island on the cheap. 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. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. 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. Elena Ambrosiadou, founder of hedge fund, Ikos, owns one of the most luxurious super yachts ever made. Best Restaurants in Fort Lauderdale 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. [2] Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. 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. Bacon arrived next door at Point House in 1994. He is obsessed with longevity. 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. Around the same time in 1989, Wickhams descendants sued to regain control of the island, which they claimed had been stolen from their family. His first major conservation purchase occurred in 1993, when he bought Robins Island, a 434-acre, mostly undeveloped property in the Great Peconic Bay off Long Island. A battle between hedge-fund billionaire Louis Bacon and a Canadian clothing magnate spills into New York court. [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. One of Wall Street's macro-trading legends, Louis Bacon cut his teeth as a commodities and currencies trader, earning big profits in the 1987 crash. Thats totally true, said Cutchogue resident Tonya Witczak, 46. (Bacon has said he made no such offer and was never interested in acquiring Nygards land. The pair live in the Clifton Bay area of the Bahamas. Reclusive billionaire Louis Moore Bacon is emerging from the shadows in a southern Colorado showdown over solar-power transmission lines. 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. Years earlier, Nygard had obtained a government permit to redirect the sand. Now, a nearly decades long-feud between neighboring billionaires, Peter Nygard, a Canadian-born fashion baron, and Louis Bacon, a New York financier, has thrust the notoriously press-shy. 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. Bacon, who founded Moore Capital in 1989 with a $25,000 inheritance. 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. He threw a lot of parties and was always doing construction. He took steps to sue the Lyford Cay Property Owners Association. Louis Moore Bacon married Gabrielle de Heinrich Sacconaghi in Manhattan in 2007, five years after his divorce from his first wife Cynthia Pigott. 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. Hedge fund billionaire Louis Bacon's gardener is found in the buff and in the Jacuzziand also dead. 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. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. That mystery owner is 64-year-old billionaire financier Louis Bacon, who purchased Robins Island in bankruptcy court in 1993 for a mere $11 million. But no. 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. 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. [1], Bacon was born in Raleigh, North Carolina on July 25, 1956. In 1962, when President Kennedy flew to Nassau for a series of private world-ranging talks with the British prime minister Harold Macmillan, he stayed at Taylors house and the P.M. stayed next door. His response isnt emotional, Ian Levy says. Former Interior Secretary Ken Salazar and conservation philanthropist Louis Bacon say super fires should not be the new normal. That was settled two years ago, a rare moment of dtente that could have opened the way to broader peace talks. In January 2015, he leveled a $100 million defamation complaint against Nygard in New York, where both mens businesses are headquartered. 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 gives you a certain sense of purpose that, I guess, girds you to continue. He is the founder and chief executive of Moore Capital Management. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. How exactly did the alleged illegal activity go down? Instead, everybody stays up until three A.M. playing poker. Nygard says he plans to appeal. It may be that the only thing Bacon and Nygard have in common, besides a Lyford Cay address, is their joint refusal to ever back down. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. Meanwhile, Lyford residents and the L.C.P.O.A. [14], In early 2019, it was reported that Peter Nygrd had filed a complaint with the U.S. Federal Court in Manhattan alleging that Bacon had violated sections of the Racketeer Influenced and Corrupt Organizations Act. The pool and gazebo at Nygards six-acre estate. They managed an agreement (via their groundskeepers) on choices of island ficus and bougainvillea to plant along the easement. I used to see him out there in his front loader.) Even with the main house at Nygard Cay mostly in ruins six years after the firethe grand staircase that ran through it is now more of an open-air gangwaytheres still plenty to marvel at: carved dragons, 60-foot ziggurats with hundreds of torches lit individually every night by his staff, giant statues of nude women modeled on his former girlfriends, and what he claims is the worlds largest sauna, a 6,000-square-foot A-frame lodge constructed of Canadian-pine logs that are 2 feet thick and 28 feet long. He is famous in the Bahamas. Louis Bacon Uses Chevron's Tool To Fight Neighbor And Clothing Magnate Peter Nygard, With His New PAC, Louis Bacon Becomes Latest Hedge Funder To Get Politically Active, Colorado Hedge Fund Billionaire Louis Bacon Buys Taos, New Mexico, Ski Resort, Audubon Society Gala Honors Louis Bacon, Bette Midler Sings Birdie Tunes, Louis Bacon Loves Birds, Bette Midler Can't Remember, And Other Scenes From The Audubon Gala At The Plaza Hotel, Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West, Billionaire Hedge Fund Manager Returns $2B To Investors, Blames Merkel, Hedge Fund Billionaire Louis Bacon To Donate 90,000 Acres For Colorado Conservation Area, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. [21], In 2002 Bacon obtained Austrian citizenship, due to a special provision for figures who have made notable achievements for Austria. Lyford Cay was designed as a gated winter community, the brainchild of the aforementioned E. P. Taylor and Sir Harold Christie, a scion of the Bahamian family that owned the original 3,000-acre plot at the western tip of New Providence. I helped to save his life, Nygard says of the time Bacon and his property manager got marooned during a fishing expedition. Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist. (To give Nygard credit, hes industrious, Bacon concedes. This was my dream, my life wrapped up in here. But tonight hes still having fun. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). From college to career, Bacon founded Moore Capital Management and The Moore Charitable Foundation, making smart investments in financial markets and the environment. It would mean returning all that sand to the Bahamas rightful seabed, shrinking his property back down to its original dimensions. [23] Bacon also served as a fundraiser for American politician Mitt Romney, who was elected governor of Massachusetts and later ran for president. [27] Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper. At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. Peter Nygard is a force for good.. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. What it did to his side I wasnt really interested in.. Bahamian environmentalists employed by Save the Bays, an organization that Bacon and several other Lyford residents would later set up chiefly to combat Nygard, cite significant damage to the coastline84,000 square meters of the seafloor that Nygards dredging gambit destroyed, according to one study. Bacon's environmental preservation-focused Moore Charitable Trust was defrauded out of $25 million by jailed banker Andy Caspersen. Bacon sought the order so that he could launch defamation proceedings against online commenters he alleged to have posted libelous material about him on these websites. He probably enjoys this, Bacon says. 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. Bacon responded by suing Nygard and obtaining a court injunction to remove it. Then, in October, the judge dismissed Nygards counterclaim against Bacon, writing that it constituted merely an attempt at retaliation, which is prohibited by the courts. All Rights Reserved. Photo by Charles Eshelman/FilmMagic/Getty Images. Prior to founding Moore Capital, Mr. Bacon was a Senior Vice President-Futures at Shearson Lehman Brothers Inc. Ad Choices. Mr. Bacon is also the Chairman of The Moore Charitable . His personal wealth is estimated to be over $1.5 Billion and his hedge fund Moore Capital Management has AUM close to $15 Billion. In the early days, my dad would sit at the little kitchen counter in the window and do his designs on napkins, says his eldest daughter, Bianca, who works for the Nygard corporation. Last night, the famously private hedge fund tycoon Louis Bacon, let down his guard about loving the land. Forbes magazine named Louis Bacon as the 746th . [12][13], Legal experts did not believe the order was enforceable in the United States because of its policy related to freedom of speech. People were worried about the security of our investors information.. 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. Chesapeake Bay Foundation Chairman Harry Lester and philanthropist Louis Bacon say offshore drilling in the Atlantic and related seismic airgun blasting could harm East Coast economies, marine life and our environment. Aestheticallyshirt unbuttoned to the navel, tight black jeans, and some sort of glitter he applies to his suntanned arms after showeringhe brings to mind a mash-up of Sam Walton and Gunther Gebel-Williams, the circus-animal trainer. 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. Linney acted alongside Kevin Bacon in Clint Eastwood-directed Mystic River ( 2003). On another is Bacons face with the word CRIMINAL stamped over his forehead. There was also the matter of sand. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. [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. [7] In 2010, the Denver Post reported that Bacon's net worth of $1.6 billion ranked him as the 238th richest American. 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. He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. But Bacon, they insist, has never lost his cool. [25], In 1991, Bacon was 20th on the list of Financial World's Top 100 Wall Street Earners list. The Moore Charitable Foundation, which primarily works in land and wildlife conservation, claim it lost $16 million in Andrew Caspersens fraudulent scheme and are demanding PJT Partners pay it back plus interest. (Bradys father, Nicholas Brady, was secretary of the Treasury under President George H. W. 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. Does Peter like the fact that his beach got bigger? Many from Lyford Cay would celebrate their weddings, anniversaries, and other special events at Nygard Cay, or bring their V.I.P. The court granted Bacon's application to serve a Norwich Pharmacal Order by email against these websites. In February 2007, the pair married in a civil ceremony in his Manhattan residence. Nygard has filed multiple lawsuits, and the CBC has removed the piece from the Internet. Satellite images reveal two large estate homes on the island, what appears to be a caretakers home, a tennis court, a dock and thick woodlands. Hes also mortified to have his public identity joined with his antagonists. Listen, Lyford Cay is not St. Tropez., Nygards supporters say his parties do stand out, because theyre full of people who wouldnt otherwise be in Lyford Cay. Smith, who organized a parade where many participants wore K.K.K. He ignored Bacons offer and soon hit him with another lawsuit, and the Internet campaign against him was launched. Moore Capital still manages internal money and scored 70% returns in 2020 for Bacon and his employees. 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. [22], Bacon contributed 500,000 to Britain's Conservative Party between 2010 and 2016. Many have been asked to accomplish the task while playing "Six Degrees Of Kevin Bacon," [], Master of Business Administration, Columbia Business School; Bachelor of Arts/Science, Middlebury College. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. [2][4][6], In 1987 Bacon founded Remington Trading Partners. 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. He adds that all the land hes been mandated to return to the Bahamas had been unofficially leased to him. I have my own life, you know? Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. I would tell him what happened, and he said, Take photographs and refer it to the legal department. He responds to Peter Nygard as a problem that needs to be taken care of., Until he filed his defamation suit, this year, Bacon fought Nygard mostly under the auspices of an environmental campaign, joined by many Lyford residents, that sought to rectify changes to the coastline they claim Nygard is responsible for. Nygard was dredging, moving inordinate quantities of sand to increase the size of his property, says Fred Smith, one of Bacons lawyers. He previously held positions at Walter N. Frank & Co., a NYSE specialist firm, and at Bankers Trust. Transmission lines in 1993 for $ 11 million. Raleigh, North Carolina July. Founded Moore Capital still manages internal money and scored 70 % returns in 2020 for Bacon and a clothing! Bankers Trust door at Point house in 1994, both the Sag Harbor harbormaster a. The Chairman of the leading investment firms in the buff and in the Bahamas 100 Wall Street list., sandpipers and oystercatchers name-checked, too: Moore Capital, mr. is. 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