Jeffrey Epstein’s net worth increases after his death: Inside the sale of his home
It appears as though Jeffrey Epstein is raising his net worth from the grave. Per The Independent, Jeffrey Epstein’s $51 million New York mansion has been sold nearly two years after his death. However, Epstein’s estate isn’t adding the purchase to their coffers. Rather, they’re doling out the proceeds from the mansion sale straight to Epstein’s victims.
Of all of Jeffrey Epstein’s homes, this New York estate was reportedly the most expensive. Epstein also owned a ranch in New Mexico and an infamous private island & jet plane, significantly contributing to his multimillion-dollar net worth while he was alive. Epstein’s victims came forward and alleged abuse on the island, the jet, and the New York mansion that was just sold.
Let’s take a closer look at the sale of Jeffrey Epstein’s mansion and how it will affect his posthumous net worth.
Dry net worth
The Independent reported that Jordy Feldman, the Jeffrey Epstein compensation fund’s administrator, stated that payouts to Epstein’s victims had stalled because the fund ran dry. In a statement to CNN, Feldman divulged the sale could allow payments to continue in the near future.
“Once we have more information about the amount of funds that will be made available to the Program and when, I will decide when we can lift the suspension and get back to full Program operations”, she clarified.
Before Jeffrey Epstein’s death, his net worth was estimated to be over half a billion dollars. The estimated $577 to $655 million net worth included cash, stocks, liquid assets, and of course, his property – Epstein’s property was estimated to be worth nearly $200 million altogether. Bringing us to the question: with all that dough, how come payments to victims have reportedly stopped?
The reported holdup
Multiple women have come forward to claim they were abused by Jeffrey Epstein. Among these women were Virginia Roberts-Giuffre, who detailed how Jeffrey Epstein recruited underage girls to sexually abuse them on his various properties, most notoriously on his island, Little St. James.
As a result of the reported crimes against minors in the U.S. Virgin Islands, the islands’ attorney general Denise George froze Epstein’s assets pending a civil case. She further accused Epstein’s lawyers and managers of his estate, Darren Indyke & Richard Kahn, of being co-conspirators of Epstein’s crimes. Epstein’s lawyers accepted the motion, stating they were confident the suit would be swiftly dismissed per The Independent.
“The proposed claims are part of the Government’s concerted effort to frustrate the Co-Executors’ ongoing orderly administration of the Epstein Estate, which recent efforts include not only this Motion, but also the Government’s baseless emergency motion in the Probate Court to freeze all Estate assets”, Kroblin wrote in a motion obtained by the Miami Herald.
In October 2020, lawyers from Jeffrey Epstein’s estate claimed his bank account, having dwindled to $240,000, was “unable to meet its imminent financial obligations”. They further elaborated that they were unable to make payouts because their assets in the U.S. Virgin Islands were frozen pending an investigation.
Kroblin further claimed that if the assets remained frozen on Little St. James, they would no longer be able to maintain the properties, leading to a shrinking net worth for Jeffrey Epstein’s estate. “The residential properties will quickly deteriorate, the aircraft and other assets will fall into disrepair, its assets will remain unsold, and legal proceedings will be defaulted”, Kroblin elaborated.
Victims compensation fund
According to previous reports, the compensation fund for Jeffrey Epstein’s victims could pay out a total of $630 million. The fund was established by Jordana Feldman who previously founded a compensation fund for victims of the 9/11 terrorist attacks and their families.
It was estimated that over seventy victims would apply and receive an average of $8 million each. However, if Jeffrey Epstein’s victims applied for the fund, they, in turn, reportedly waived their rights to sue Jeffrey Epstein’s estate. Allegedly, one of the plaintiffs was also Ghislaine Maxwell.
Maxwell maintains her innocence, but has been accused by multiple victims of Epstein of being his “madam-in-chief”. She’s being held without bond until her trial this summer. She reportedly sued the estate for legal & security fees.