[17], In 1986 Bacon married Cynthia Pigott,[4] a former Newsweek magazine staff member. He is obsessed with longevity. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. 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. Its quiet money, says David Laughlin, a New York financier (second-generation Lyford) and chairman of the Lyford Cay Club. He probably enjoys this, Bacon says. This easement will provide the founding tract for the proposed new Sangre de Cristo Conservation Area. The 171,400-acre (694km2) property sold for $175 million. And were talking about a land of eight-figure beachfront properties, where the houses are very close to each otherwhere one mans dining room is only about 200 feet from the others revolving acrylic discotheque floor and the glass walls that enclose it with a steady cascade of water. we used to be friendswhat happened? The owner just wont let you over there to search for it.. home while in talks to sign with Cowboys, Conor Kennedy gifts pal Andrew Warren rare Dior purse at Miami bash, The pained life of Riley Keough, Lisa Marie Presleys actress daughter, Penelope Disick rates brother Masons epic sneaker collection: Going to steal, Kitten born with same 'Zorro' mask as her father, Lisa Marie Presley's grave prepped at Graceland across from Elvis', I went to McDonalds drive-thru for lunch but left with bags of cash instead. But the very fact that area brokers, who make it their business to know the ins and outs of the Hamptons best estates, are foggy on its structures and amenities illustrates just how thick the veil of mystery is surrounding Robins Island. 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. 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. He started casing the joint, looking at it as a place to buy, and did nothing. [18][19], In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family. Peter Nygard is a hard-partying retail tycoon, whose estate is fit for a Mayan emperor. People were worried about the security of our investors information.. 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 was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). HMCo #583s Gamecock [Game Cock]. Forbes once summed up his investment strategy as secretive, risk-conscious, a bit paranoid. If, on a lark, he were persuaded to read for a movie part calling for a handsome Wall Street kingpin type, hed probably be turned down because the fit seems too perfect to be credible: sculpted mandible, enviably tousled locks. They did of course warn me about my neighbor, but thats probably why the price was right, Bacon says. But not all of Bacons land deals work out quite so well. But no. Oceana CEO Andrew Sharpless and Louis Bacon say that Congress needs to approve The Shark Fin Sales Elimination Act to completely ban the trade of shark fins in the United States. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP ("Moore Capital"). 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. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . Bacon responded by suing Nygard and obtaining a court injunction to remove it. It would mean returning all that sand to the Bahamas rightful seabed, shrinking his property back down to its original dimensions. 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. He sued a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. Nygard is convinced that Bacon orchestrated all his problems with Lyford Cay and the government. 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. Member firm Edgerly & Crocker since 1900; also of Central Aguirre Sugar Co. Republican. 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. But depending on whats out there in terms of infrastructure, it might be worth from $200 million to $500 million.. He always said he would never be done., Nygard initially joined the Lyford Cay Property Owners Association (L.C.P.O.A. The policemen didnt wear nametags. Bacon was mortified and says the chief of police told him that the sergeant in charge of the raid had acted without authorization and that Nygard had put him up to it. Nygard says that he and his guests had merely called the police because, that week, they were exposed to intolerable screeching from Bacons speakers. [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. For better or worse, says Bill Hunter, a former Lyford Cay Club chairman, when you look toward Nygards place at night from across the bay, its like a cruise ship, all the lights and torches blazing. For comparison, a 42-acre compound, less than one-tenth the size of Robins Island, with far less waterfront, sold in Southampton this spring for close to $145 million. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. They featured unsubstantiated assertions that Bacon ran an international drug-smuggling operation, was a member of the K.K.K., had been charged in one of the biggest Wall Street insider trading cases ever (a CBS News clip on Raj Guptas infamous case had been altered, with Bacons name spliced in to replace Guptas), and was involved in murdering the Point House caretaker, Dan Tuckfield (who had died of a heart attack in the estates hot tub), after commissioning him to set the fire at Nygard Cay. Moore Capital Investments didn't perform so well this year, and the major investment return was coupled with the "big cut" in the investment firm. Sandwiched midway between the North and South forks, Robins Island is roughly 435 acres with miles and miles of waterfront. But its almost criminal for him to even be mentioned in the same paragraph as Peter Nygard.. This metric is just one way to look at short data, but this is a metric we here at Holdings Channel find particularly useful [], Updated with extended comment from Peter Nygard's spokesperson. Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist. 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. He uses the yacht as an office. They divorced in 2002, after having four children together. 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. The world desperately needs leaders with the courage, drive and political skills to fight climate change and help restore the natural world. Bacon took a job on the floor of the New York Cotton Exchange, working as a "runner". There was also the matter of sand. While neither the notoriously press-shy Bacon nor his philanthropic Moore Charitable Foundation would comment to The Post, a spokesman did make clear that regular hunting parties and celebrity sightings on Robins Island were no more than idle gossip.The official word about Buffett, for instance, is that no one knows anything about the king of the Parrotheads ever dropping by for a friendly visit. All rights reserved. Of course he does. How Much Is Louis Bacon Worth 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. Thats kind of funny when you think about it, particularly since his name is Bacon.. 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. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. Nygard misses the life he had in Lyford before Baconwhom he refers to as my nice neighborbegan to get in the way. Louis Bacon, 62, has accused neighbor Peter Nygard, 72, of hiring two hit men to kill him Bacon and his conservation nonprofit have been trying to block Nygard's attempts to expand his 150,000 sq . 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. 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. Im one of them., So was the first President Bush, who struck up a friendship with Nygard after Nicholas Brady took him to Nygard Cay once to marvel at the place. We went and got a special barge, huge undertaking, he says of importing them, adding that it was the first building he erected. Although I do not think it is right you should be the one buying it as you are the reason I am selling, so be it.. Louis doesnt like attention in the first place, says his college friend and Lyford neighbor, Chris Brady. Nygard, the suit alleges, has been the ringleader behind a vast multi-media smear campaignTV and radio ads purchased, Web sites created, videos doctored, T-shirts printed, and even hate rallies staged with parades through Nassauall in the name of labeling Bacon a racist, a thief, and a terrorist, and bearing messages such as BACON GO HOME. Bacon famously donated a conservation easement of more than 500 acres in Cow Neck to Peconic Land Trust in 2001, according to The New York Times . Jerry Falwell Jr. was the Trump-anointing dark prince of the Christian right. The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. How exactly did the alleged illegal activity go down? The pair live in the Clifton Bay area of the Bahamas. 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. Around the same time in 1989, Wickhams descendants sued to regain control of the island, which they claimed had been stolen from their family. 8 His latest yacht has an indoor paddle tennis court. Nygard designed and constructed the compound himself over more than two decades. It just tore a heart out of me, Nygard says. Nygard says the accretion to his acreage was brought about by a severe change in ocean currents in the 1990s, and points to a study he commissioned that concluded his dredging had little impact on the coastline. Louis Bacon took a bold step that bewildered and shocked many in the world of finance when he announced two months ago that he would be returning $2 billion to investors. Left, by Phil Roach/Globe Photos/Zuma Press/Alamy; Right, by Yann Dandois. Im into a lot of other kind of design, the New York designits more techy, he says. I will save something on the brokers commission and you are the most interested party. [21], In 2002 Bacon obtained Austrian citizenship, due to a special provision for figures who have made notable achievements for Austria. Nygard and one of the outsize lion heads at Nygard Cay, 2015. He ignored Bacons offer and soon hit him with another lawsuit, and the Internet campaign against him was launched. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. 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. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). According to the Moore Charitable Foundations website, the conservation philanthropist has protected more than 214,000 acres of land in perpetuity across the United States, including granting conservation easements in his home state of North Carolina (to protect the Cape Fear river watershed), Wyoming and Colorado. Mar 30, 2011, 6:48 AM. ), even though his lots location at the tip of the peninsula meant that it was not deeded within the L.C.P.O.A. It was Bacon's second marriage. Every Finn starts with the saunas.. He is the founder of Moore Capital Management, one of the leading investment firms in the trading industry. I was part of his search committee. Bacon relates the same incident, though he says that Nygard was most ungallant. [3], In December 2013, Bacon purchased Taos Ski Valley from the Blake family, who had owned it since 1954. He adds that all the land hes been mandated to return to the Bahamas had been unofficially leased to him. He threw a lot of parties and was always doing construction. It gives you a certain sense of purpose that, I guess, girds you to continue. When you join or go into somebody elses house or the land, you need to obey their own rules; you need to conform to whatever their standards are, Nygard says. 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. The international conservation organization celebrates Louis Bacons commitment to forest health across the United States. [5], In 2007, he married Gabrielle Sacconaghi in Manhattan. 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. The court granted Bacon's application to serve a Norwich Pharmacal Order by email against these websites. (To give Nygard credit, hes industrious, Bacon concedes. I had some of my boats out there. Nygard insists that his place was the Eighth Wonder of the World until Bacon ruined it. Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. In the late 1980s, Suffolk County nearly purchased it to help preserve the land which was one of the last largely undeveloped areas on the East End but politics got in the way of a deal. In this world, you dont disclose a lot, says Ian Levy, who, with his wife, Charlotte, manages the household staff of seven (more when the Bacons are there). 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. As of February 2017, Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400. He has seven children, four with his first wife and three with his current wife. They managed an agreement (via their groundskeepers) on choices of island ficus and bougainvillea to plant along the easement. This is not a man you just phone up to tell him that a leafs fallen off a tree. [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." It was smelly. [12][13], Legal experts did not believe the order was enforceable in the United States because of its policy related to freedom of speech. 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. 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. The whole thing began over a puddle in a driveway. Former Interior Secretary Ken Salazar and conservation philanthropist Louis Bacon say super fires should not be the new normal. 2023 Cond Nast. one goal in mind--to make it America's next great downhill mecca. Meanwhile, Lyford residents and the L.C.P.O.A. [23] Bacon also served as a fundraiser for American politician Mitt Romney, who was elected governor of Massachusetts and later ran for president. 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. Nevertheless, he has fought to have the footage ruled inadmissible. 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. The circumstances don't appear suspicious until Bahamian police also find some. In 2005, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of the property line. A part of the collection travels with him at his yacht. 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. 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. 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. 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. In a court filing, he referred to it as a toilet drain., Nygard likes the idea that people think theyre going to a separate island when they go to his place, says Louis Bacon, a titan of New York finance and the neighbor who constructed the strategic no-parking zone. Does Peter like the fact that his beach got bigger? New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. [2] In 1989, Bacon used his middle name when he founded Moore Capital Management LLC; in 1990 he founded Moore Global Investments, using $25,000 inherited from his family. 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. At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. [22], Bacon contributed 500,000 to Britain's Conservative Party between 2010 and 2016. He turned a profit during his fourth semester. Bacons hedge fund is name-checked, too: MOORE CAPITAL MANAGEMENT. The latter-day Hatfields and McCoys never did mend their faces, although in the end Bacons foundation is famed in the Bahamas for its work conserving the oceanic white-tip shark, while Nygrds NYC headquarters were raided last year by the FBI before he was formally charged with sex trafficking. How hard is it really, to connect Kevin Bacon to other actors? I had to move the business as a fiduciary. 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. Both are locked in an eight-year legal war with each other that has turned each man's paradise into hell. Right in Bacons front yard! I helped to save his life, Nygard says of the time Bacon and his property manager got marooned during a fishing expedition. They searched the house for guns; there werent any, Ian Levy, Bacons property manager, says. The case was eventually settled. The former was founded in 1989, and the latter in 1990. Ill never have that recipe again. Hes got no idea how much money he put into it the first time. He paid $5.9 million, then over the next 15 years purchased two adjoining pieces of land for an additional $20 million. 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. [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. Coiled stone cobras hiss steam at sunset. It is less a driveway than a roadbut also a portion of road that is shared by both neighbors and nobody else, owing to how it cuts right through one mans property and ends at the other mans, which occupies the westernmost tip of the island. Elena Ambrosiadou, founder of hedge fund, Ikos, owns one of the most luxurious super yachts ever made. By Eric. 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. Instead, everybody stays up until three A.M. playing poker. Even though theres a custom-made board game called Baconopoly sitting on a credenza, with squares named for all of Bacons properties (Rutland Gate, Coral House), their identities turn out to have been affixed via printed stickers, a utilitarian gift. Me, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of Bahamas., Inc. ( & quot ; ) strategy as secretive, risk-conscious, a bit paranoid full of people wouldnt. Unofficially leased to him connect Kevin Bacon to other actors appear suspicious until Bahamian police also find.... Agreement ( via their groundskeepers ) on choices of island ficus and bougainvillea to along! 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