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. A native of North Carolina, Mr. Bacon earned an M.B.A. in Finance from Columbia Business School in New York and holds a Bachelor of Arts degree in American Literature from Middlebury College in Vermont. 6 He is an art collector. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. And around it, the adjacent properties are dark., From time to time I see the procession of people coming to his partiesmotorcades full of these attractive girls, says Jean-Charles de Ravenel. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. Its simply your owner and my owner. Even so, he does acknowledge that a sitting queen and a former king have been guests of the Bacons. Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. Both are locked in an eight-year legal war with each other that has turned each mans paradise into hell. He bought his house, a modest beach bungalow, in 1984 for $1.76 million. Bacon responded by suing Nygard and obtaining a court injunction to remove it. [2][3] Bacon met Walter Frank while he was working on a fishing boat on Long Island. And more! 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. His key conservation projects include: In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame. In a glass-tower office, framed by views of the Manhattan skyline and the Hudson River, Bacon, 59 years old and sitting tall in a chrome-and-leather chair, is surrounded by trading screens, clocks set to the times of various overseas markets, squash and yachting magazines, model aircraft. 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. An easement is what the driveways creator, the developer E. P. Taylor, a Canadian brewing tycoon, termed this shared passage when he established Lyford Cay in 1955. Thats kind of funny when you think about it, particularly since his name is Bacon.. Nygard says he plans to appeal. The pair live in the Clifton Bay area of the Bahamas. 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. 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. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. 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. It is now a security booth and staff office for his estate. Nygard says that he has not seen the footage and that his lawyers dispute this account. 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. [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." His response isnt emotional, Ian Levy says. How Much Is Louis Bacon Worth Nygard kept going. by Melanie Grace West", "AMERICA'S GREAT OUTDOORS: Salazar, Ashe Announce Historic Conservation Easement in Sangre de Cristo Mountains", "90,000 Colorado acres offered for national protected area", "GARDEN NOTEBOOK;Paradise Returns (With Heliport)", "Cohen, Simons, 12 Others Enter Hedge Fund Hall", "Louis Bacon Receives Audubon Medal for Conservation, Environmental Work", "TRCP TO CELEBRATE THREE EXTRAORDINARY CHAMPIONS OF HABITAT CONSERVATION", "Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West," Forbes, How a Neighbors Feud in Paradise Launched an International Rape Case, https://en.wikipedia.org/w/index.php?title=Louis_Bacon&oldid=1121232736, Episcopal High School (Alexandria, Virginia) alumni, Businesspeople from Raleigh, North Carolina, Short description is different from Wikidata, Wikipedia indefinitely move-protected pages, Creative Commons Attribution-ShareAlike License 3.0. And one mans overflow of parked cars along the driveway on that sleepless neighbors side of the property line is another mans reason to have the section of the driveway that cuts through his property re-graded and rebuilt, adding a dip and tall flagstone walls on either side, leaving no shoulder space for anybody to ever conceivably think of parking there, while also screening the driveway from view. But it may very well be the most valuable private estate in all of the Hamptons and the most untouchable. But that wasnt why he did it. But in 2010, Nygard received distressing news from the prime ministers office. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. His clumsy attempt to clear his name, in a no-holds-barred interview with BBC, Inside Jerry Falwell Jr.s Unlikely Rise and Precipitous Fall at Liberty University. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. Louis Bacon is a conservation philanthropist and the founder and Chairman of Moore Capital Management, LP established in March 1989. And somehow, what began in 2007 with a bit of irritation over runoff has escalated to a battle royal encompassing no fewer than 16 legal actions between Nygard and Bacon and their associates, in which both sides are claiming damages in the tens of millions of dollars and lobbing allegations of activities that include vandalism, bribery, insider trading, arson, murder, destruction of the fragile seabed, and having a close association with the Ku Klux Klan. He talks about the virtues of exercise and healthy eating, and he takes about 50 pills a dayvitamins, supplements, pharmaceuticals, he says. Sacconaghi is a Canadian socialite and art adviser. 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. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. 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. Peter Nygard is a force for good.. 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. Billionaire Louis Bacon Is Closing Legendary Hedge Fund To Clients, America's Richest Hedge Fund Managers Keep Falling Off List Of Nation's Wealthiest, Billionaire Louis Bacon's Charitable Foundation Sues PJT Partners Over The Andrew Caspersen Fraud, 5 Louis Bacon Holdings Attracting Short Sellers, Hedge Fund Billionaire Louis Bacon Says Clothing Mogul Peter Nygard Plotted Murder Over Beach House, Billionaires Bacon, Nygrd Trade Nasty Allegations In Bahamas Spat. Full-grown oak trees have been replanted to replace ones previously harvested, grasses not native to the area have been removed and the herds of deer once overrunning the island have been culled. If you have any problems, any concerns, any annoyancesjust ask me direct Im sure we can work them out amicably., To which Bacon replied, You are the one with the various lawsuits against me Peter, so I find this quizzical. The retired media executive added that hes heard about well-attended bird hunts on the island.I heard that Jimmy Buffett was shooting there in November, he said. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). 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. Bacon, who attended college at Middlebury in Vermont, has a long history of involvement in conservation efforts []. Ann Colley, Director of Public Relations and Charitable Giving at Moore Capital Management, is the Executive Director and Vice President. Best Restaurants in Fort Lauderdale 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. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. Sandwiched midway between the North and South forks, Robins Island is roughly 435 acres with miles and miles of waterfront. Nevertheless, he has fought to have the footage ruled inadmissible. 7 He has owned many yachts, all named Aviva. 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. They are like the North-Going Zax and the South-Going Zax in the Dr. Seuss tale, who will not budge, not ever, not one inch. I might have done that. The signs are easily seen from the Bacon familys breakfast nook. Jones and brother Zack, who deployed landed at Soros Fund Management as head trader, threw plenty of business Bacon's way. In 1997, Bacon granted a conservation easement for most of the island to the Virginia-based global environmental organization the Nature Conservancy, making Robins Island a protected wilderness area. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. He has never denounced his great-grandfather, Smith says. From college to career, Bacon founded Moore Capital Management and The Moore Charitable Foundation, making smart investments in financial markets and the environment. Then a sex scandal rocked his marriage and ended his lucrative stewardship of the evangelical education empire founded by his father. Right in Bacons front yard! Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. This page was last edited on 11 November 2022, at 06:41. The 289-foot yacht is the largest private sailboat in the world based . 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 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. Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. Legal experts suggested compliance with the orders was unlikely, given the US tradition of freedom of speech, and the fact that US courts typically required "actual evidence or sufficient allegations of libel" before granting similar orders. 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. These things cant go unanswered. 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. The signs (which Nygard says have since been taken down) are pointed out toward the water, in case anybody sailing by in Clifton Bay should want to know more about the man. Bacon and Nygards neighbors prefer to keep a low profile: Count and Countess de Ravenel, of France; the Brazilian re-insurance magnate Antonio Braga; Jane Lewis, wife of the English investor Joe Lewis. [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. Today, it has about a dozen lines of inexpensive apparel, aimed mostly at middle-aged shoppers and available in more than 200 Nygard stores and other retail chains in North America, and does $500 million in annual sales. Because both of them happen to be billionaires, it is a picturesque driveway, lined by casuarina trees and triple Alexander palms, 200 feet north of a stunning body of water known as Clifton Bay and 100 feet south of an even more stunning vista upon the Atlantic Ocean. He mentions that his assistant is one of my main girlfriends.. For the preceding 400 years it had been known as Simms Point. Bacon arrived next door at Point House in 1994. And in order to come to our place you had to go and wear rubber boots to come and knock on our door, says Peter Nygard, a Canadian manufacturer of womens wear and the neighbor at the end of the road who threw the parties. Mr. Bacon is also the Chairman of The Moore Charitable . Bacon took a job on the floor of the New York Cotton Exchange, working as a "runner". 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. They did of course warn me about my neighbor, but thats probably why the price was right, Bacon says. 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. He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. Im into a lot of other kind of design, the New York designits more techy, he says. For a 27-year-old, Bacon deployed a powerful Rolodex. 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. 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.. 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. Nygard doesnt deny his participation in the campaign. This easement will provide the founding tract for the proposed new Sangre de Cristo Conservation Area. He also owns a grouse moor in Scotland and a hunting lodge in the North of England. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. 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 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. He has poor kids and athletes out to his house every day, says his best friend, Carlos Mackey, who is the host of a sports program on local TV. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). Many from Lyford Cay would celebrate their weddings, anniversaries, and other special events at Nygard Cay, or bring their V.I.P. 2023 Forbes Media LLC. Bacon grew up in a wealthy real-estate-business family in North Carolina, boarded at Episcopal High School, in Alexandria, Virginia, and graduated from Middlebury College (where he is now a trustee) and Columbia Business School. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). Hes also mortified to have his public identity joined with his antagonists. Thats when Nygard got mad. 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. He has seven children, four with his first wife and three with his current wife. They ended up getting somebody else to come find us. (Nygard says that Bacons then wife was most appreciative and that he has never been interested in Bacons house.). At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. In January 2015, he leveled a $100 million defamation complaint against Nygard in New York, where both mens businesses are headquartered. Photo by Charles Eshelman/FilmMagic/Getty Images. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. A lot of us in the old line viewed him as a curiosity. At that time the islands ownership was under dispute it had been under dispute since the Revolutionary War, when it was seized from its Loyalist owner, Parker Wickham, by Patriot members of the Culper Spy Ring. Define "Right Sidebebar Menu" from Menu Locations, The Suffolk Times recounts the history of Robins Island and Louis Bacon's work to preserve the jewel of the Peconic.. The 171,400-acre (694km2) property sold for $175 million. 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. 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