Stephen Deckoff Wikipedia, Net Worth, Wife, Cornell, House

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Stephen Deckoff Wikipedia, Net Worth, Wife, Cornell, Home

Stephen Deckoff Wikipedia, Net Worth, Wife, Cornell, House – The famous Caribbean islands owned by Jeffrey Epstein have finally found a buyer after more than a year on the market. Stephen Deckoff, CEO of private equity firm Black Diamond Capital Management, paid $60 million for the two islands, less than half of the original asking price of $125 million.

Stephen Deckoff Wikipedia, Net Worth, Wife, Cornell, HomeStephen Deckoff Wikipedia, Net Worth, Wife, Cornell, Home

Deckoff said Wednesday that he plans to build a 25-room luxury resort on the property, adding that he has never met Epstein and has never been to the islands before they were built. advertised after Epstein’s death in 2019.

According to Deckoff, who has been a proud resident of the U.S. Virgin Islands for over ten years, “I am extremely excited to be able to offer this region a world-class destination through its natural beauty and beauty. its nature.” “I look forward to working with the US Virgin Islands to make this dream come true.”

Located just off the coast of the popular tourist spot St. Thomas, which includes Little St. James is over 70 acres and the Great St. James is over 160 acres, already has a helipad, various swimming pools and numerous guest houses. To build the resort he plans to open in about two years, Deckoff is currently hiring architects and engineers.

Despite the natural beauty of the island’s beaches with palm trees and crystal clear waters, Epstein’s ownership cast a negative light on them. Little St. James was purchased by a disgraced banker in 1998 for an estimated $8 million.

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He built various quirky structures on the property, which has been called a “pedophile island” because of its connection to Epstein’s sex trafficking organization. He lived there in a rather large house. Virginia Giuffre, the alleged victim, has asserted that Prince Andrew, Duke of York, sexually assaulted her at Little St. James (an allegation that Buckingham Palace has denied). Epstein paid the alleged $22.5 million to Great St. James’ nearby in 2016, largely undeveloped.

While facing federal charges of child trafficking in Florida and New York, he died in his Manhattan cell in 2019. In December 2021, his friend Ghislaine Maxwell, who assisted Epstein in obtaining young girls, was found guilty of child sex trafficking and given a 20-year prison sentence.

After the attorney general of the US Virgin Islands filed a lawsuit in 2020, alleging that the territory was duped into giving Epstein’s company, the Southern Trust Company, tax benefits that allowed Epstein to use Using his residence there to abuse girls and women, Epstein’s estate agreed to pay $105 million for the territory, including the return of $80 million in tax benefits.

Under the settlement, the government of the U.S. Virgin Islands will receive $30 million, or half of the proceeds from the sale of the islands, to be placed into a trust providing consulting services and services. other services for victims of sexual assault.

Deckoff, who has an estimated net worth of $3 billion, made his money in private equity. He rose through the ranks at a number of companies, including Drexel Burnham Lambert, Bear Stearns and Kidder, Peabody & Co., before forming his own with Black Diamond Capital in 1995. The Stamford, Connecticut-based group is now oversees $9 billion in assets and focuses on high-yield debt, bad debt, corporate restructuring and turnaround.

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Deckoff, a native of New York City, moved to the US Virgin Islands in 2011. More than $1.2 million of his donations to local charity went to private schools and groups specializing in environmental protection.

Irma and Maria, two Category 5 storms that devastated the islands in September 2017, are still affecting their recovery. According to a press release issued on Wednesday, Deckoff intends to build a “world-class, five-star, state-of-the-art luxury resort” on the site to promote tourism and economic growth economy “while respecting and conserving the important environment. of the archipelago.”

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