Was Tiffany involved? 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. Instead, everybody stays up until three A.M. playing poker. (Trust me, its a full-time job.) Bacon is fond of the judicious (and tax-deductible) gambit known as a conservation easement, deploying it, for example, to restore the eastern-mud-turtle population and preserve the habitat of endangered shorebirds on Robins Island. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). 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. In addition to his work in Colorado, Bacon has helped preserve and protect environmentally sensitive land in New York, North Carolina, and the Bahamas. 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. Nygard dispatched workers in the middle of the night to remove the non-locking cast-iron gates from the entrance to Bacons property, to rip up four sets of speed bumps on the portion of the driveway that cut through Bacons land, and to cover the NO TURNAROUND: PRIVATE PROPERTY warning that was painted on the shared road, replacing it with the words NYGARD CAY. The world desperately needs leaders with the courage, drive and political skills to fight climate change and help restore the natural world. 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. The owner just wont let you over there to search for it.. Bacon, who attended college at Middlebury in Vermont, has a long history of involvement in conservation efforts []. 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. But no. 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. Bacon and his wife, Gabrielle, at the Metropolitan Museum of Art, New York, 2014. [2][4], While at Columbia, Bacon traded commodities using a low interest loan he had received. He probably enjoys this, Bacon says. 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. He dated Anna Nicole Smith for several years. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. 2023 Forbes Media LLC. [21], In 2002 Bacon obtained Austrian citizenship, due to a special provision for figures who have made notable achievements for Austria. Best Restaurants in Fort Lauderdale He also serves on the Leadership Council of the Center for Public Leadership at Harvard Kennedy School and is a member of the Corporate Fund Board of the Kennedy Center. He sued the government. Nygard, unable to obtain government permits to rebuild his six-acre, Mayan-inspired compound after an electrical fire in 2009 demolished most of the structuresincluding the 32,000-square-foot grand hall, with its 100,000-pound glass ceilinghas been left to live out of his study when he does visit, and has stopped throwing parties altogether. [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." Louis Bacon is an American investor and hedge fund manager who founded Moore Global Investments in 1989, which is a New York-based hedge fund with a Q4 13F portfolio worth over $5 billion, as. Bacon took a job on the floor of the New York Cotton Exchange, working as a "runner". He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. 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. Nevertheless, he has fought to have the footage ruled inadmissible. But that was then, and this is now. Bacon is a well-known American investor, hedge fund manager, and philanthropist. 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. Both are locked in an eight-year legal war with each other that has turned each mans paradise into hell. Nygard misses the life he had in Lyford before Baconwhom he refers to as my nice neighborbegan to get in the way. Bacon has two luxury craft: a 74-foot 1954 Marinette Marine Corp. vessel docked in New Suffolk, and 'Kanga' a 38-foot boat he keeps on Robins Island. This was my dream, my life wrapped up in here. But tonight hes still having fun. 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. By Eric. 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. [22], Bacon contributed 500,000 to Britain's Conservative Party between 2010 and 2016. [10], In May 2011, Bacon obtained a court order in Great Britain, where he owned property, compelling the Wikimedia Foundation, WordPress and the Denver Post to reveal the identity of anonymous persons who allegedly defamed him on their websites. Peter Nygard is a hard-partying retail tycoon, whose estate is fit for a Mayan emperor. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. How Much Is Louis Bacon Worth It was Bacon's second marriage. Nygard insists that his place was the Eighth Wonder of the World until Bacon ruined it. He is the founder of Moore Capital Management, one of the leading investment firms in the trading industry. He has seven children, four with his first wife and three with his current wife. 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. Nygard says he plans to appeal. 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. He flies there in a private jet that bears the words PETER NYGARD N FORCE and once reportedly had a strippers pole inside. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). The Longleaf Alliance awarded Louis Bacon with the honor to acknowledge his contributions to forest health and his efforts to restore longleaf pine forests in North Carolina. 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. 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. He was given a job clerking at the specialist firm Walter N. Frank & Co during the summers of his college years. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. Louis Bacon's House - Virtual Globetrotting West Harbour, New Providence (aka Nassau So, after vacationing with his family on North Island in Seychelles, he bought it for a whopping $35 million. Two yachts and a private plane; Contributions to Andrew Cuomo: $48,600 Contributions to New Yorkers for a Balanced Albany: $325,000. I helped to save his life, Nygard says of the time Bacon and his property manager got marooned during a fishing expedition. Ski and Snowboard Team Foundation. [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. Smith, who organized a parade where many participants wore K.K.K. Nygard filed a counterclaim and tells anybody who will listen that Bacon is trying to destroy him out of a simple desire to take over his property, claiming that some years agoNygard cant recall whena real-estate agent came to his house on Bacons behalf and offered $100 million for the place. 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. (The queen was Noor of Jordan.) 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. 2023 Cond Nast. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. SueLyn Medeiros and Nygard at Bahamas Fashion Week, in Nassau, 2008. Where Nygard has made a visible mark on the cay with his estate, Bacon wants his country houses known for how meticulously they fit into their surroundings. 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. Cow Neck Farm, Long Island, New York: Bacon's Cow Neck Preserve, LLC purchased the farm in 1998 and donated a 540-acre conservation easement to the Peconic Land Trust, thus preventing development and ensuring the protection of the area's habitat. Mr. Bacon is also the Chairman of The Moore Charitable . The pool and gazebo at Nygards six-acre estate. Reflects change since 5 pm ET of prior trading day. 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. 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. Those disputes allowed Bacon to swoop in to buy Robins Island on the cheap. You know that song, Someone left the cake out in the rain? Mr. Bacon is also a member of the Board of Directors of the Foreign Policy Association. The new conservation easement Bacon intends to donate is to protect Blanca thus protecting all 172,000 acres of land.[31]. The Trinchera section of the ranch is currently protected by an easement administered by Colorado Open Lands. (He bought the entire 445-acre island in 1993 for $11 million.) The dip created a drainage problem when it rained: the puddling. [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. To revist this article, visit My Profile, then View saved stories. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . [24] In 2015, Bacon donated $1 million to a Super PAC supporting the presidential candidacy of Jeb Bush. His Colorado donation of 167,000 acres on the Trinchera Blanca Ranch to the US Fish and Wildlife Service was the largest it ever received. As for the real estate value of Robins Island even in a Hamptons market that is out of control with almost nothing available, according to Breitenbach neither Bacon nor his heirs will ever be able to cash in via development. He no longer holds his Sunday-night pamper parties, which offered everybody free spa treatments. 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. Last night, the famously private hedge fund tycoon Louis Bacon, let down his guard about loving the land. Louis funded our litigation against the factory-farm industry while he was constantly running into the head of Smithfield in his elevator, because they lived in the same building on Park Avenue, Kennedy says. Who Is Louis Bacon. [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. 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. In the time since Nygard began living there, his piece of land has grown from 3.25 acres to 6.1 acres. Soon, theyre joined by a couple of other women, who have just arrived from Miami, and several members of the Bahamian mens volleyball team. He created hedge fund Moore Capital in 1989 using trading profits and a small inheritance. But dont worry too much about Bacon: he still has Captain Kidds treasure to fall back on. [35], He is the 2013 recipient of the Audubon Medal, given in recognition of outstanding achievement in the field of conservation and environmental protection. He is the founder and chief executive of Moore Capital Management. This is not a man you just phone up to tell him that a leafs fallen off a tree. The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. They confiscated the speakers. 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. And it had mosquitoes. Bacon hasnt set foot in the Bahamas in more than a year, claiming it would put his personal safety at risk. Mar 30, 2011, 6:48 AM. 6 He is an art collector. "[11][15] Automattic, which owns WordPress, said Bacon would need a court order but agreed to remove any defamatory material from its websites. Forbes magazine named Louis Bacon as the 746th . Moore Capital Management LLC, the $15 billion hedge fund run by Louis Moore Bacon, cut 10 to 15 investment jobs as it restructures one of its equity teams, according to three people with knowledge . Peter Nygard is a force for good.. 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.. 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. Moore Capital still manages internal money and scored 70% returns in 2020 for Bacon and his employees. (To give Nygard credit, hes industrious, Bacon concedes. The 171,400-acre (694km2) property sold for $175 million. Bacon arrived next door at Point House in 1994. He ignored Bacons offer and soon hit him with another lawsuit, and the Internet campaign against him was launched. Its not in keeping with what we do here, but people went out there to look at it. Member firm Edgerly & Crocker since 1900; also of Central Aguirre Sugar Co. Republican. 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. Its a better entrance for his guests and better for me too.. Hes a philosopher, a visionary, a genius. On his TV is a frozen picture of Bacon bearing the words 5 Lies of Bacon. Outside, on his volleyball court, one of several large signs reads, ITS [sic] TIME TO THROW THE TRASH OUT! Youve probably never heard of Robins Island, a teardrop-shaped islet half the size of Central Park in the Great Peconic Bay on the East End of Long Island. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. The objections to offshore drilling are economic, environmental and bipartisan. The whole thing began over a puddle in a driveway. 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. For the preceding 400 years it had been known as Simms Point. 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. They approved it by letter and after a while it sort of grandfathers itself in, he says. 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. 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. A key component of Bacons defamation suit, which his attorney, Orin Snyder, vows will have its day before a jury, is a 1,000-hour cache of footage shot by Nygards personal videographer, Stephen Feralio. [2][4][6], In 1987 Bacon founded Remington Trading Partners. He uses the yacht as an office. 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. Right in Bacons front yard! The former was founded in 1989, and the latter in 1990. He wont think of trying to replicate what he already built. 7 He has owned many yachts, all named Aviva. We hired a sound consultant in the U.K. to see if we could somehow muffle the sound from Nygards by emitting a counter-sound, but that proved terribly complicated, so we went and got four huge rock-concert speakers to play something loud in response, Bacons architect, Peter Talty, says. 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. 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. 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. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. 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. 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. Giant urns belch smoke like volcanoes. This page was last edited on 11 November 2022, at 06:41. Bacon responded by suing Nygard and obtaining a court injunction to remove it. The 289-foot yacht is the largest private sailboat in the world based . [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. [28][29], In June 2012, United States Secretary of Interior Ken Salazar and United States Fish and Wildlife Service Director Daniel M. Ashe announced Bacon intends to donate a conservation easement totaling approximately 90,000 acres in the Sangre de Cristo Mountains bordering the San Luis Valley in Colorado. Snyder secured the mans testimony and has sought access to the recordings, which he claims show Nygards involvement in the harassment campaigninstructing employees on what he wants their YouTube spots to contain, for instanceas well as Peter Nygards meetings and interactions with Bahamian officials regarding construction at Nygard Cay, and Mr. Nygards donation of money to Bahamian politicians, according to Feralios attorney. Does Peter like the fact that his beach got bigger? In 2005, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of the property line. 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. 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. Both are locked in an eight-year legal war with each other that has turned each man's paradise into hell. 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. 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. Thanks for contacting us. The Foundation and its affiliates support non-profit organizations that work to protect land, habitat, and water resources in specific geographic priority areas including Southern Colorado, Northern New Mexico, Long Island, Eastern North Carolina, The Bahamas, and Panama. 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. In August 2010, just after the police raid, Nygard wrote to Bacon in an e-mail, LouisAre you sure its worth it to escalate this Bahamas scrimmage? ), even though his lots location at the tip of the peninsula meant that it was not deeded within the L.C.P.O.A. Under a program to improve forest health, philanthropist Louis Bacon owns a saw mill near his Colorado ranch that helps thin forests, clear dead tree and reduce the threat of catastrophic fire. [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. Reclusive billionaire Louis Moore Bacon is emerging from the shadows in a southern Colorado showdown over solar-power transmission lines. He mentions that his assistant is one of my main girlfriends.. (Bacon has said he made no such offer and was never interested in acquiring Nygards land. 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. Instead, everybody stays up until three A.M. playing poker because theyre of... Guard about loving the land. [ 31 ] Metropolitan Museum of Art, New,. 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