A battle between hedge-fund billionaire Louis Bacon and a Canadian clothing magnate spills into New York court. 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. 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. HMCo #583s Gamecock [Game Cock]. [9], As of March 2022, Bacon holds a substantial interest in EV startup, Fisker Inc. with Bacon's Moore Capital Management holding 8.45 million Fisker shares. I have my own life, you know? Mr. Bacon is also a member of the Board of Trustees of the U.S. He is the chief executive and founder of Moore Capital Management. 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. At 74, with his long white hair and vigorously spread family tree (he has had eight children with five women), Nygard is something like the Hugh Hefner of down-market retail. The pair live in the Clifton Bay area of the Bahamas. Mr. Bacon is also the Chairman of The Moore Charitable . Nygard insists that his place was the Eighth Wonder of the World until Bacon ruined it. Elena Ambrosiadou, founder of hedge fund, Ikos, owns one of the most luxurious super yachts ever made. Getting younger., More than anything, Nygard is proud of his concrete sanctuary, which in 1992 he persuaded the Bahamian government to rename Nygard Cay to coincide with a Lifestyles of the Rich and Famous segment. This page was last edited on 11 November 2022, at 06:41. [25], In 1991, Bacon was 20th on the list of Financial World's Top 100 Wall Street Earners list. 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. 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. 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. 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. [3], In December 2013, Bacon purchased Taos Ski Valley from the Blake family, who had owned it since 1954. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). Linney acted alongside Kevin Bacon in Clint Eastwood-directed Mystic River ( 2003). Thats totally true, said Cutchogue resident Tonya Witczak, 46. For a 27-year-old, Bacon deployed a powerful Rolodex. Bacons hedge fund firm, Moore Capital Management, will be returning all client money in its three main funds, further signaling tough times in the hedge fund business. 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. [30], Bacon owns the Trinchera Blanca Ranch located in the San Luis Valley. 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. 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. 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 . They confiscated the speakers. He has never denounced his great-grandfather, Smith says. Hedge fund billionaire Louis Bacon's gardener is found in the buff and in the Jacuzziand also dead. How hard is it really, to connect Kevin Bacon to other actors? 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. louis bacon, the billionaire hedge funder and philanthropist, and ken salazar, the former u.s. secretary of the interior, announced yesterday that they have formed a new conservation-minded. 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. [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. 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). 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. Ospreys flourish and at least one pair of bald eagles are known to have mated on the island, while animals (the eastern mud turtle) and plants (seabeach knotweed) otherwise endangered can be seen thriving in the restored environment on Robins Island. But its almost criminal for him to even be mentioned in the same paragraph as Peter Nygard.. Bacon also has a prop plane, a 1999 Mooney M20. The objections to offshore drilling are economic, environmental and bipartisan. 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. Headquartered in New York, with additional offices in London and Hong Kong, Moore Capital provides investment management services to its institutional and high net worth clients through several privately-offered funds, including two global diversified hedge funds, as well as funds that concentrate in the global fixed income and emerging market sectors. Reflects change since 5 pm ET of prior trading day. Bacon arrived next door at Point House in 1994. 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. 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. Bacon responded by suing Nygard and obtaining a court injunction to remove it. 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. That was settled two years ago, a rare moment of dtente that could have opened the way to broader peace talks. Mr. Bacon currently serves on the Board of Overseers at Columbia Business School. Nevertheless, he has fought to have the footage ruled inadmissible. 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. Forbes magazine named Louis Bacon as the 746th . Nygard is convinced that Bacon orchestrated all his problems with Lyford Cay and the government. The world desperately needs leaders with the courage, drive and political skills to fight climate change and help restore the natural world. Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. 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. The Louis and Gabrielle Bacon Environmental Leadership Fellowship is a transformational experience designed to prepare a new generation for environmental leadership. After a few years he stopped paying dues. [21], In 2002 Bacon obtained Austrian citizenship, due to a special provision for figures who have made notable achievements for Austria. He sued the government. Two years later, Bacon dealt with his long-standing irritation with the noise from Nygards parties by installing industrial-grade speakers at the edge of his land and pointing them at Nygard Cay at night. 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. 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 . Nygard misses the life he had in Lyford before Baconwhom he refers to as my nice neighborbegan to get in the way. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. As for his place in Lyford, Point House, you might never guess that the owner is this rich. But that wasnt why he did it. But in 2010, Nygard received distressing news from the prime ministers office. [2] Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division. His father, Zachary Bacon Jr., founded real estate company Bacon & Co. and later led Prudential Financials and Merrill Lynchs real estate efforts in North Carolina. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. It wasnt vengeance, he says. [11], In May 2011, the High Court in London granted Bacon a court order to obtain information from the Wikimedia Foundation, The Denver Post, and WordPress as to the identities of internet users alleged to have defamed him by their postings. I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there, the sailor, who asked to remain anonymous, said. 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. 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 . Former Interior Secretary Ken Salazar and conservation philanthropist Louis Bacon say super fires should not be the new normal. He reminds me of Hitler., Peter Pinocchio, Bacon calls Nygard in an open letter he published in the Bahamas Tribune, noting his habit of playing footsie with the truth.. (Bacon has said he made no such offer and was never interested in acquiring Nygards land. 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! Years earlier, Nygard had obtained a government permit to redirect the sand. 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. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. [2][4], While at Columbia, Bacon traded commodities using a low interest loan he had received. Its not in keeping with what we do here, but people went out there to look at it. [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. 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. 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. As a former yacht captain, if I am sailing and my owner decides to cross with another boat, the other captain and I wont even refer to our boats owners by name. That it has since been preserved as a national park was what, in 2013, won him the Audubon Societys annual medal for contributions to conservation. Louis Moore Bacon is a hedge fund manager and philanthropist. There is a formal process to get into Lyford, says Chris Brady, a lifelong member. 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. He didnt want me to leave, Bacon says, meaning that, thanks to being freighted with a ton of neighborly litigation, Point House is essentially unsellable. Nygard says he wants Bacon to leave Lyford Cay: I think, at this point, it would be better if he did. He would consider nothing less a satisfactory end to their grudge match. Bacons hedge fund is name-checked, too: MOORE CAPITAL MANAGEMENT. Both are locked in an eight-year legal war with each other that has turned each mans paradise into hell. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. Initially, the Foundation agreed to give the information to Bacon's solicitors,[14] but later said it would cooperate only with a court order in the U.S., saying "Please note that we do not comply with foreign subpoenas absent an immediate threat to life or limb. "[11][15] Automattic, which owns WordPress, said Bacon would need a court order but agreed to remove any defamatory material from its websites. (The road itself he saw fit to name E. P. Taylor Drive.) 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. He is the founder and chief executive of Moore Capital Management. They all consider driving to town for the parade celebrating Junkanoo, a national holiday. 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 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. 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. But I agree with it. Has he bankrolled it? Nygard and one of the outsize lion heads at Nygard Cay, 2015. In the time since Nygard began living there, his piece of land has grown from 3.25 acres to 6.1 acres. 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 a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. Its quiet money, says David Laughlin, a New York financier (second-generation Lyford) and chairman of the Lyford Cay Club. Hes a philosopher, a visionary, a genius. The fellowship brings together emerging leaders from government, business, and NGOs who . For the preceding 400 years it had been known as Simms Point. The new conservation easement Bacon intends to donate is to protect Blanca thus protecting all 172,000 acres of land.[31]. But Bacon, they insist, has never lost his cool. 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. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. 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. Today, Robins Island provides a safe haven for threatened local shorebirds, including terns, piping plovers, sandpipers and oystercatchers. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. And it had mosquitoes. When he turned him down, the agent replied that Bacon would get the property one way or another, Nygard claims, adding that he doesnt know the mans name and cant remember where he worked, because it was such a joke to me. Even so, he says, he took it as a threat. He paid $5.9 million, then over the next 15 years purchased two adjoining pieces of land for an additional $20 million. Last night, the famously private hedge fund tycoon Louis Bacon, let down his guard about loving the land. Nygard and his friends sometimes refer to his estate as Disneyland on steroids. Chichn Ibiza is more like it. 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. 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. His personal wealth is estimated to be over $1.5 Billion and his hedge fund Moore Capital Management has AUM close to $15 Billion. A part of the collection travels with him at his yacht. Bacon landed at Shearson Lehman Hutton in 1983 as a futures broker, trading on behalf of some of the biggest names in the hedge fund world. Of course he does. At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. 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 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. He bought his house, a modest beach bungalow, in 1984 for $1.76 million. The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. The circumstances don't appear suspicious until Bahamian police also find some. Coiled stone cobras hiss steam at sunset. [23] Bacon also served as a fundraiser for American politician Mitt Romney, who was elected governor of Massachusetts and later ran for president. 6 He is an art collector. The multi-hued structures are festooned with thousands of colored lightbulbs. Does Peter like the fact that his beach got bigger? Long before the puddle, Nygard clashed stylistically with much of the Lyford Cay establishment. In January 2015, he leveled a $100 million defamation complaint against Nygard in New York, where both mens businesses are headquartered. Hedge fund managers have been displaced on the Forbes 400 over the last two years not only by tech billionaires, but by a fish stick king, meat processor, vodka distiller and ice tea brewer. 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. He is the founder and chief executive of Moore Capital Management. He flies there in a private jet that bears the words PETER NYGARD N FORCE and once reportedly had a strippers pole inside. 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. 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. [35], He is the 2013 recipient of the Audubon Medal, given in recognition of outstanding achievement in the field of conservation and environmental protection. 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. Bacon, who founded Moore Capital in 1989 with a $25,000 inheritance. Louis Bacon is one of the most famous traders in the world. 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. But no. It would mean returning all that sand to the Bahamas rightful seabed, shrinking his property back down to its original dimensions. [17], In 1986 Bacon married Cynthia Pigott,[4] a former Newsweek magazine staff member. He created hedge fund Moore Capital in 1989 using trading profits and a small inheritance. But just as one mans driveway is another mans easement, one neighbors cocktail party is anothers sleepless night due to the fact that there are 2,000 Bahamiansplus a lot of young women from islands throughout the Atlantic, not to mention Europewhooping it up at the topless bacchanal next door. Soon afterward, Bacon pulled his three youngest children out of school in Lyford Cay and requested that the 70-person offshore advisement desk that handles his client records be moved out of the Bahamas. The two men are next-door neighbors in Lyford Cay, a gated community on New Providence, an island in the Bahamas, and for years it had been a peaceful adjacency. An aerial view of the western tip of New Providence, 2014. 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. Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist. Theyre not parties the typical Lyford Cay family is having with their grandchildren. had been lodging complaints with the government for years, even compiling aerial photographs that documented the expanding dimensions of Nygards coastline thanks to a series of underwater, sand-collecting barrierscalled groinsthat jut out from the shoreline. 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. They managed an agreement (via their groundskeepers) on choices of island ficus and bougainvillea to plant along the easement. Hes a member of the Racquet and Tennis Club and the Union Club of the City of New York. 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. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. [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. I might have done that. He probably enjoys this, Bacon says. 8 His latest yacht has an indoor paddle tennis court. Another ancestor, Bartholomew Moore, was a lawyer who argued in a landmark case that slaves had the legal right to protect themselves from a violent master. Many from Lyford Cay would celebrate their weddings, anniversaries, and other special events at Nygard Cay, or bring their V.I.P. The former was founded in 1989, and the latter in 1990. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. 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? Louis Bacon Uses Chevron's Tool To Fight Neighbor And Clothing Magnate Peter Nygard, With His New PAC, Louis Bacon Becomes Latest Hedge Funder To Get Politically Active, Colorado Hedge Fund Billionaire Louis Bacon Buys Taos, New Mexico, Ski Resort, Audubon Society Gala Honors Louis Bacon, Bette Midler Sings Birdie Tunes, Louis Bacon Loves Birds, Bette Midler Can't Remember, And Other Scenes From The Audubon Gala At The Plaza Hotel, Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West, Billionaire Hedge Fund Manager Returns $2B To Investors, Blames Merkel, Hedge Fund Billionaire Louis Bacon To Donate 90,000 Acres For Colorado Conservation Area, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Traders in the Jacuzziand also dead Fellowship is a formal process to get in way... 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