I moved to Nygard Cay because its the most beautiful property in the world, and it happened to be that to get to it I had to go through Lyford Cay., The Lyford Cay Cluba golf-and-tennis facility with a majestically frayed pink clubhouseis the social hub of the community, and according to members, Nygard was discouraged from applying by people who broached the matter on his behalf with the membership committee. There was also the matter of sand. 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. But not all of Bacons land deals work out quite so well. He is the founder of Moore Capital Management, one of the leading investment firms in the trading industry. 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. Some people in Lyford refer to Bacons heroism for taking on the neighborhood bully. Im probably the one whos been affected the most, Bacon says, and I have the means to do something about it.. 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! [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. He is obsessed with longevity. 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. 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. Louis Bacon is one of the most famous traders in the world. Nygard kept going. He took steps to sue the Lyford Cay Property Owners Association. The owner just wont let you over there to search for it.. The former was founded in 1989, and the latter in 1990. 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. [25], In 1991, Bacon was 20th on the list of Financial World's Top 100 Wall Street Earners list. [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." The Levys have witnessed the feud up close and speak about their neighbor with contempt. He probably enjoys this, Bacon says. I helped to save his life, Nygard says of the time Bacon and his property manager got marooned during a fishing expedition. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. ("Foundation"). 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. Instead, everybody stays up until three A.M. playing poker. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. It was horrible squawking sounds that would drive you out of your mind, says Eric Gibson, Nygards former property manager. Recently, Mr. Bacon was recognized for his commitment to conservation with several honors, including the Theodore Roosevelt Conservation Partnership (TRCP) Lifetime Conservation Achievement Award, the Audubon Medal, the Chairmans Leadership Award from the National Fish and Wildlife Foundation and theLand Trust Alliance Presidents Awardfrom1,700 land trusts across the country. 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. 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. [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. That was settled two years ago, a rare moment of dtente that could have opened the way to broader peace talks. 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. Then a sex scandal rocked his marriage and ended his lucrative stewardship of the evangelical education empire founded by his father. 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. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. The whole thing began over a puddle in a driveway. Its quiet money, says David Laughlin, a New York financier (second-generation Lyford) and chairman of the Lyford Cay Club. One side of the environmental clash paints the. It wasnt vengeance, he says. But no. 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.. He created hedge fund Moore Capital in 1989 using trading profits and a small inheritance. Home of a champion: Inside the mansion of Bucks star Giann Todd Chrisley serving his time in one of America's cushiest prisons, John Leguizamo buys daughter a co-op on same NYC block as family house, Embattled kicker bought Neb. I am putting my holiday property on the market as it was intended for relaxation and enjoymentit has become anything but thanks to you. 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. 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. Nygard was dredging, moving inordinate quantities of sand to increase the size of his property, says Fred Smith, one of Bacons lawyers. In the time since Nygard began living there, his piece of land has grown from 3.25 acres to 6.1 acres. [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. Since 1994, he has contributed $175 million to conservationist causes, including funds to prevent Clifton Bay, a coral-lined stretch abutting Lyford Cay, from being developed as a subdivision anchored by a casino. 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 Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). Robins Island, the private estate of finance billionaire Louis Bacon (inset), could be worth as much as $500 million, local brokers said. Louis doesnt like attention in the first place, says his college friend and Lyford neighbor, Chris Brady. Linney acted alongside Kevin Bacon in Clint Eastwood-directed Mystic River ( 2003). His personal wealth is estimated to be over $1.5 Billion and his hedge fund Moore Capital Management has AUM close to $15 Billion. 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. Every Finn starts with the saunas.. Hes a philosopher, a visionary, a genius. 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. The objections to offshore drilling are economic, environmental and bipartisan. 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. 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. 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. Smith, who organized a parade where many participants wore K.K.K. 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. [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. We've received your submission. 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. [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. At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. The pool and gazebo at Nygards six-acre estate. What is it that Im working on? Nygard misses the life he had in Lyford before Baconwhom he refers to as my nice neighborbegan to get in the way. Wendall Jones, the publisher of The Bahama Journal, says, The residents of Lyford Cay say they dont appreciate his flamboyance when what they dont like is the fact that he invites so many black people over. 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. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. 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. The fellowship brings together emerging leaders from government, business, and NGOs who . He attended Middlebury College in Vermont where he received his BA in American literature, graduating in 1979. Ski and Snowboard Team Foundation. 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. 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. 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. Lyford Cay was designed as a gated winter community, the brainchild of the aforementioned E. P. Taylor and Sir Harold Christie, a scion of the Bahamian family that owned the original 3,000-acre plot at the western tip of New Providence. This page was last edited on 11 November 2022, at 06:41. [7] In 2010, the Denver Post reported that Bacon's net worth of $1.6 billion ranked him as the 238th richest American. Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. He threw a lot of parties and was always doing construction. To revist this article, visit My Profile, then View saved stories. 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. (Bradys father, Nicholas Brady, was secretary of the Treasury under President George H. W. Prior to founding Moore Capital, Mr. Bacon was a Senior Vice President-Futures at Shearson Lehman Brothers Inc. 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. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. He is the founder and chief executive of Moore Capital Management. 03 - YACHT CLUB AT PORTOFINO 04 - MURANO 05 - CONTINUUM TOWERS 06 - MURANO GRANDE 07 - ICON 08 - APOGEE 09 - ONE OCEAN 10 - SOUTH POINTE PARK Louis Bacon files $50 MILLION defamation suit against The exclusive Bahamas compounda favorite of billionaires and playboyshas been thrust into the spotlight by a a decades-long feud between neighbors Peter Nygard and Louis Bacon. Mar 30, 2011, 6:48 AM. louis bacon Bacon, Louis, banker; born Boston, 1872; son of Francis E., and Louisa (Crowningshield) Bacon; attended St. Paul's School, Concord, N. H., and graduated from Harvard College, A.B. But depending on whats out there in terms of infrastructure, it might be worth from $200 million to $500 million.. 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. 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. 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. Last night, the famously private hedge fund tycoon Louis Bacon, let down his guard about loving the land. 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. In February 2007, the pair married in a civil ceremony in his Manhattan residence. 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. A second estate in Lyford Cayfor spillover guests or staffhas an indoor squash court. 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. By Eric. Earlier this year, he enlisted the help of Sitrick and Company, a Los Angeles P.R. Its a better entrance for his guests and better for me too.. 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. 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. They all consider driving to town for the parade celebrating Junkanoo, a national holiday. As Shamu the whale and his property manager got marooned during a fishing expedition the in... 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