Coiled stone cobras hiss steam at sunset. Both are locked in an eight-year legal war with each other that has turned each mans paradise into hell. Its impossible for natural accretion to build a beach this size on a point, Romi Ferreira, a local ecologist and an attorney for the group, says, noting that Nygards southern flankon the bay sideconstitutes an especially egregious addendum. A lot of us in the old line viewed him as a curiosity. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. But Bacon, they insist, has never lost his cool. It is now a security booth and staff office for his estate. Its blood sport to him. He acknowledges that he feels something similar, with no intention of raising the white flag. To the extent you have used me as a straw man in your fights, you will need to find someone else now. In another e-mail Bacon offered to sell it to him at a discount, below the asking price of $35 million. But dont worry too much about Bacon: he still has Captain Kidds treasure to fall back on. People were worried about the security of our investors information.. Bacon responded by suing Nygard and obtaining a court injunction to remove it. 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. They divorced in 2002, after having four children together. He flies there in a private jet that bears the words PETER NYGARD N FORCE and once reportedly had a strippers pole inside. 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. Then there was his Georgian town house in Knightsbridge (before he sold it), not to mention spreads he still owns in Panama, New Mexico, and North Carolina, as well as his 172,000-acre Colorado ranch, which, when he purchased it from Malcolm Forbess family for $175 million, in 2007, became the most expensive American residence ever. He previously held positions at Walter N. Frank & Co., a NYSE specialist firm, and at Bankers Trust. The former was founded in 1989, and the latter in 1990. He paid $5.9 million, then over the next 15 years purchased two adjoining pieces of land for an additional $20 million. 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. But depending on whats out there in terms of infrastructure, it might be worth from $200 million to $500 million.. 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. How hard is it really, to connect Kevin Bacon to other actors? Im one of them., So was the first President Bush, who struck up a friendship with Nygard after Nicholas Brady took him to Nygard Cay once to marvel at the place. Mar 30, 2011, 6:48 AM. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. Even the Levys uniforms are low-key: matching polo shirts with the Point House logo, a simple childs drawing of a cottage. But its almost criminal for him to even be mentioned in the same paragraph as Peter 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.. Who Is Louis Bacon. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. 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. 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. 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. 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. [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. This page was last edited on 11 November 2022, at 06:41. A part of the collection travels with him at his yacht. 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. 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. 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. It has reached a point where neither man, though each used to consider Lyford Cay his rightful home, spends much time there anymore. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. 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.. 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. In February 2007, the pair married in a civil ceremony in his Manhattan residence. [5], After receiving his MBA, Bacon joined the sales and trading program at Bankers Trust. [2], Bacon graduated from Episcopal High School in Alexandria, Virginia. Bacon and his wife, Gabrielle, at the Metropolitan Museum of Art, New York, 2014. 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. The 171,400-acre (694km2) property sold for $175 million. Nygard was dredging, moving inordinate quantities of sand to increase the size of his property, says Fred Smith, one of Bacons lawyers. Nygard misses the life he had in Lyford before Baconwhom he refers to as my nice neighborbegan to get in the way. [18][19], In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family. 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. 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. Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400 as of February 2017. Resting off the coast of Long . Bacon announced he was closing his hedge fund and returning outside investors' money in November 2019, citing years of "disappointing results.". He has never denounced his great-grandfather, Smith says. Its not actually my product in terms of my invention, he says, giving credit to his lawyer Keod Smith, an activist who has served in the Bahamian parliament. [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. 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. 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.. He wont think of trying to replicate what he already built. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. 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. 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. 9 He owns a ranch in Argentina, in the country's most beautiful landmark. Sandwiched midway between the North and South forks, Robins Island is roughly 435 acres with miles and miles of waterfront. SueLyn Medeiros and Nygard at Bahamas Fashion Week, in Nassau, 2008. 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. I dont know if theres any substance to it, but I was told Captain Kidd buried treasure there. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. What Nygard has accused me of is beyond the pale, Bacon says. 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. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP ("Moore Capital"). 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. one goal in mind--to make it America's next great downhill mecca. The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. 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. 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. Jerry Falwell Jr. was the Trump-anointing dark prince of the Christian right. 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. From college to career, Bacon founded Moore Capital Management and The Moore Charitable Foundation, making smart investments in financial markets and the environment. You know that song, Someone left the cake out in the rain? He took steps to sue the Lyford Cay Property Owners Association. Years earlier, Nygard had obtained a government permit to redirect the sand. Other postings accused Bacon of taking credit for the efforts of local activists when he accepted the Audubon Medal for preserving Clifton Bay in 2013, and called his acceptance speech, which jokingly cited Gone with the Wind, racist. The world desperately needs leaders with the courage, drive and political skills to fight climate change and help restore the natural world. 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. Peter Nygard is a force for good.. Long before the puddle, Nygard clashed stylistically with much of the Lyford Cay establishment. The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. The common denominator is his engagement in natural resources, an astute sensitivity to all the components that make a habitat conducive to the area in question, says Peter Talty, an architect who works for Bacons own personal property-management company. (The road itself he saw fit to name E. P. Taylor Drive.) He is the founder and chief executive of Moore Capital Management. 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. Moore Capital, founded in March 1989, is a private investment management firm that invests in the global financial markets and private equity markets. 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. Left, by Phil Roach/Globe Photos/Zuma Press/Alamy; Right, by Yann Dandois. 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. He has a lot of them. Linney acted alongside Kevin Bacon in Clint Eastwood-directed Mystic River ( 2003). This easement will provide the founding tract for the proposed new Sangre de Cristo Conservation Area. 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. Todays roster is sleepy by comparison: aside from Sean Connery (who, nearly a half-dozen James Bonds ago, shot Thunderball and several other films here), there are scores of semi-anonymous businessmen or their progeny. 7 He has owned many yachts, all named Aviva. Hes also mortified to have his public identity joined with his antagonists. 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. Meanwhile, Lyford residents and the L.C.P.O.A. Bacon's environmental preservation-focused Moore Charitable Trust was defrauded out of $25 million by jailed banker Andy Caspersen. 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. They confiscated the speakers. It gives you a certain sense of purpose that, I guess, girds you to continue. 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. As of February 2017, Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400. (To give Nygard credit, hes industrious, Bacon concedes. I will save something on the brokers commission and you are the most interested party. Robins Island, the private estate of finance billionaire Louis Bacon (inset), could be worth as much as $500 million, local brokers said. 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. 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. To revist this article, visit My Profile, then View saved stories. Sacconaghi is a Canadian socialite and art adviser. Earlier this year, he enlisted the help of Sitrick and Company, a Los Angeles P.R. 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. Nygard doesnt deny his participation in the campaign. 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. Pokmon TCG Sword & Shield S3a Legendary Heartbeat Booster Box. 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. Buffetts representatives did not reply to requests for comment. Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. He is obsessed with longevity. 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. 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. 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. In 2014, 103 locals put their names on a complaint against the Bahamian government, demanding that certain procedures be followed in order for Nygard to get legal clearance to rebuild. 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. Louis Moore Bacon married Gabrielle de Heinrich Sacconaghi in Manhattan in 2007, five years after his divorce from his first wife Cynthia Pigott. 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. He is the founder and chief executive of Moore Capital Management. 2023 Cond Nast. Today, Robins Island provides a safe haven for threatened local shorebirds, including terns, piping plovers, sandpipers and oystercatchers. We went and got a special barge, huge undertaking, he says of importing them, adding that it was the first building he erected. He sued a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. 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. [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. (The queen was Noor of Jordan.) As for his place in Lyford, Point House, you might never guess that the owner is this rich. 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. Nygard designed and constructed the compound himself over more than two decades. 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. Last night, the famously private hedge fund tycoon Louis Bacon, let down his guard about loving the land. 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. 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. In a letter dated July 21, he was called out for the accumulation of land that came via his strategic renovation and was ordered to not only remove the structures hed built on the Crown landhis marina, lagoon, barbecue pit, and volleyball courtbut also reinstate the coastline. 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. "[11][15] Automattic, which owns WordPress, said Bacon would need a court order but agreed to remove any defamatory material from its websites. , has never lost his cool this page was last edited on 11 November 2022, 06:41. For my help, after receiving his MBA, Bacon says with miles and miles waterfront. About loving the land because of the countrys Olympic running squads, among many other charities the! 694Km2 ) property sold for $ 175 million was a bit of a cottage, a NYSE specialist,... To see him out there in a private louis bacon yacht that bears the words Peter Nygard well! If theres any substance to it, but I was told Captain buried... 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