Stephen Deckoff Wikipedia, net worth, wife, Cornell, house
Stephen Deckoff Wikipedia Net Worth Wife Cornell Home The notorious archipelago in the Caribbean owned by Jeffrey Epstein has finally found a buyer after more than a year on the market. Stephen Deckoff, CEO of private equity firm Black Diamond Capital Management, paid $60 million for the two islands, less than half of the original asking price of $125 million.
Stephen Deckoff Wikipedia, net worth, wife, Cornell, house
Deckoff said Wednesday that he plans to build a 25-room luxury resort on the property, adding that he has never met Epstein and has never been to the islands before they advertised after Epstein’s death in 2019.
According to Deckoff, who has been a proud resident of the U.S. Virgin Islands for over ten years, “I’m incredibly excited to be able to transform this region into a world-class destination with beauty and natural beauty.” its.” “I look forward to working with the US Virgin Islands to make this dream come true.”
A short walk from the shores of the popular tourist spot St. Thomas is not far away, an enclave that includes the islands of Mali St. James is over 70 acres, and Great St. James’s over 160 acres already has a helipad, various swimming pools and numerous guest houses. Deckoff is currently hiring architects and engineers to build the resort he plans to open in about two years.
Despite the natural beauty of the island’s palm-fringed beaches and crystal clear waters, Epstein’s ownership cast a negative light on them. Little St. James was purchased by a disgraced banker in 1998 for about $8 million.
He built many unusual structures on the property, which has been dubbed “Pedophile Island” because of his connection to Epstein’s sex trafficking organization. He lived there in a larger house. Virginia Giuffre, the alleged victim, alleges that Prince Andrew, Duke of York, sexually assaulted her in Little St. James (an allegation denied by Buckingham Palace). In 2016, Epstein paid a reported $22.5 million to Great St. James’ nearby, largely undeveloped.
While facing federal child trafficking charges in Florida and New York, he died in a Manhattan cell in 2019. In December 2021, his friend Ghislaine Maxwell, who helped Epstein bought young girls, was found guilty of child trafficking and sentenced to 20 years in prison. .
After the attorney general of the US Virgin Islands filed a lawsuit in 2020, alleging that the territory was duped into giving Epstein’s company, the Southern Trust Company, tax breaks that allowed Epstein to use his abode was there to harass girls and women, Epstein’s estate agreed to pay $105 million for the territory, including a refund of an $80 million tax credit.
Under the settlement, the government of the U.S. Virgin Islands will receive $30 million, or half of the proceeds from the sale of the islands, to fund the provision of consulting and other services. for victims of sexual assault.
Deckoff, who has an estimated net worth of $3 billion, has made a lot of money in private equity. He rose through the ranks at several firms, including Drexel Burnham Lambert, Bear Stearns and Kidder, Peabody & Co., before starting his own in 1995 with Black Diamond Capital. The Stamford, Connecticut-based group currently oversees $9 billion in assets and focuses on high-interest debt, bad debt, corporate restructuring and turnaround.
Deckoff, a native of New York, moved to the US Virgin Islands in 2011. More than $1.2 million of his donations to local charities have gone to private schools and groups environment.
Irma and Maria, two Category 5 storms that devastated the islands in September 2017, are still affecting their recovery. According to a press release issued Wednesday, Deckoff intends to build a “modern, five-star, world-class luxury resort” on the site to promote tourism and economic growth “at the same time.” while respecting and conserving the island’s vital environment.”
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