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SCHMITKA 8 } LISA HINGE BY ALBERTO PINTO TTOM personality Donald Trump—sometimes seem not all that clear as to what he ac- tually does to earn his millions. Certainly, you won't find Epstein’s transactions writ- ten about on Bloomberg or talked about in the trading rooms. “The trading desks don’t seem to know him. It’s unusual for animals that big not to leave any footprints in the snow,” says a high-level investment manager. Unlike such fund managers as George Soros and Stanley Druckenmiller, whose client lists and stock maneuverings act as their calling cards, Epstein keeps all his deals and clients secret, bar one client: bil- lionaire Leslie Wexner, the respected chair- man of Limited Brands. Epstein insists that ever since he left Bear Stearns in 1981 he has managed money only for billionaires— who depend on him for discretion. “I was the only person crazy enough, or arrogant enough. or misplaced enough, to make my limit a bil- lion dollars or more,” he tells peo- ple freely. According to him, the flat fees he receives from his clients. combined with his skill at playing iia the currency markets “with very large sums of money,” have afforded him the lifestyle he enjoys today. Why do billionaires choose him as their trustee? Because the prob- lems of the mega-rich. he tells peo- ple. are different from yours and mine. and his unique philosophy is central to understanding those problems: “Verv few people need any more money when they have a billion dollars. The key is not to have it do harm more than any- thing else.... You don’t want to lose your money.” e has likened his job to that of an architect—more specifically, one who spe- cializes in remodeling: “I always describe [a billion- aire] as someone who started out in a small home and as he became wealthier had add- ons. He added on another addition, he built a room over the garage ... until you have a house that is usually a mess. ... It’s a large house that has been put together over time where no one could foretell the financial fu- ture and their accompanying needs.” He makes it sound as though his job combines the roles of real-estate agent, ac- countant, lawyer, money manager, trustee, and confidant. But, as with Jay Gatsby, myths and rumor swirl around Epstein. Here are some of the hard facts about Epstein—ones that he doesn’t mind people knowing: _He-gréw-up- middle-class in Brooklyn. His father worked for the citv’s mance REY “You think you know him and then you ; parks department. His parents viewed educa- tion as “the way out” tor him and his voung- er brother. Mark. now working in real estate. Jetfrey started to play the piano—for which he maintains a passion—at five, and he went to Brooklyn's Lafayette High School. He was good at mathematics, and in his early 20s he got a job teaching physics and math at Dalton. the elite Manhattan pri- vate school. While there he began tutoring the son of Bear Stearns chairman Ace Greenberg and was friendly with a daugh- ter of Greenberg's. Soon he went to Bear Stearns, where. under the mentorship of both Greenberg and current Bear Stearns C.E.O. James Cayne,. he did well enough to become a limited partner—a rung be- neath full partner. He abruptly departed in 1981 because. he has said, he wanted to run his own business. Thereafter the details recede into shad- ow. A few of the handful of current friends who have known him since the early 1980s recall that he used to tell them he was a Page 33 of 151 UNREAL ESTATE From tap: the “leather room” where to guests: Epstein at his Zorro ranch in 1991 with his “best friend.” Ghislaine Maxwell: Epstein in 1979. in Epstein’s house. “tea” is served “bounty hunter.” recov- ering lost or stolen mon- ey for the government or for very rich people. He has a license to carry a firearm. For the last 15 years, he’s been running his business, J. Epstein & Co. Since Leslie Wexner appeared in his life—Epstein has said this was in 1986: others say it was in 1989, at the earliest— he has gradually, in a way that has not generally mac headlines, come to be ac- cepted by the Establishment. He’s a mem- ber of various commissions and councils: he is on the Trilateral Commission, the Council on Foreign Relations, the New York Academy of Sciences, and the Insti- tute of International Education. His current fan club extends to Cayne, Henry Rosovsky, the former dean of Har- vard’s Faculty of Arts and Sciences, and Public Records Request.No.:,17-295 303 - 1 ee DOJ-OGR- 00032072