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Davis, a real estate developer who owns Twentieth
Century Fox, and Herb Seigel, a major media investor in
the 1980s. At this point, Epstein was dating Morgan
Fairchild, a television star in the new mega-rich-family
soap operas, Dallas and Falcon Crest.
If the ‘80s were happening pell mell in New York,
they were happening at double time and catch up speed
in London. “I would head to Kennedy and, on the theory
that most important events in one’s life are
serendipitous, I wouldn’t decide where I was going until
I got there.” Thirty-year-old Epstein was living a
Lifestyle of the Rich and Famous (he befriended the
show’s star, Robin Leach), at English shooting parties
and country estates with Saturday night black tie
dinners, where he was meeting the over-the-top families
of Europe.
At the same time, he was developing a perception,
or, at least a market differentiation: the hyper wealthy
had different problems than the very wealthy. Dealing
with a billion dollars was different from dealing with
$100 million. “The traditional wealth service structure,
an accountant, and investment advisor, a personal
lawyer, and an idiot brother-in-law, became hopelessly
outdated as amounts exponentially increased. You can’t
spend a billion dollars, you can just reallocate it to a
different investment class. And you can’t give away a
billion dollars without a vast staff, in effect going into
the business of giving away money, yet another business
you are likely to know little about.”
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