Emails reveal that Jeffrey Epstein relentlessly pressured billionaire Leon Black to provide substantial financial support to maintain his extravagant lifestyle.
The disgraced financier and convicted sex offender cautioned Black about his financial advisors and referred to his children using derogatory terms, claiming they had created a “really dangerous mess” by attempting to stifle the flow of funds, as reported by the New York Times.
“I never want to have any more uncomfortable money moments with you; I find it very distasteful,” Epstein stated in a November 2, 2015 email addressed to the founder of Apollo Global Management.
“So to be clear, my terms are as follows: I will only work for the usual $40 million per year. It needs to be paid: $25 million upon signing an agreement and $5 million every two months thereafter for six months (i.e., March, May, June). This can begin if I am able in January. I will immediately stop work if the payment is not received,” he detailed in the messages reported by the outlet.
The correspondence exchanged between Epstein and Black during 2015 and 2016 highlights the deep ties of friendship and business that connected the two men.
Leon Black, now 74, had enlisted Epstein’s services as a wealth management consultant, receiving advice on various matters, including taxes and his extensive art collection.
Despite Epstein’s past conviction for molesting a teenage girl in 2004, he was compensated over $150 million by Black during their association.
Initially, Black was Epstein’s main source of income, but by 2016, it became apparent that Black was hesitant to continue funding the relationship, according to the Times.
This concern sparked a series of distraught emails from Epstein through his personal assistant, a back-and-forth that lasted for months.
One email saw Epstein criticize Black’s other financial advisors as being “a waste of money and space,” while in another, he accused them of creating “a really dangerous mess.”
Epstein even launched insults at Black’s children, calling them “retarded” for supposedly mismanaging his estate.
Eventually, after a drawn-out campaign for funds, Epstein made a concession: “Of course, regarding any non-financial issues, I am always there for you and will continue to be the best friend I can be.”
Although the Times did not have access to Black’s responses, it seemed the pressure exerted by Epstein was effective.
Black kept directing millions in fees and loans to Epstein for years until Epstein was arrested in 2019 for his extensive sex trafficking operations.
Following revelations of Black’s longstanding ties to Epstein that began in 1990, he was ousted from Apollo in 2021.
While the Wall Street magnate denied any awareness of Epstein’s criminal undertakings, he faced allegations of having participated in the immoral lifestyle.
One woman accused Black of raping her in Epstein’s residence but later withdrew her case.
Another ex-girlfriend claimed that Black sexually assaulted her, which led him to seek Epstein’s advice on paying her off to hush the allegations, based on court documents and emails reviewed by the Times.
This lawsuit was dismissed since the woman could not continue pursuing the case after receiving $9.5 million from Black under a nondisclosure agreement that followed their six-year relationship.
Black also supposedly transferred large sums to at least three women associated with Epstein without clear justification.
Susan Estrich, Black’s attorney, asserted that all financial transactions between Black and Epstein were solely for legitimate tax and estate planning services, as an independent law firm engaged by Apollo verified.
“Following a thorough investigation over four years ago, the Dechert law firm determined that Mr. Black paid Epstein exclusively for tax and estate planning advice that ultimately saved him and his family billions. To suggest Epstein had any influence over Mr. Black is incorrect and utterly unreasonable. In fact, it was Mr. Black who terminated Epstein’s services due to disruptions and concerns over fee excesses,” Estrich declared in a statement to The Post.
“The Dechert Report also concluded that Mr. Black had no knowledge of Epstein’s criminal actions. Mr. Black has never assaulted a woman, and any insinuation to the contrary is untrue.”
Whit Clay, a spokesperson for Black, reiterated that the billionaire “deeply regrets” ever making payments to Epstein.
