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. Nygard dispatched workers in the middle of the night to remove the non-locking cast-iron gates from the entrance to Bacons property, to rip up four sets of speed bumps on the portion of the driveway that cut through Bacons land, and to cover the NO TURNAROUND: PRIVATE PROPERTY warning that was painted on the shared road, replacing it with the words NYGARD CAY. [7] In 2010, the Denver Post reported that Bacon's net worth of $1.6 billion ranked him as the 238th richest American. Thanks for contacting us. agencies in clover.In one 2015 suit, Nygard accused Bacon of floating $50,000 worth of cocaine in the waters just off shore The bickering has been so prolific that it produced court actions from New York to London to Los Angeles, where a former Nygard employee was accused of stealing video footage for Bacon's benefit.The litigation took its most recent turn on Nov. 15, when the Bahamas Supreme Court sentenced Nygard, 76, to 90 days in prison and fined him $150,000 over his alleged theft of . Sacconaghi is a Canadian socialite and art adviser. It may be that the only thing Bacon and Nygard have in common, besides a Lyford Cay address, is their joint refusal to ever back down. Bacon took a job on the floor of the New York Cotton Exchange, working as a "runner". Chesapeake Bay Foundation Chairman Harry Lester and philanthropist Louis Bacon say offshore drilling in the Atlantic and related seismic airgun blasting could harm East Coast economies, marine life and our environment. Many from Lyford Cay would celebrate their weddings, anniversaries, and other special events at Nygard Cay, or bring their V.I.P. 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. One side of the environmental clash paints the. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. They divorced in 2002, after having four children together. The houses have names that are playfully colonial: Tra La La, Safari, Tea Time, Out of Bounds. The man has a multi-million-dollar yacht, and his marina was silted up, his lawyer in Nassau, Keod Smith, says. Louis Bacon is one of the most famous traders in the world. Who Is Louis Bacon. The multi-hued structures are festooned with thousands of colored lightbulbs. He also blamed Bacon for an unflattering documentary that ran on the Canadian TV series The Fifth Estate in 2010, titled Peter Nygard: Larger than Life. This page was last edited on 11 November 2022, at 06:41. Billionaire Louis Bacon purchased the soulful New Mexico ski valley with (He bought the entire 445-acre island in 1993 for $11 million.) I never moved here to Nygard Cay because of Lyford Cay. Nygard filed a counterclaim and tells anybody who will listen that Bacon is trying to destroy him out of a simple desire to take over his property, claiming that some years agoNygard cant recall whena real-estate agent came to his house on Bacons behalf and offered $100 million for the place. Louis Moore Bacon is a hedge fund manager and philanthropist. And more! Forbes magazine named Louis Bacon as the 746th . Hes a philosopher, a visionary, a genius. (To give Nygard credit, hes industrious, Bacon concedes. [28][29], In June 2012, United States Secretary of Interior Ken Salazar and United States Fish and Wildlife Service Director Daniel M. Ashe announced Bacon intends to donate a conservation easement totaling approximately 90,000 acres in the Sangre de Cristo Mountains bordering the San Luis Valley in Colorado. [12][13], Legal experts did not believe the order was enforceable in the United States because of its policy related to freedom of speech. Every Finn starts with the saunas.. 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. After a few years he stopped paying dues. Best Restaurants in Fort Lauderdale You have to take off your top if we go, he jokes with one of the ladies, flipping his hands upward from his shoulders to pantomime. Forbes once summed up his investment strategy as secretive, risk-conscious, a bit paranoid. If, on a lark, he were persuaded to read for a movie part calling for a handsome Wall Street kingpin type, hed probably be turned down because the fit seems too perfect to be credible: sculpted mandible, enviably tousled locks. He paid $5.9 million, then over the next 15 years purchased two adjoining pieces of land for an additional $20 million. and crisis-response firm that, in addition to many less controversial clients, has represented the Church of Scientology and Jeffrey Epstein, the New York financier imprisoned in 2008 for soliciting under-age prostitutes. (The queen was Noor of Jordan.) [16] Nygrd and Bacon had been previously engaged in a protracted legal dispute over two adjacent properties they own in the Bahamas. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP ("Moore Capital"). Nygard kept going. I had to move the business as a fiduciary. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. At 24 he purchased a share in a clothing-manufacturing company with an $8,000 loan, and before long renamed it Nygard. [26], In 1992, Bacon created The Moore Charitable Foundation (MCF) to provide financial support to nonprofit organizations that work to preserve and protect wildlife habitat and improve water systems. Even the Levys uniforms are low-key: matching polo shirts with the Point House logo, a simple childs drawing of a cottage. According to the Moore Charitable Foundations website, the conservation philanthropist has protected more than 214,000 acres of land in perpetuity across the United States, including granting conservation easements in his home state of North Carolina (to protect the Cape Fear river watershed), Wyoming and Colorado. For a 27-year-old, Bacon deployed a powerful Rolodex. The objections to offshore drilling are economic, environmental and bipartisan. [2][3] Bacon met Walter Frank while he was working on a fishing boat on Long Island. He is the founder of Moore Capital Management, one of the leading investment firms in the trading industry. At 74, with his long white hair and vigorously spread family tree (he has had eight children with five women), Nygard is something like the Hugh Hefner of down-market retail. Nygard says he plans to appeal. Moore Capital Management LLC, the $15 billion hedge fund run by Louis Moore Bacon, cut 10 to 15 investment jobs as it restructures one of its equity teams, according to three people with knowledge . Its not in keeping with what we do here, but people went out there to look at it. Early residents included Henry Ford II, Aga Khan IV, Prince Rainier III of Monaco, Huntington Hartford II, Babe Paley, and certainly the most beautiful women and some of the most powerful men in the world, Town & Country reported in 1975, marveling at how the private telephone directory for 120 villas listed Heinz and Menzies, Goulandris and Niarchos, McMahon and Mellon. The piece was accompanied by a lavish Slim Aarons photo spread. Bacon is a well-known American investor, hedge fund manager, and philanthropist. In August 2010, just after the police raid, Nygard wrote to Bacon in an e-mail, LouisAre you sure its worth it to escalate this Bahamas scrimmage? 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. [36] In 2016, Bacon received a Theodore Roosevelt Conservation Partnership's Lifetime Conservation Achievement Award for authorizing conservation easements on more than 210,600 acres in the US. [14], In early 2019, it was reported that Peter Nygrd had filed a complaint with the U.S. Federal Court in Manhattan alleging that Bacon had violated sections of the Racketeer Influenced and Corrupt Organizations Act. Its a better entrance for his guests and better for me too.. They approved it by letter and after a while it sort of grandfathers itself in, he says. It would mean returning all that sand to the Bahamas rightful seabed, shrinking his property back down to its original dimensions. [3], In December 2013, Bacon purchased Taos Ski Valley from the Blake family, who had owned it since 1954. 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. How exactly did the alleged illegal activity go down? Of course he does. By Eric. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. He is known for his business prowess, his charitable works, and his wealth. Nygard and his friends sometimes refer to his estate as Disneyland on steroids. Chichn Ibiza is more like it. Hes struggling to get approval to rebuild from the Bahamian government but may want the next iteration to resemble a spaceship. The decision was criticised, as no achievement by Bacon on behalf of Austria was documented. In court documents, Nygard called the reporting false and asserted that the most damning accusers had been paid off by Bacon, who calls Nygards suspicions baseless., In the summer of 2010, 11 armed Bahamian police officers conducted a raid on Point House, during which Bacons staff were searched and interrogated and his possessionsincluding pictures of his childrenwere photographed. 6 He is an art collector. Donald Trump to Evangelicals: You Cant Break Up With Me Because Im Breaking Up With You First, Reality Is Submerged in Fantasy: The Villages Is a Boomers UtopiaAnd Demographic Time Bomb, All the Ways Donald Trump Will Probably Handle Ron DeSantis in 2024, Inside Wealth-Conference Con Man Anthony Ritossas Wild Web of Lies, How Screwed Are Donald Trump and His Adult Children, and Other Questions You Might Have About the Staggering Fraud Lawsuit Against Them. Nygard is convinced that Bacon orchestrated all his problems with Lyford Cay and the government. He is the chief executive and founder of Moore Capital Management. From college to career, Bacon founded Moore Capital Management and The Moore Charitable Foundation, making smart investments in financial markets and the environment. His Colorado donation of 167,000 acres on the Trinchera Blanca Ranch to the US Fish and Wildlife Service was the largest it ever received. Youve probably never heard of Robins Island, a teardrop-shaped islet half the size of Central Park in the Great Peconic Bay on the East End of Long Island. 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. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. It gives you a certain sense of purpose that, I guess, girds you to continue. 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. He started casing the joint, looking at it as a place to buy, and did nothing. His response isnt emotional, Ian Levy says. In 2005, Nygard addressed his parking-overflow problem by laying down a 15-by-20-foot concrete slabon Bacons side of the property line.
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