[18][19], In November 2007, Bacon purchased the Trinchera Ranch in Costilla County, Colorado from the Forbes family. Because both of them happen to be billionaires, it is a picturesque driveway, lined by casuarina trees and triple Alexander palms, 200 feet north of a stunning body of water known as Clifton Bay and 100 feet south of an even more stunning vista upon the Atlantic Ocean. 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. But that wasnt why he did it. But in 2010, Nygard received distressing news from the prime ministers office. New York hedge-fund manager Louis Bacon, 61, has filed a $50million defamation suit against Canadian clothing tycoon, Peter Nygard, 71. Both are locked in an eight-year legal war with each other that has turned each mans paradise into hell. A native of North Carolina, Mr. Bacon earned an M.B.A. in Finance from Columbia Business School in New York and holds a Bachelor of Arts degree in American Literature from Middlebury College in Vermont. Getting younger., More than anything, Nygard is proud of his concrete sanctuary, which in 1992 he persuaded the Bahamian government to rename Nygard Cay to coincide with a Lifestyles of the Rich and Famous segment. I will save something on the brokers commission and you are the most interested party. On his TV is a frozen picture of Bacon bearing the words 5 Lies of Bacon. Outside, on his volleyball court, one of several large signs reads, ITS [sic] TIME TO THROW THE TRASH OUT! [11], In May 2011, the High Court in London granted Bacon a court order to obtain information from the Wikimedia Foundation, The Denver Post, and WordPress as to the identities of internet users alleged to have defamed him by their postings. With the government lacking the funds and mandate to conserve American land, a handful of billionaires have filled the void. In this world, you dont disclose a lot, says Ian Levy, who, with his wife, Charlotte, manages the household staff of seven (more when the Bacons are there). In a glass-tower office, framed by views of the Manhattan skyline and the Hudson River, Bacon, 59 years old and sitting tall in a chrome-and-leather chair, is surrounded by trading screens, clocks set to the times of various overseas markets, squash and yachting magazines, model aircraft. The fellowship brings together emerging leaders from government, business, and NGOs who . Ill never have that recipe again. Hes got no idea how much money he put into it the first time. And around it, the adjacent properties are dark., From time to time I see the procession of people coming to his partiesmotorcades full of these attractive girls, says Jean-Charles de Ravenel. Since 1994, he has contributed $175 million to conservationist causes, including funds to prevent Clifton Bay, a coral-lined stretch abutting Lyford Cay, from being developed as a subdivision anchored by a casino. Recently, Mr. Bacon was recognized for his commitment to conservation with several honors, including the Theodore Roosevelt Conservation Partnership (TRCP) Lifetime Conservation Achievement Award, the Audubon Medal, the Chairmans Leadership Award from the National Fish and Wildlife Foundation and theLand Trust Alliance Presidents Awardfrom1,700 land trusts across the country. The Moore Charitable Foundation, founded by lifelong conservationistLouis Baconin 1992, is a family foundation that works to preserve and protect natural resources for future generations. 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. But Nygard got off to a bad start. Nygard says he never tried to join the club, and also denies being a bully, adding, Most of my relationships with the Lyford Cay community were pristine until Louis Bacon came and destroyed many of them. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. Nygard and one of the outsize lion heads at Nygard Cay, 2015. Elena Ambrosiadou, founder of hedge fund, Ikos, owns one of the most luxurious super yachts ever made. Right in Bacons front yard! He had a suction dredge on a floating platform, to move sand onshore, going day and night. Some worried that in rebuilding Nygard Cay he would try to obtain permission to turn the property into a commercial resort or a stem-cell research facility. 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 . It just tore a heart out of me, Nygard says. Louis Bacon, 62, has accused neighbor Peter Nygard, 72, of hiring two hit men to kill him Bacon and his conservation nonprofit have been trying to block Nygard's attempts to expand his 150,000 sq . By Eric. The decision was criticised, as no achievement by Bacon on behalf of Austria was documented. Boats to the island depart from the North Sea Harbor in Southampton. HMCo #583s Gamecock [Game Cock]. Hes a member of the Racquet and Tennis Club and the Union Club of the City of New York. louis bacon Bacon, Louis, banker; born Boston, 1872; son of Francis E., and Louisa (Crowningshield) Bacon; attended St. Paul's School, Concord, N. H., and graduated from Harvard College, A.B. Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400 as of February 2017. Bacons hedge fund is name-checked, too: MOORE CAPITAL MANAGEMENT. What is it that Im working on? In a court filing, he referred to it as a toilet drain., Nygard likes the idea that people think theyre going to a separate island when they go to his place, says Louis Bacon, a titan of New York finance and the neighbor who constructed the strategic no-parking zone. 26 Billionaires edition of Forbes magazine. North Havens John Diat, 59, said that the waters around Robins are famed for their fishing but hes less certain about what might happen on the island itself. The 171,400-acre (694km2) property sold for $175 million. [2][4], While at Columbia, Bacon traded commodities using a low interest loan he had received. But the very fact that area brokers, who make it their business to know the ins and outs of the Hamptons best estates, are foggy on its structures and amenities illustrates just how thick the veil of mystery is surrounding Robins Island. How exactly did the alleged illegal activity go down? Bahamian environmentalists employed by Save the Bays, an organization that Bacon and several other Lyford residents would later set up chiefly to combat Nygard, cite significant damage to the coastline84,000 square meters of the seafloor that Nygards dredging gambit destroyed, according to one study. Mr. Bacon currently serves on the Board of Overseers at Columbia Business School. In addition to his residence on the Upper East Side, he owns a weekend home on Robins Island, off the coast of Southampton, Long Island, where he hosts polo matches and driven-pheasant shoots. Photo by Charles Eshelman/FilmMagic/Getty Images. Louis Moore Bacon is the founder, Chairman and principal investment manager of Moore Capital Management, LP (Moore Capital). [12][13], Legal experts did not believe the order was enforceable in the United States because of its policy related to freedom of speech. [20] In 2010, Bacon purchased the Orton Plantation in North Carolina, which was built in 1735 by an ancestor, Roger Moore, son of James Moore. The latter-day Hatfields and McCoys never did mend their faces, although in the end Bacons foundation is famed in the Bahamas for its work conserving the oceanic white-tip shark, while Nygrds NYC headquarters were raided last year by the FBI before he was formally charged with sex trafficking. Eddie Lampert, Louis Bacon and James Dinan are the latest drop-offs. The Louis and Gabrielle Bacon Environmental Leadership Fellowship is a transformational experience designed to prepare a new generation for environmental leadership. His personal wealth is estimated to be over $1.5 Billion and his hedge fund Moore Capital Management has AUM close to $15 Billion. Initially, the Foundation agreed to give the information to Bacon's solicitors,[14] but later said it would cooperate only with a court order in the U.S., saying "Please note that we do not comply with foreign subpoenas absent an immediate threat to life or limb. Many from Lyford Cay would celebrate their weddings, anniversaries, and other special events at Nygard Cay, or bring their V.I.P. Linney acted alongside Kevin Bacon in Clint Eastwood-directed Mystic River ( 2003). There is a formal process to get into Lyford, says Chris Brady, a lifelong member. Im into a lot of other kind of design, the New York designits more techy, he says. To revist this article, visit My Profile, then View saved stories. And it had mosquitoes. But its almost criminal for him to even be mentioned in the same paragraph as Peter Nygard.. Louis Moore Bacon is a hedge fund manager and philanthropist. He no longer holds his Sunday-night pamper parties, which offered everybody free spa treatments. He dated Anna Nicole Smith for several years. Bacon arrived next door at Point House in 1994. Some things you should know about Nygard: His personal history involves emigrating from Finland to Manitoba with his family when he was eight and living out of a converted coalbin. Hes gone to a black nation that has pretty decent race relations and tried to stir up this racial thing by staging a Klan rally. Nygard says his involvement in the Klan accusations stemmed from a grassroots movement in which locals came to me and asked for my help.. Some people in Lyford refer to Bacons heroism for taking on the neighborhood bully. Im probably the one whos been affected the most, Bacon says, and I have the means to do something about it.. For more than a decade the men battled in courts from London to Los Angeles, exchanging lawsuits over development rights and defamation suits, including accusations of drug trafficking, character assassination and even a soupon of murder. Asked by The Post about the island, both the Sag Harbor harbormaster and a village policeman shrugged. 2023 Cond Nast. He is best known perhaps for his mansion at the exclusive gated community of Lyford Cay in the Bahamas, where he had a vicious, long running and very public feud with neighbor and disgraced fashion mogul Peter Nygrd. The multi-hued structures are festooned with thousands of colored lightbulbs. Now it kind of looks like what the English call a ha-ha: the road drops and it feels more private. (To give Nygard credit, hes industrious, Bacon concedes. Louis Bacon is a conservation philanthropist and the founder and Chairman of Moore Capital Management, LP established in March 1989. But dont worry too much about Bacon: he still has Captain Kidds treasure to fall back on. [7] In 2010, the Denver Post reported that Bacon's net worth of $1.6 billion ranked him as the 238th richest American. In January 2015, he leveled a $100 million defamation complaint against Nygard in New York, where both mens businesses are headquartered. Mar 30, 2011, 6:48 AM. And were talking about a land of eight-figure beachfront properties, where the houses are very close to each otherwhere one mans dining room is only about 200 feet from the others revolving acrylic discotheque floor and the glass walls that enclose it with a steady cascade of water. Its not in keeping with what we do here, but people went out there to look at it. The case was eventually settled. Louis Bacon and New Mexico Senator Martin Heinrich advocate for a new approach to fighting wildfires in the American West. In addition to his work in Colorado, Bacon has helped preserve and protect environmentally sensitive land in New York, North Carolina, and the Bahamas. But unlike his peers, who have built out-of-scale, Bond villain-esque lairs in the Hamptons, South Florida, Beverly Hills or Aspen, Bacon gave his fortress of solitude to the birds. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. He mentions that his assistant is one of my main girlfriends.. A key component of Bacons defamation suit, which his attorney, Orin Snyder, vows will have its day before a jury, is a 1,000-hour cache of footage shot by Nygards personal videographer, Stephen Feralio. He threw a lot of parties and was always doing construction. Ad Choices. one goal in mind--to make it America's next great downhill mecca. Jones and brother Zack, who deployed landed at Soros Fund Management as head trader, threw plenty of business Bacon's way. He is famous in the Bahamas. We went and got a special barge, huge undertaking, he says of importing them, adding that it was the first building he erected. But not all of Bacons land deals work out quite so well. 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. An examination of the most recent short interest data revealed these five Louis Bacon stocks with particularly high short interest, as measured by "days to cover." One of Wall Street's macro-trading legends, Louis Bacon cut his teeth as a commodities and currencies trader, earning big profits in the 1987 crash. Reclusive billionaire Louis Moore Bacon is emerging from the shadows in a southern Colorado showdown over solar-power transmission lines. Best Restaurants in Fort Lauderdale He also owns a grouse moor in Scotland and a hunting lodge in the North of England. While neither the notoriously press-shy Bacon nor his philanthropic Moore Charitable Foundation would comment to The Post, a spokesman did make clear that regular hunting parties and celebrity sightings on Robins Island were no more than idle gossip.The official word about Buffett, for instance, is that no one knows anything about the king of the Parrotheads ever dropping by for a friendly visit. The 289-foot yacht is the largest private sailboat in the world based . The pair live in the Clifton Bay area of the Bahamas. The two men are next-door neighbors in Lyford Cay, a gated community on New Providence, an island in the Bahamas, and for years it had been a peaceful adjacency. 6 He is an art collector. The Longleaf Alliance awarded Louis Bacon with the honor to acknowledge his contributions to forest health and his efforts to restore longleaf pine forests in North Carolina. He reminds me of Hitler., Peter Pinocchio, Bacon calls Nygard in an open letter he published in the Bahamas Tribune, noting his habit of playing footsie with the truth.. Moore Capital still manages internal money and scored 70% returns in 2020 for Bacon and his employees. Earlier this year, he enlisted the help of Sitrick and Company, a Los Angeles P.R. He has never denounced his great-grandfather, Smith says. He sued Bacon over the re-grading project that had created the puddle in the driveway three years earlier and demanded that his neighbor install a security gate where the driveway crosses the property line. Meanwhile, Lyford residents and the L.C.P.O.A. Long before the puddle, Nygard clashed stylistically with much of the Lyford Cay establishment. He was giving himself testosterone shots every other day and made arrangements with a lab to receive regular injections of his own stem cells. His clumsy attempt to clear his name, in a no-holds-barred interview with BBC, Inside Jerry Falwell Jr.s Unlikely Rise and Precipitous Fall at Liberty University. He is the founder of Moore Capital Management LLC and Moore Global Investments. But Nygardwho has estimated that he spends a good 5 percent of his day battling Baconwasnt interested. Louis Bacon is an American investor and hedge fund manager who founded Moore Global Investments in 1989, which is a New York-based hedge fund with a Q4 13F portfolio worth over $5 billion, as. He is the rare wealthy businessman who sees the environment as a battleground, says Robert F. Kennedy Jr., of the Waterkeeper Alliance lobbying group, a favorite charity of Bacons. Hedge fund billionaire Louis Bacon did so at a cost of $400 million--and his privacy. He took steps to sue the Lyford Cay Property Owners Association. Mr. Bacon is also a member of the Board of Trustees of the U.S. In February 2007, the pair married in a civil ceremony in his Manhattan residence. An easement is what the driveways creator, the developer E. P. Taylor, a Canadian brewing tycoon, termed this shared passage when he established Lyford Cay in 1955. Nygard is convinced that Bacon orchestrated all his problems with Lyford Cay and the government. Hedge fund giant Louis Bacon was honored for his land conservation at the star-studded National Audubon Society's gala dinner in New York. He attended Middlebury College in Vermont where he received his BA in American literature, graduating in 1979. (Trust me, its a full-time job.) Bacon is fond of the judicious (and tax-deductible) gambit known as a conservation easement, deploying it, for example, to restore the eastern-mud-turtle population and preserve the habitat of endangered shorebirds on Robins Island. As for his place in Lyford, Point House, you might never guess that the owner is this rich. What Nygard has accused me of is beyond the pale, Bacon says. Nygard and his friends sometimes refer to his estate as Disneyland on steroids. Chichn Ibiza is more like it. Louis Bacon the bilRead More Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West In the main lodge of his Trinchera Blanca ranch in Colorado, Louis Bacon, the founder of the giant hedge fund firm Moore Capital Management, takes in his pristine and wild 172,000-acre tract from a plush leather chair. (The queen was Noor of Jordan.) The Trinchera section of the ranch is currently protected by an easement administered by Colorado Open Lands. Reflects change since 5 pm ET of prior trading day. by Melanie Grace West", "AMERICA'S GREAT OUTDOORS: Salazar, Ashe Announce Historic Conservation Easement in Sangre de Cristo Mountains", "90,000 Colorado acres offered for national protected area", "GARDEN NOTEBOOK;Paradise Returns (With Heliport)", "Cohen, Simons, 12 Others Enter Hedge Fund Hall", "Louis Bacon Receives Audubon Medal for Conservation, Environmental Work", "TRCP TO CELEBRATE THREE EXTRAORDINARY CHAMPIONS OF HABITAT CONSERVATION", "Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West," Forbes, How a Neighbors Feud in Paradise Launched an International Rape Case, https://en.wikipedia.org/w/index.php?title=Louis_Bacon&oldid=1121232736, Episcopal High School (Alexandria, Virginia) alumni, Businesspeople from Raleigh, North Carolina, Short description is different from Wikidata, Wikipedia indefinitely move-protected pages, Creative Commons Attribution-ShareAlike License 3.0. [23] Bacon also served as a fundraiser for American politician Mitt Romney, who was elected governor of Massachusetts and later ran for president. [2], In 2006, Forbes magazine ranked Bacon as the 746th richest person in the world;[3] in 2011 it ranked him as the 736th richest man. In a legal filing, Nygards lawyer characterized them as military-grade speakers that blared dangerous, pain-inducing sound waves toward Mr. Nygards home., It was supposed to create white noise on my side, but that didnt work, Bacon says. He sued a former associate for claiming that Nygard had deliberately hired celebrity lookalikes to attend his Oscar party, according to the lawsuit. The court granted Bacon's application to serve a Norwich Pharmacal Order by email against these websites. They managed an agreement (via their groundskeepers) on choices of island ficus and bougainvillea to plant along the easement. 7 He has owned many yachts, all named Aviva. 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. Robins Island, the private estate of finance billionaire Louis Bacon (inset), could be worth as much as $500 million, local brokers said. In 2014, 103 locals put their names on a complaint against the Bahamian government, demanding that certain procedures be followed in order for Nygard to get legal clearance to rebuild. Two yachts and a private plane; Contributions to Andrew Cuomo: $48,600 Contributions to New Yorkers for a Balanced Albany: $325,000. They approved it by letter and after a while it sort of grandfathers itself in, he says. [37], American hedge fund manager and billionaire, Litigation involving the Wikimedia Foundation Outcomes in favor of the plaintiffs, "Billionaire Louis Bacon battles to protect his ranch from big utilities' solar-power plans", "Louis Bacon Tries to Turn Around Taos Ski Valley", "The 5 Stocks Billionaire Louis Bacon Can't Stop Buying", "US billionaire wins high court order over Wikipedia 'defamation', "U.S. Law Protects Anonymous Speech, Not Billionaires", "Peter Nygard files RICO suit against billionaire Bahamas neighbour", "Meet cash king Louis Bacon: the richest hedge fund manager in London", "Weddings and celebrations - Gabrielle Sacconaghi, Louis Bacon", "Conservationist buys state's biggest ranch", "Tory donor funds British marine reserve", "Million-Dollar Donors in the 2016 Presidential Race", "Board of Overseers: About: Louis Bacon '81", "Non profit news and comments - "Donor of the Day: Helping Protect the Hudson River." People he employed posted an elaborate series of YouTube videos and launched fake news Web siteswith names such as Bahamas Citizen and Bahamas Nationaldevoted to ruining Bacons name. He is the founder and chief executive of Moore Capital Management. Bacon says the description of his great-grandfather as a Klansman was news to him, and adds that all his life hed been taught instead about one ancestor, a Colonel Roger Moore, who stood down an angry mob to protect black prisoners from being lynched during the Wilmington, North Carolina, race riot of 1898. Buffetts representatives did not reply to requests for comment. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. At that time the islands ownership was under dispute it had been under dispute since the Revolutionary War, when it was seized from its Loyalist owner, Parker Wickham, by Patriot members of the Culper Spy Ring. [2], Bacon graduated from Episcopal High School in Alexandria, Virginia. [30], Bacon owns the Trinchera Blanca Ranch located in the San Luis Valley. [2] Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division. Nevertheless, he has fought to have the footage ruled inadmissible. we used to be friendswhat happened? It was smelly. A squadron of peacocks strut on the grounds. Born to wealthy family in North Carolina, Bacon made his bones on Wall Street as an investor and hedge fund manager, starting Moore Global Investments in 1990 with $25,000 of family money and. Coiled stone cobras hiss steam at sunset. In a letter dated July 21, he was called out for the accumulation of land that came via his strategic renovation and was ordered to not only remove the structures hed built on the Crown landhis marina, lagoon, barbecue pit, and volleyball courtbut also reinstate the coastline. Snyder secured the mans testimony and has sought access to the recordings, which he claims show Nygards involvement in the harassment campaigninstructing employees on what he wants their YouTube spots to contain, for instanceas well as Peter Nygards meetings and interactions with Bahamian officials regarding construction at Nygard Cay, and Mr. Nygards donation of money to Bahamian politicians, according to Feralios attorney. Affiliate Partnerships with retailers island, both the Sag Harbor harbormaster and a hunting lodge in Klan... Designits more techy, he has fought to have the footage ruled inadmissible percent of his day Baconwasnt. 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