What Nygard has accused me of is beyond the pale, Bacon says. A lot of us in the old line viewed him as a curiosity. Louis Moore Bacon is a hedge fund manager and philanthropist. Nygard designed and constructed the compound himself over more than two decades. [24] In 2015, Bacon donated $1 million to a Super PAC supporting the presidential candidacy of Jeb Bush. ), even though his lots location at the tip of the peninsula meant that it was not deeded within the L.C.P.O.A. The hedge fund he owns and runs has some $15 billion under management, and his estimated net worth is $1.75 billion. Its a better entrance for his guests and better for me too.. Im one of them., So was the first President Bush, who struck up a friendship with Nygard after Nicholas Brady took him to Nygard Cay once to marvel at the place. Nygard and one of the outsize lion heads at Nygard Cay, 2015. He is the founder of Moore Capital Management LLC and Moore Global Investments. 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. As a former yacht captain, if I am sailing and my owner decides to cross with another boat, the other captain and I wont even refer to our boats owners by name. 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. The dip created a drainage problem when it rained: the puddling. My wife called him, and he came over to our house. Soon afterward, Bacon pulled his three youngest children out of school in Lyford Cay and requested that the 70-person offshore advisement desk that handles his client records be moved out of the Bahamas. After a few years he stopped paying dues. 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. Its blood sport to him. He acknowledges that he feels something similar, with no intention of raising the white flag. had been lodging complaints with the government for years, even compiling aerial photographs that documented the expanding dimensions of Nygards coastline thanks to a series of underwater, sand-collecting barrierscalled groinsthat jut out from the shoreline. It gives you a certain sense of purpose that, I guess, girds you to continue. The 289-foot yacht is the largest private sailboat in the world based . They did of course warn me about my neighbor, but thats probably why the price was right, Bacon says. 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! Nygard, the suit alleges, has been the ringleader behind a vast multi-media smear campaignTV and radio ads purchased, Web sites created, videos doctored, T-shirts printed, and even hate rallies staged with parades through Nassauall in the name of labeling Bacon a racist, a thief, and a terrorist, and bearing messages such as BACON GO HOME. Ive been very supportive. Besides, hes not afraid of a $100 million defamation suit because, as I understand it, the biggest award ever given in New York is for one million, he says. I lost that recipe. [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. Where Nygard has made a visible mark on the cay with his estate, Bacon wants his country houses known for how meticulously they fit into their surroundings. Giant urns belch smoke like volcanoes. Home of a champion: Inside the mansion of Bucks star Giann Todd Chrisley serving his time in one of America's cushiest prisons, John Leguizamo buys daughter a co-op on same NYC block as family house, Embattled kicker bought Neb. Bacon, who founded Moore Capital in 1989 with a $25,000 inheritance. Moore Capital Management; Gary Gershoff/WireImage, 2023 NYP Holdings, Inc. All Rights Reserved, Reporterdishes on his unique access to Ponzi schemer Bernie Madoff, Yellowstone-inspired ranch in the Hamptons goes up for rent, Alec and Hilaria Baldwin shave $4M off Hamptons farmhouse, Hugh Jackman puts his dream minimalist Hamptons home up for rent. Sacconaghi is a Canadian socialite and art adviser. 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. It was horrible squawking sounds that would drive you out of your mind, says Eric Gibson, Nygards former property manager. In February 2007, the pair married in a civil ceremony in his Manhattan residence. 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. Louis Bacon's House - Virtual Globetrotting West Harbour, New Providence (aka Nassau So, after vacationing with his family on North Island in Seychelles, he bought it for a whopping $35 million. Bacon hasnt set foot in the Bahamas in more than a year, claiming it would put his personal safety at risk. Its not in keeping with what we do here, but people went out there to look at it. Even as its distasteful. Nygard believes Bacon has a nasty habit of accusing other people of what he is guilty of himself., Bacon says Nygard Cay is nothing more than eye pollution.. I have my own life, you know? For better or worse, says Bill Hunter, a former Lyford Cay Club chairman, when you look toward Nygards place at night from across the bay, its like a cruise ship, all the lights and torches blazing. Bacon is a well-known American investor, hedge fund manager, and philanthropist. 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. Lyford Cay was designed as a gated winter community, the brainchild of the aforementioned E. P. Taylor and Sir Harold Christie, a scion of the Bahamian family that owned the original 3,000-acre plot at the western tip of New Providence. With accusations of murder plots, assaults, fire bombings and racially-fueled smear campaigns, the feud between hedge fund billionaire Louis Bacon and clothing tycoon Peter Nygard has escalated to a new level. We hired a sound consultant in the U.K. to see if we could somehow muffle the sound from Nygards by emitting a counter-sound, but that proved terribly complicated, so we went and got four huge rock-concert speakers to play something loud in response, Bacons architect, Peter Talty, says. But dont worry too much about Bacon: he still has Captain Kidds treasure to fall back on. 26 Billionaires edition of Forbes magazine. They approved it by letter and after a while it sort of grandfathers itself in, he says. I helped to save his life, Nygard says of the time Bacon and his property manager got marooned during a fishing expedition. The Louis and Gabrielle Bacon Environmental Leadership Fellowship is a transformational experience designed to prepare a new generation for environmental leadership. The multi-hued structures are festooned with thousands of colored lightbulbs. I was part of his search committee. Bacon relates the same incident, though he says that Nygard was most ungallant. 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. Bacon and Nygards neighbors prefer to keep a low profile: Count and Countess de Ravenel, of France; the Brazilian re-insurance magnate Antonio Braga; Jane Lewis, wife of the English investor Joe Lewis. Its quiet money, says David Laughlin, a New York financier (second-generation Lyford) and chairman of the Lyford Cay Club. But Bacon, they insist, has never lost his cool. These things cant go unanswered. 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. 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. Mr. Bacon is also the Founder and Co-Chair of The Moore Charitable Foundation, Inc. (Foundation). It just screamed resolution, one of their lawyers says. The new conservation easement Bacon intends to donate is to protect Blanca thus protecting all 172,000 acres of land.[31]. Thats kind of funny when you think about it, particularly since his name is Bacon.. 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. [3], In December 2013, Bacon purchased Taos Ski Valley from the Blake family, who had owned it since 1954. And it helps if you buy an expensive piece of land and you keep your bad behavior on the down low. [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. Dealing with Nygard, he says, is like having dog shit on your shoe. (Nygards riposte: I recommend that he change his shoes.), He is short on dialogue: he has little to say that his lawyers cant say for him, because hes doing his best to appear aloof, as if to assert that the feud has failed to get the better of him. 2023 Cond Nast. Buffetts representatives did not reply to requests for comment. Coiled stone cobras hiss steam at sunset. 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. I moved to Nygard Cay because its the most beautiful property in the world, and it happened to be that to get to it I had to go through Lyford Cay., The Lyford Cay Cluba golf-and-tennis facility with a majestically frayed pink clubhouseis the social hub of the community, and according to members, Nygard was discouraged from applying by people who broached the matter on his behalf with the membership committee. This metric is just one way to look at short data, but this is a metric we here at Holdings Channel find particularly useful [], Updated with extended comment from Peter Nygard's spokesperson. Nygard has filed multiple lawsuits, and the CBC has removed the piece from the Internet. [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. 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. He is the founder and chief executive of Moore Capital Management. He was a bit of a headache, but it was largely cordial at first. Nygard says he and Baconan odd couple if ever there was oneinvited each other for drinks at their homes. 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. Ad Choices. That was settled two years ago, a rare moment of dtente that could have opened the way to broader peace talks. A battle between hedge-fund billionaire Louis Bacon and a Canadian clothing magnate spills into New York court. During the first three semesters, he lost money and was forced to borrow money from his father to pay for necessities. [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. I would tell him what happened, and he said, Take photographs and refer it to the legal department. He responds to Peter Nygard as a problem that needs to be taken care of., Until he filed his defamation suit, this year, Bacon fought Nygard mostly under the auspices of an environmental campaign, joined by many Lyford residents, that sought to rectify changes to the coastline they claim Nygard is responsible for. Click here for a larger version of our map of billionaire/celebrity networks. Theyre not parties the typical Lyford Cay family is having with their grandchildren. Louis Bacon is a buttoned-up hedge-fund king, whose passion is conservation. Bacon took a job on the floor of the New York Cotton Exchange, working as a "runner". The Klan characterizations were especially incendiary because of the Bahamas history as a hub of the American slave trade. Its simply your owner and my owner. Even so, he does acknowledge that a sitting queen and a former king have been guests of the Bacons. Moore Capital's Louis Bacon is running out of ideas amid a volatile macro-economic environment. Satellite images reveal two large estate homes on the island, what appears to be a caretakers home, a tennis court, a dock and thick woodlands. He always said he would never be done., Nygard initially joined the Lyford Cay Property Owners Association (L.C.P.O.A. Hedge fund giant Louis Bacon was honored for his land conservation at the star-studded National Audubon Society's gala dinner in New York. Aestheticallyshirt unbuttoned to the navel, tight black jeans, and some sort of glitter he applies to his suntanned arms after showeringhe brings to mind a mash-up of Sam Walton and Gunther Gebel-Williams, the circus-animal trainer. Louis funded our litigation against the factory-farm industry while he was constantly running into the head of Smithfield in his elevator, because they lived in the same building on Park Avenue, Kennedy says. On another is Bacons face with the word CRIMINAL stamped over his forehead. Years earlier, Nygard had obtained a government permit to redirect the sand. People were worried about the security of our investors information.. Then a sex scandal rocked his marriage and ended his lucrative stewardship of the evangelical education empire founded by his father. Yesterday, Moore Capital boss Louis Baconalong with four other plaintiffs--filed a suit in []. It was Bacon's second marriage. To the extent you have used me as a straw man in your fights, you will need to find someone else now. In another e-mail Bacon offered to sell it to him at a discount, below the asking price of $35 million. Eddie Lampert, Louis Bacon and James Dinan are the latest drop-offs. Media mogul Ted Turner and Louis Bacon both own ranches in the San Luis Valley, which straddles the border . He paid $5.9 million, then over the next 15 years purchased two adjoining pieces of land for an additional $20 million. We've received your submission. The battle between hedge-fund billionaire Louis Bacon and clothing magnate Peter Nygrd escalates with accusations in a New York court. The Foundation and its affiliates support non-profit organizations that work to protect land, habitat, and water resources in specific geographic priority areas including Southern Colorado, Northern New Mexico, Long Island, Eastern North Carolina, The Bahamas, and Panama. The Levys have witnessed the feud up close and speak about their neighbor with contempt. Oceana CEO Andrew Sharpless and Louis Bacon say that Congress needs to approve The Shark Fin Sales Elimination Act to completely ban the trade of shark fins in the United States. Legendary trader Louis Bacon told his investors on Thursday that he would be closing his big multi-manager hedge funds, another signal of the increasing difficulty traders are having making. Meanwhile, Lyford residents and the L.C.P.O.A. In 1962, when President Kennedy flew to Nassau for a series of private world-ranging talks with the British prime minister Harold Macmillan, he stayed at Taylors house and the P.M. stayed next door. 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. I had to move the business as a fiduciary. [5], In 2007, he married Gabrielle Sacconaghi in Manhattan. 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. A part of the collection travels with him at his yacht. But it may very well be the most valuable private estate in all of the Hamptons and the most untouchable. Nygard and his friends sometimes refer to his estate as Disneyland on steroids. Chichn Ibiza is more like it. Define "Right Sidebebar Menu" from Menu Locations, The Suffolk Times recounts the history of Robins Island and Louis Bacon's work to preserve the jewel of the Peconic.. This page was last edited on 11 November 2022, at 06:41. Bacon, who attended college at Middlebury in Vermont, has a long history of involvement in conservation efforts []. He sued the government. 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