Jeffrey Epstein’s estate is worth over $57 million more than a previous estimate and it’s made over $1 million by selling off some assets including a Bentley worth almost $200,000, according to new court documents filed in the Virgin Islands.
A new estimate values the dead financier’s worth at over $634 million, according to court papers filed in Virgin Islands Superior Court by lawyers of the estate.
Epstein’s estate was originally estimated to be valued at over $577 million around the time of his death, according to documents released with his will at the time.
The estate has made $1 million since then in part after five of his cars were sold off including, a 2018 Bentley worth $195,000, a 2019 Mercedes worth $133,200 and three Chevrolet Suburbans worth $112,000 combined, the court papers say.
The estate also liquidated four bank accounts associated with some of his companies that held over $500,000 in cash, according to the court documents.
The new figures, laid out in a quarterly accounting document, don’t include the value of his art collection, his jewelry, watches and his shares in a company which are all still pending appraisal.
A large part of the increase appears to be because new estimates of his worth at the time of his death are higher than originally thought, while a small increase appears to be due to his estate increasing in value as of the end of 2019, according to the court papers.
New papers were also filed in the probate case in the Virgin Islands by some of Epstein’s victims and the estate lawyers who worry that the Virgin Island Attorney General Denise George’s recent lawsuit against the estate could jeopardize their claims and the establishment of a victim compensation fund since George opposed the fund.
Sean Foster, a lawyer for five sexual assault victims who have sued Epstein’s estate, said in court papers that his clients joining the case, “is the only vehicle available to assure that these victims of Jeffrey Epstein will not suffer detrimental harm by the intervention and objection asserted by the Government.”
Lawyers with the estate said, in court filings, that granting George’s motion “to torpedo” the victims’ fund — called the Voluntary Claims Resolution Program — “will unfortunately accomplish only one thing: it will divest scores of women of their ability to engage in a voluntary, confidential and non-adversarial alternative to litigation to resolve their claims of sexual abuse by Mr. Epstein.”
Last week, George asked to intervene in the estate case because she said she didn’t trust the co-executors Richard Kahn and Darren Indyke to execute the estate fairly as they have a conflict of interest.
The 66-year-old hedge-funder died by suicide in a Lower Manhattan lockup in August as he was awaiting trial on sex trafficking charges.
His estate has since been sued by over two dozen women, in 22 lawsuits, who claim they were sexually abused or raped when they were underage.
A lawyer with the estate and a lawyer for the executors did not immediately return a request for comment. A rep with George’s office also did not immediately return a request for comment.