Short Answer
Wexner has said he trusted Epstein because Epstein presented himself as a uniquely skilled financial advisor and cultivated deep personal rapport over time. Wexner later said he was “victimized” and that Epstein misappropriated over $46 million, but the full scope of the relationship — and why Wexner granted such sweeping authority — remains incompletely understood.
In Detail
The Epstein-Wexner relationship stands as one of the most financially consequential and puzzling personal relationships in the case. Leslie Wexner, the founder of The Limited (later L Brands), was by the late 1980s one of the wealthiest men in America. How a high-school teacher turned secretive financier came to hold power of attorney over his personal and business affairs is a question that has never been fully answered in public proceedings.
How They Met
Epstein and Wexner reportedly met through mutual contacts in philanthropic and social circles in the mid-1980s. Epstein positioned himself as an expert in the financial management of large personal fortunes — specifically in protecting wealth from taxation and managing complex multi-entity structures. Wexner, who was focused on his retail empire rather than personal finance, reportedly found this pitch compelling.
The Power of Attorney
By 1987, Epstein held a power of attorney from Wexner that documents show was extraordinarily broad: it gave Epstein the authority to manage Wexner’s personal finances, make investments, hire and fire employees in Wexner’s household, and execute real estate transactions. Under this authority, Epstein:
- Received or facilitated the transfer of Wexner’s Manhattan townhouse (the largest private residence in New York City) to himself, apparently for $0
- Managed Wexner’s Virgin Islands properties, later transferred to Epstein
- Control financial accounts worth hundreds of millions of dollars
Wexner’s Explanation
In a 2019 letter to the Wexner Foundation board, Wexner wrote that he felt he had been “deceived and manipulated” by Epstein and that Epstein had “misappropriated vast sums of money.” He estimated over $46 million was taken. He said he severed ties with Epstein around 2007.
What Remains Unanswered
Why Wexner granted authority this broad, and whether transfers to Epstein were entirely unwillingly made, has never been fully resolved through testimony under oath.