Overview
In 1991, Leslie Wexner, the founder of L Brands and one of America’s wealthiest retail executives, granted Jeffrey Epstein a power of attorney document that gave Epstein legal authority over Wexner’s financial affairs in sweeping terms. The arrangement — unusual in its breadth and the extraordinary trust it reflected — became central to understanding how Epstein accumulated wealth and influence through his relationship with Wexner.
Terms of the Power of Attorney
The 1991 power of attorney document, which became part of the public record through litigation, authorized Epstein to:
- Manage Wexner’s personal financial holdings
- Buy and sell real estate on Wexner’s behalf
- Hire, fire, and compensate employees
- Sign checks and conduct financial transactions
- Represent Wexner in a wide range of legal and financial matters
The scope of the authority was not limited to specific transactions or accounts but applied broadly to Wexner’s personal financial life. This was not a standard arrangement for a financial advisor; it was a grant of control with few equivalent examples.
What Epstein Did With the Authority
Armed with this authority, Epstein managed Wexner’s personal finances for approximately a decade. He was reportedly involved in the purchase and sale of real estate (including overseeing the acquisition and renovation of Manhattan properties), the management of household staff, and the structuring of Wexner’s philanthropic activity.
The New York mansion at 9 East 71st Street — Epstein’s primary New York residence — was originally purchased by Wexner and subsequently transferred to Epstein. Whether the transfer was a gift, a sale at below-market value, or the result of some other arrangement was disputed and was a focus of later investigation.
Questions About Financial Transfers
Senator Ron Wyden and other congressional investigators raised questions about whether Epstein’s access to Wexner’s assets had enabled Epstein to direct some of those assets to himself in ways that constituted misappropriation. Hoffenberg, Epstein’s early business partner, claimed in the years before his death that Epstein had effectively stolen from Wexner. Wexner stated publicly in 2019 that he believed Epstein had misappropriated funds.
The power of attorney created the legal infrastructure through which any such transfers would have been possible and would have appeared facially authorized.
The Revocation
The power of attorney was eventually revoked, and Wexner ended his relationship with Epstein — reportedly in the early 2000s. By 2019, when the scandal became public, Wexner stated he had cut ties with Epstein years earlier and expressed shock and betrayal.
Sources
Power of attorney document produced in civil litigation; Wexner’s 2019 public letter to Wexner Foundation; congressional questions on Wexner-Epstein finances; reporting by Julie K. Brown and others on the Wexner relationship; Eric Konigsberg’s reporting.