Billionaire Stephen Deckoff Buys Jeffrey Epstein's Notorious Private Islands For $60 Million

By on May 9, 2023 in ArticlesBillionaire News

After being in limbo since Jeffrey Epstein's death in the summer of 2019, the notorious financier and sex trafficker's pair of private islands located in the US Virgin Islands, Little St. James and Great St. James, have been purchased by a private equity firm headed up by billionaire Stephen Deckoff, according to a CNBC report.

Deckoff paid $60 million for both the islands, less than half that of the $125 million what they were initially listed for. Obviously, Deckoff was able to get the islands at a steal thanks to their radioactively toxic public reputation, but according to a press release announcing the acquisition, he plans to rehabilitate them for tourism purposes:

"Mr. Deckoff plans to develop a state-of-the-art, five-star, world-class luxury 25-room resort that will help bolster tourism, create jobs, and spur economic development in the region, while respecting and preserving the important environment of the islands."

Jeffrey Epstein's Islands

REUTERS/Marco Bello /via Alamy

The sale comes after Epstein's estate has agreed in court to pay more than $105 million to settle the various sex trafficking and child exploitation claims against it. As part of that deal closed in November of last year, the estate is required to half of the proceeds from the sale to victims, and another $450,000 to pay for damage Epstein reportedly did to Great St. James, tearing down historically significant structures for his own development plans.

Deckoff himself is quoted in the press release on why he bought the islands:

"I've been proud to call the U.S. Virgin Islands home for more than a decade and am tremendously pleased to be able to bring the area a world-class destination befitting its natural grace and beauty. There is simply no place in the world as special as the U.S. Virgin Islands and I am humbled by the opportunity to share its splendor with visitors in a manner that will provide economic benefits to the region while respecting its culture, history and natural beauty. I very much look forward to working with the U.S. Virgin Islands to make this dream a reality."

But speaking to CNBC, he gave "no comment" on the sale.

Time will tell whether Little St. James and Great St. James will be able to shed their infamy and become tropical vacation paradises once more, but you can take a look at the former island in the meantime in the video below from IrixGuy's Adventure Channel on YouTube:

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