The Epstein Monologues

Leon Black
Epstein’s correspondence with Leon Black, pictured, doesn’t exactly conjure up the financial genius that he claimed to be: Rather, it reveals him to be little more than the Coney Island hustler who knew how to ingratiate himself into the lives of the very rich. Photo: Neil Rasmus/BFA.com
William D. Cohan
December 3, 2025

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Amid the 20,000-page trove of Jeffrey Epstein–related documents released by the House Oversight Committee last month were two dozen or so emails, from 2015 and 2016, from the disgraced, late pedophile and federally indicted sex trafficker to billionaire Apollo founder Leon Black. You will recall that Leon’s charmed Wall Street career was essentially derailed by his seemingly inexplicable friendship with Epstein—a former Dalton math teacher and Bear Stearns trader whom Leon turned to for help in trying to solve some thorny personal trust and estate issues. As Leon told me last year, Epstein’s advice helped save him some $2 billion, so he felt comfortable paying Epstein $158 million for all that hard work. The fees paid to Epstein—later verified by Dechert, the independent law firm hired, at Leon’s suggestion, by a special committee of the Apollo board of directors to investigate his involvement with Epstein—was an awful lot to pay for tax and estate advice, of course, and many people on Wall Street had trouble digesting the amount.