Epstein's Role in $25 Million Art Deal Between Billionaires Lauder and Black Revealed
Newly released emails from the Department of Justice have uncovered that convicted sex offender Jeffrey Epstein coordinated the creation of a legal vehicle in 2014, enabling billionaire financiers Ronald Lauder and Leon Black to share ownership of a $25 million painting. This revelation provides fresh insight into the extensive network of wealth and power that Epstein cultivated throughout his life.
Connections to Estee Lauder Heir and Apollo CEO
While Leon Black's association with Epstein has been publicly documented for years, the trove of emails released last week exposes Epstein's previously undisclosed connection to Ronald Lauder—an heir to the Estee Lauder cosmetics empire, prominent art collector, and major donor to former President Donald Trump. The emails show that members of Lauder's and Epstein's staffs arranged lunches for the two men at Epstein's Upper East Side residence on two occasions in 2017, long after numerous other prominent individuals and institutions had severed ties with him.
Epstein pleaded guilty in 2008 to solicitation of prostitution with a minor. The heavily redacted DOJ files contain no direct correspondence between Epstein and Lauder, and they do not suggest Lauder had involvement with Epstein beyond limited business, social, and philanthropic engagements. Lauder has not been accused of any wrongdoing related to Epstein or his crimes.
The "Friends Ventures" Art Ownership Agreement
Leon Black, who served as CEO of Apollo Global Management Inc. until 2021, frequently paid Epstein for estate planning and tax advice. As part of managing Black's financial interests, Epstein established an LLC in 2014 specifically for Black and Lauder to jointly own "Ja - Was? - Bild," a mixed-media work by German collagist Kurt Schwitters valued at $25 million.
This legal vehicle, named "Friends Ventures," stipulated that each billionaire would possess the artwork for two-and-a-half years at a time, with an option to purchase the other's stake if one of them died. A spokesman for Lauder did not provide comment in response to calls and emails seeking one, while a Black representative declined to comment.
Continued Pursuit of Meetings and Broader Connections
In 2017, Epstein actively pursued meetings and phone calls with Lauder to assist Bill Gates in raising funds for health initiatives and to position himself as a middleman in emerging Middle East conflicts. Emails reveal staffers coordinated a lunch at Epstein's residence on February 24, 2017, that included Nobel Prize-winning scientist James Watson.
Follow-up messages three days later attempted to schedule future gatherings, with Epstein's assistant writing: "Jeffrey says Ronald had offered to host him and Jim Watson the weekend of March 11th. But Jeffrey is wondering if it might be possible to have Ronald give them a tour of the gallery instead the week of March 13th."
The Lauder staffer responded that the week of March 13th should be fine and inquired about preferred dates and times, adding: "Ronald is asking if Jeffrey has a direct number he can call him on." Although staffers exchanged emails about scheduling the gallery tour for several months in 2017, there is no indication it actually took place. They did coordinate another lunch for the two men on August 17, 2017.
Requests for Personal Financial Documents
Four days after the August lunch, Epstein's assistant emailed Lauder's assistant stating that Epstein wanted to review Lauder's tax returns and will to "give him the best guidance" on an unspecified matter. Lauder's assistant replied that she had passed along the request, but subsequent emails show no further development on this front.
Epstein's assistant continued attempting to arrange meetings between Epstein and Lauder afterward without success. The files contain no record of contact between the two men or their staffers after January 2018.
Political Connections and Additional Names in Emails
In recent years, Ronald Lauder has become a generous donor to Donald Trump and MAGA causes, contributing $1 million to Trump's second inauguration and $5 million to MAGA Inc., Trump's super political action committee. Lauder's son-in-law, Kevin Warsh—who was nominated last week to lead the Federal Reserve—appears twice in the Epstein emails on lists of invitees to events shared with Epstein by organizers.
There is no suggestion that Warsh attended those events, and he has not been accused of any wrongdoing. A spokeswoman for Warsh did not respond to requests for comment for this article. The released emails continue to shed light on the complex web of relationships Epstein maintained with some of the world's wealthiest and most influential individuals.
