The shares hit a high of nearly $100 in 2016.Īuthor James Patterson says "nobody knows" where Jeffrey Epstein's money came from 10:35Įpstein has said he started working for Wexner in 1986, a few years after he left a trader job at Wall Street's legendary Bear Stearns. The company's shares traded for as low as $6 on a split-adjusted basis in the mid-1980s, which is when Epstein began working with Wexner. Wexner himself is worth $6.6 billion, according to Bloomberg, and much of it comes from his 17% stake in L Brands. His long-time association with Wexner, though, appears to be a major source of any wealth he has. While Epstein has been described as a billionaire during his many years in the limelight, it's not clear how he made his fortune, or if it actually reaches into the 10 figures. I am proud that our company has long-held core values – those values have never been more important than today, and I ask that we all wave them higher now than ever before." And we don't know what twists and turns these events will take … but I can assure you that I will continue to act in the company's best interest as this unfolds, and I ask you to do the same. I fully expect that this will remain in the news for some time to come. Epstein will receive significant news coverage. Wexner continued: "We all know that what is being reported about Mr.
But let me assure you that I was NEVER aware of the illegal activity charged in the indictment." Epstein was my personal money manager, he was involved in many aspects of my financial life. "As you can imagine, this past week I have searched my soul … reflected … and regretted that my path ever crossed his," Wexner said in the statement to employees.
He reportedly transferred the home in 2011 to Epstein, his onetime financial adviser, in a complex transaction valued at $20 million, according to the New York Times. L Brands shares are down 10% this week, to around $25, near the lowest they've been since 2010, after news accounts detailed the decades-old dealings between Epstein and L Brands CEO Les Wexner, the 81-year-old corporate legend who built his family's single clothing store outside Columbus, Ohio, into a global retail empire.Įpstein's New York City mansion, where prosecutors say they found a trove of naked pictures of underage girls last weekend, was once owned by Wexner. But its corporate parent's connections to Jeffrey Epstein, the financier arrested and charged Monday with the sex trafficking of underage girls, could further sink the fortunes of the ailing lingerie retailer, damaging a brand that already had seemed out of touch in the #MeToo era. Victoria's Secret has long lived by the business mantra sex sells. Jax made it clear she isn't trying to "take down a brand." The singer also said she was not comfortable "being the face of a company's 'We've changed' ad." Instead, she urged her followers to continue voicing their opinions about Victoria's Secret and what they want to see from the brand in the comments section.Indictment claims Jeffrey Epstein knew girls he abused were as young as 14 03:55 So my goal was to make sure her and her friends don't go through the same thing that I went through," Jax shared. And that's when I started developing eating disorders and body dysmorphia. "It was a personal song for me because when I was her age I compared my body to the one body type companies like Victoria's Secret strategically advertised. The singer explained the song was initially written for a child she used to babysit. Meanwhile, Jax responded to Hauk's letter on TikTok. Today, we are proud to be a different company, with a new leadership team and mission to welcome, celebrate and champion all women.”
"We know the old VS lost touch with many people, projected a damaging standard of beauty, and perpetuated a toxic culture.
A representative for Victoria's Secret shared a similar message in a statement to The Business Journals.
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