What to Watch for
Black is legally required to turn over his NDAs to the House Oversight Committee by next week, the committee confirmed Friday. He will also sit for another interview with the committee on Sept. 3, after an initial July date for the testimony got postponed. While his June interview was voluntary, meaning he wasn’t under any legal obligation to answer questions, this one will be under subpoena and thus have stricter rules.
Read more Taylor Farms Recalls Iceberg Lettuce Traced To Farm In Mexico Amid Cyclosporiasis Outbreak
Forbes Valuation
Forbes values Black’s net worth at $13 billion as of Friday afternoon.
Surprising Fact
Black insisted he was not friends with Epstein despite his comments in the birthday book, telling lawmakers, “I didn’t consider him my best friend or a dear friend,” though he admitted being “friendly with him in terms of the amount of time I went over and met people at his townhouse.” The committee’s attorney asked, “So do you sign birthday letters to all of your business associates with love and kisses, dear friend?” to which Black responded, “Sometimes.”
Black’s Interview Goes Off The Rails
Black’s interview got testy shortly after it began, the transcript shows, as House attorneys asked Black about an NDA with a woman he admitted to having a consensual extramarital affair with. “We’re not going to get into NDAs,” Black’s attorney Susan Estrich told the committee, leading to a back-and-forth over whether Black was allowed to discuss even the existence of his NDAs with Congress voluntarily under the terms of his agreements. After a brief break, Black and his attorneys said they would discuss NDAs only regarding three women who have publicly sued Black—but the conversation again turned argumentative after Black said he was “not sure I’m going to talk about an NDA” with one of the women. “Mr. Black, you stated just a moment ago that you would be willing to talk about the NDAs,” Daniel Ashworth, the committee’s general counsel said. “Now you’re stating that you are not going to talk about the substance of those NDAs.” Ashworth went on to say Black’s refusal to talk about the agreements was “bizarre” and “raises questions as to the completeness of his testimony.” Black testified Epstein was not involved with crafting any NDAs, and, after more back and forth over whether Black could discuss the agreements, Ashworth served Black with subpoenas for his NDAs and for testimony.
Black Leaves The Hearing
After a short break following being subpoenaed, Black’s attorney Aaron Cutler read a statement calling the hearing a “planned political stunt,” arguing the billionaire’s “good faith was met with premeditated political misdirection by the committee which served Mr. Black with subpoenas in an unprecedented manner after less than an hour of questioning.” Black and his counsel then left the room. After statements from Ashworth and an attorney for the committee’s Democratic members, who denounced Black’s statement and made clear he had not communicated previously he was unwilling to discuss the NDAs, the hearing ended.
Black Claims Birthday Letter About Women Was Just A ‘Bad Poem’
Before the interview took a turn, Black was asked about his letter to Epstein for his 50th birthday, which consisted of what Black described as a “bad poem” about the financier. The poem referenced women, with Black writing, “By Birds and by Bucks, Cs and Ms are his key? / Blond, red, or brunette spread out geographically.” The billionaire said his language was referring to the fact Epstein “liked money and he liked women,” describing him as a “confirmed bachelor” who “liked women, whether they were blond, redheaded, or brunettes.” Black denied he was referring to any women specifically but said Epstein “seemed to know women all over the world” and “enjoyed the company of good women,” noting “his staff were mostly good-looking women, and his pilot was a 6-foot 4 blond.” That pilot’s name is redacted in the transcript, but may refer to Nadia Marcinko, Epstein’s former girlfriend who also served as an assistant pilot for his private plane. Black said she appeared to be over the age of 18, and denied any knowledge of the pilot allegedly being trafficked to Epstein when she was underage.
Read more White House And FIFA Chief Will Meet Over World Cup’s Wildfire Smoke Concerns
Key Background
Black is known to have been one of Epstein’s main financial clients, with an investigation showing he paid Epstein some $170 million for estate and tax planning. The billionaire stepped down from his position leading Apollo Capital Management, which he cofounded, in 2021 over his ties to Epstein, though he has long denied any wrongdoing involving the financier. Apollo also commissioned an independent investigation into Black’s ties to Epstein, which did not reveal any impropriety. Black has also faced multiple allegations of sexual abuse from women tied to Epstein, which he has strongly denied. Only one of the three lawsuits brought against him is still pending, after the others were dismissed or dropped, and a court sanctioned an attorney behind the lawsuits in April, arguing she “repeatedly lied to the Court and to opposing counsel in this litigation” about related litigation. The billionaire also paid the U.S. Virgin Islands $62.5 million in 2023 to avoid litigation arising from its investigation into Epstein, and narrowly avoided being deposed about Epstein earlier this year, after Epstein accusers settled a lawsuit with Bank of America about the institution’s alleged financial support to the late financier.
Further Reading
Leon Black Walks Out Of Epstein Interview After Being Subpoenaed, Decries ‘Political Stunt’ (Forbes)
How Picasso, Van Gogh And Cézanne Helped Finance Epstein Client Leon Black’s Billionaire Lifestyle (Forbes)
Read more Taco Bell Hit With Federal Lawsuits Over Cyclosporiasis Infections