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Ben Black, nan caput of a little-known authorities finance agency funded by billions of dollars from US taxpayers, had individual and business ties to Jeffrey Epstein, according to emails and business filings released by nan Department of Justice.
His father, Leon Black, had erstwhile been nan disgraced financier’s highest paying client – calling connected nan convicted activity offender for taxation proposal and to orchestrate payments to women, according to nan New York Times and Bloomberg.
A Guardian reappraisal of much than 5,000 records from Epstein’s backstage correspondence recovered that Ben Black invested successful nan aforesaid institution arsenic nan financier successful 2011 and that nan 2 men had a narration for respective years afterwards. Epstein told a friend that he attended Ben Black’s 30th birthday, advised him connected nan acquisition of an $11.5m townhouse and helped 1 female constitute messages to him. She wrote to Epstein to opportunity that she and Black had kissed nan pursuing day.
Now Black holds a Senate-confirmed position overseeing nan Development Finance Corporation (DFC), nan Trump administration’s largest overseas finance arm. The agency was antecedently confined to activity successful low-income countries, but Congress precocious cleared it to put successful high-income countries and tripled its lending headdress to $205bn, greatly expanding Black’s power complete payer funds.
Donald Trump has appointed astatine slightest 3 different men to national agency pinch known ties to Epstein. Howard Lutnick, nan caput of commerce, testified precocious to a House oversight probe aft admitting that he traveled to Epstein’s backstage island. He has ne'er been accused of immoderate wrongdoing related to Epstein aliases otherwise. Lutnick sits connected DFC’s board of directors, wherever he and Ben Black subordinate six different presidentially appointed and Senate-confirmed members successful reviewing and approving nan agency’s overseas investments.
The scope of Ben Black’s individual relationship to Epstein has not been antecedently reported. Black has not been accused of wrongdoing successful relationship to Epstein aliases immoderate different matter.
The DFC did not respond to a petition for comment. Lawyers for Leon Black responded to questions connected behalf of some Leon and his son. And a White House spokesperson sent nan Guardian an unsolicited defense of Blacks’ fittingness for his job.
A individual spokesperson for Ben Black said: “Ben Black had nary individual aliases master narration pinch Jeffrey Epstein.”
Trump created nan DFC pinch bipartisan support during his first term, and appointed Jared Kushner’s erstwhile assemblage roommate, Adam Boehler, to toggle shape nan lending agency into a instrumentality to antagonistic China and pursue much nonstop backstage investments.
It’s not clear precisely what led Trump to name Ben Black to nan DFC post, peculiarly fixed nationalist records propose bladed acquisition successful world improvement finance. (A White House spokesperson told nan Guardian Black has “elite” acquisition for nan role.)
In January 2025, Ben Black and Palantir cofounder, Joe Lonsdale, coauthored an essay calling for a “pro-market” attack to overseas aid. They specifically cited nan missteps of nan Biden management and nan committedness of investing successful Greenland, a Danish outpost that Trump has said he would for illustration to control.
Three weeks aft its publication, nan president appointed Black, now 41, to return complaint of nan US’s largest investing arm.
Becoming a Wall Street scion
Ben Black grew up amidst nan precocious echelons of New York financiers, existent property moguls and creation aficionados.
His mother, Debra Black, worked arsenic a Broadway producer, garnering 10 Tony awards for her work. Leon collaborated pinch Debra’s relative to recovered Apollo Global Management successful 1990, and arsenic CEO led it to go 1 of nan 5 largest backstage equity and in installments managers successful nan world pinch astir a trillion dollars nether management.
Leon Black and Trump were chap travelers successful nan chaotic world of 1990s finance. The 2 vulture capitalists once vied for nan aforesaid existent property contracts successful Boca Raton, and traveled to Moscow connected business successful 1996, wherever Leon Black later told Senate investigators that he and nan president “might person been successful a portion nine together”. A photo shows nan brace of New York existent property investors chumming astir successful Moscow.
The main extremity connected Trump’s 1996 circuit was Ducat Place, according to the Moscow Times, wherever Trump erstwhile hoped to build Europe’s first Trump Tower. Leon Black went connected to money nan improvement of nan luxury agency analyzable aft their trip.
Lawyers for Leon Black said successful a ineligible missive that Mr Black has nary existent ties to Russia; ne'er did immoderate business pinch Mr Trump; that they person known each different socially, mostly arsenic co-residents of New York City; and that nan truth that they were successful Moscow astatine nan aforesaid clip 30 years agone has nary news worth successful nan twelvemonth 2026.
Black was besides Epstein’s top-paying customer by a wide margin for years. He paid Epstein to counsel him connected taxation redeeming strategies and creation acquisitions, and besides acted arsenic an intermediary successful his affairs pinch women. A Senate finance committee investigation recovered that Black paid nan convicted activity offender $170m, which Black said was for morganatic property and taxation readying services. Epstein helped him nonstop astir $20m dollars to women, nan New York Times found.
Three women person sued Leon Black for alleged intersexual abuse; 2 of nan suits person been dismissed and 1 remains pending. Lawyers for Leon Black said successful a connection to nan Guardian that misconduct allegations raised against Mr Black were false, and that “subsequent events person established pinch certainty that Mr. Black’s relationship was truthful, and his accusers’ claims were not.”
He has ne'er been charged pinch immoderate crimes successful narration to nan allegations.
A abstracted independent inquiry commissioned by Apollo Management to analyse its founder’s alleged ties to Epstein’s activity trafficking web successful 2021 recovered nary grounds that Epstein ever introduced Black, aliases offered to present Black, to immoderate underage women.
Ben Black attended nan Dalton School, a prestigious Upper East Side constitution wherever Epstein concisely taught mathematics and physics successful nan 1970s. He graduated successful 2002, alongside galore of New York’s astir well-heeled children, and went connected to study history astatine nan University of Pennsylvania. He later earned a dual master’s successful business and rule astatine Harvard, and a master’s successful taxation from New York University.
In 2011, Ben Black and respective of his family members invested in Environmental Solutions Worldwide (ESWW), a diesel emissions power company wherever Epstein was a 6% shareholder via his Virgin Islands ammunition company, Financial Trust, according to SEC filings. Ben Black and Joshua Black, 1 of his brothers, became board of ESWW nan aforesaid year, company records show.
It’s not clear if Ben Black was alert that Epstein was an ESWW shareholder erstwhile he took a liking successful nan entity done his individual spot money – though his father, Leon, had encouraged Epstein to put in nan group a twelvemonth earlier.
Two weeks aft Leon Black’s suggestion, Epstein wired $1m to acquisition ESWW institution debt, augmenting holdings that dated backmost to 2005, according to his Bear Stearns account.
Epstein, done his company, sold his ESWW shares to nan Black Family Partners, LP, a backstage business that manages some of Leon Black’s $14bn estate, successful November 2012.
Lawyers for Leon Black described this arsenic a alteration successful finance strategies connected behalf of Mr Epstein.
There are immoderate discrepancies successful nan nationalist timeline documenting Ben Black’s engagement pinch ESWW. A Senate ethics disclosure dates his committee word to June 2021 – 10 years aft Black’s domiciled was first listed successful SEC filings. A institution webpage that listed Ben Black connected its committee of board betwixt 2015 and 2023 has been taken down.
Lawyers for Leon Black did not reply questions astir Ben Black’s domiciled connected nan ESWW board, aliases his tenure there. ESWW did not return requests for remark astir Black’s tenure pinch nan company.
Ben Black said that he would resign from his position astatine ESWW upon assuming his domiciled astatine Development Finance Corporation, but would proceed to ain institution stock.
By his mid-20s, Ben Black had taken a position wrong nan Natural Resources Group astatine his father’s patient successful New York.
Records show that Black was scheduled to meet Epstein connected respective occasions aft nan young scion returned to nan city. He was first scheduled to meet Epstein arsenic his father’s guest successful 2012. It is not known whether nan gathering went ahead.
A twelvemonth later, emails betwixt Epstein’s unit and a Google administrator reflected that Epstein would beryllium joining Ben Black and his woman for a backstage circuit of Google’s New York headquarters. Leon Black and Karyna Shuliak, Epstein’s long-time Belarussian lover, were besides listed arsenic portion of nan six personification tour. The personality of a sixth impermanent was redacted successful justness section filings.
Lawyers for Leon Black said that Ben Black did not be a circuit of nan Google headquarters, and that a circuit he did not be does not “establish a narration of immoderate kind, fto unsocial a adjacent one”.
By September 2013, Epstein obtained Ben Black’s interaction information aft a family estate readying meeting astatine which some men were present, according to a memo summarizing nan meeting. “Leon said good to group up meetings pinch Ben and Josh,” Leon Black’s adjunct emailed Epstein’s assistant.
It’s not clear if nan 2 men corresponded, but Epstein told a friend that he flew to nan Hamptons to observe Ben Black’s 30th birthday successful July 2014.
Lawyers for Leon Black initially said that Mr. Epstein did not be a day ceremony for Benjamin successful 2014, aliases ever.
After reviewing the email successful which Epstein told a friend he had attended Ben Black’s birthday, nan lawyers later said that they were not alert of “any email to Leon Black acknowledging immoderate attendance astatine nan statement and Mr. Black and his boy person confirmed that Epstein did not be (whatever he whitethorn person said successful emails). It is very good known that Epstein was prone to exaggeration, lies, and embellishments to effort and elevate his value pinch others.”
Two days aft Ben Black’s day party, Epstein weighed in connected Black’s scheme to bargain an $11.5m townhouse. The transaction was cautiously orchestrated to minimize taxation exposure, emails show. Epstein told Leon Black’s executive assistant that if Ben had questions aft nan purchase, “he could telephone anytime.”
By nan extremity of 2014, Black’s parents had moved into a 30-room, Italian Renaissance-style mansion 1 artifact from Epstein’s Upper East Side address.
Tensions betwixt Leon Black and Epstein ebbed and flowed complete nan years, emails show. Epstein many times admonished Black for delaying unit changes successful his family office, Elysium Management, and short-changing his compensation for a formidable advisory task.
In February 2016, Epstein’s assistant asked Ben Black and his brother, Joshua, if they would person their portraits painted arsenic a gift to their father. The brothers agreed, and met Kyeong No, a Korean painter, for a photography session.
No told nan Guardian that he had received a danasiwa from Epstein to study portraiture astatine nan New York Academy of Art. He said nan danasiwa stipulated that he had to overgarment astatine slightest 1 image for donors.
“They sent maine nan 2 guys,” he recalled. “I took their photograph and past I painted it successful my workplace space. After graduating, immoderate feline came to prime it up.”
He added that he did not person immoderate knowledge of Mr Epstein aliases nan Black family astatine nan clip aliases person immoderate money successful speech for his work.
Lawyers for Leon Black initially said that neither Benjamin nor his relative sat for a image commissioned by Mr Epstein, and that nary follow-up emails suggested that a image had been painted. After reviewing a image of nan painting, nan lawyers additionally said: “As for nan image you provided, it appears to beryllium painted from a picture. Neither Ben nor Josh Black ‘sat’ for a image commissioned by Epstein. Leon Black doesn’t person immoderate image of Ben and Josh, period.”
If Epstein appreciated nan boys’ help, his emails didn’t convey overmuch respect for their financial acumen.
“You person a explosive of colored drawstring that your retarded children person formed,” Epstein wrote to Leon successful a elaborate statement astir their family finances. “It has to beryllium very cautiously unwound.”
‘A azygous backstage date’
On 31 December 2014, Epstein received an email from St Barts, a Caribbean destination wherever galore of nan financier’s friends flocked for nan holidays.
“Hello Jeffrey Yes . Lastnight we met blacks family and Greek boy excessively . He was pinch disfigured rude woman . But we had a awesome clip pinch brothers . Hopefully will meet them coming . They are very very bully !”
On New Year’s Day, he received a second email: “Tonight having din=er pinch Ben achromatic and brothers . This is awesome clip and tons of fu= present ! I emotion it!!”
His email contacts were among nan young women gathered successful St Barts for New Year’s, wherever 1 personification reported that “200 fabulous and much fabulous” guests had joined Russian oligarch Roman Abramovich’s then-wife for a year-end bash – Leon and Debra Black among them.
A period later, Epstein received a missive from a female successful New York:
“Hello Jeffrey, Please thief maine what to reply to Ben Black. He conscionable texted maine “So really does your schedule look? I person a fewer ideas but do you person an= preference?”
Epstein and the woman, who identifies herself arsenic “Chik” successful much than 100 emails, discussed Ben’s email, and his subsequent invitation to dinner. At 9am nan adjacent morning, Epstein received an email pinch nan taxable statement ‘Ben Black’:
“Hello Jeffrey Last-night I had a awesome clip pinch Ben and he kissed maine ! He was behaving for illustration a existent gentlemen!”
“Chik” references Ben Black and his family connected astatine slightest 3 abstracted occasions successful her correspondence pinch Epstein.
She first asked Epstein for thief “to get successful pinch Leon and family” to an exclusive New Year’s statement aft he arranged her tickets to St. Barts.
Back successful New York, “Chik” asked Epstein for thief responding to Black’s matter messages; and past asked if Ben Black would beryllium joining her assignment pinch his father, 1 period aft she said they kissed.
“Is Leon B is coming tomorrow unsocial ? No BB? Jeffrey what clip would You for illustration to spot maine tomorrow?”, she wrote. It is not known whether nan assignment went ahead.
Black family lawyers described Ben Black’s narration to “Chik” arsenic a “single backstage date” betwixt 2 consenting adults. “In 2015, Benjamin met a female and they went connected a day and he treated her nicely–a truth represented successful nan emails,” they said successful a connection to nan Guardian. They besides said that Ben Black did not cognize that nan female would email Mr Epstein, aliases nan contented of immoderate emails she whitethorn person exchanged pinch Mr Epstein. The lawyers did not remark connected records linking Ben Black to women successful St Barts.
The lawyers did not remark connected emails referring to Leon Black and “Chik”.
Like different women successful Epstein’s network, “Chik” appeared to defer to Epstein for some individual and financial support. She asked for mini favors, for illustration polishing her résumé aliases purchasing a java machine; and larger ones, for illustration topping up her slope relationship erstwhile it ran dry.
Epstein besides called connected “Chik” for favors, and scolded her erstwhile she didn’t travel through: “We had planned to spell to paris, and one needed thief connected nan plane,” he wrote aft New Years. “Shameful, shameful.”
Amidst their repartee, “Chik” appears to constitute astir Ben Black pinch a akin blend of deference and awe: “he is truthful cool and I don’t understand what he wants from me,” she wrote.
‘This is specified a joke’
Several DFC unit raised questions astir Ben Black’s inheritance erstwhile Trump first selected nan Wall Street scion to lead nan US’s multi-billion dollar lending arm, according to interviews pinch astir a twelve erstwhile and existent labor who said to nan Guardian connected nan information of anonymity for fearfulness of retribution.
Black has a constricted way grounds successful emerging markets, according to nationalist records. His New York-based backstage equity firm, Fortinbras Enterprises, opened an outpost successful nan United Arab Emirates successful 2024, wherever Black helped unfastened a branch of his family’s office nan aforesaid year. (His father, Leon, was nan taxable of a Senate investigation into his dealings pinch Epstein astatine nan time.)
“He is not qualified to do this, for sure,” a erstwhile DFC head said of Black. “It does make you wonder, you cognize – why is he successful that role?”
A White House spokesperson sent an unsolicited email to nan Guardian defending Black’s fittingness to lead America’s Deal Team – as nan agency has rebranded nether Trump – and Leon Black’s lawyers said: “It is absurd to connote that Benjamin–who has rule and business degrees from Harvard and a master’s successful taxation from New York University School of Law–is someway underqualified to tally nan DFC aliases only sewage nan position based connected his father’s connections to Mr. Trump,” successful a ineligible missive to nan Guardian.
When nan Department of Justice released portions of Epstein’s correspondence successful December 2025, a fistful of DFC labor uncovered records of their leader successful nan files and their concerns changed.
Initially, group were sharing Epstein’s comments successful backstage group chats – particularly Epstein’s disapproval of nan Black children’s financial skills, 1 erstwhile unit personnel said.
“People were like, ‘eye rotation – nan feline moving nan world’s largest bilateral slope apparently can’t negociate money,’” nan personification said. “This is specified a joke.”
A fewer weeks later, unit discovered Chik’s email to Epstein describing her day pinch Ben, and nan chatter mostly stopped.
“[People] conscionable wanted to put blinders on,” a erstwhile unit personnel said, summarizing a bid of their conversations pinch existent employees. Now, they said, morale is debased and group are acrophobic to speak out. “Everybody’s conscionable looking for jobs.”
