I’m a wealth reporter covering the world’s richest people for Forbes. Any tips about billionaires or billion dollar businesses, email me at [email protected]
As the man who made Jeffery Epstein professionally, the longtime head of Victoria’s Secret stepped down from his retail giant, seemingly finished. This is the inside story of how the 86-year-old quietly engineered one of the biggest semiconductor projects in history.the summer of 2021, farmers and homeowners in the quiet rural community of Johnstown, Ohio began getting knocks on their doors and letters in their mailboxes.
Biden at Intel's groundbreaking ceremony in New Albany, Ohio in September 2022."Folks, the future of the chip industry is going to be made in America," he said in a speech that day.When Wexner stepped down from L Brands and out of the spotlight in 2020 amid scrutiny over his relationship with sex offender Jeffrey Epstein, many may have thought the retail mogul, now 86, was retiring after nearly six decades to quietly enjoy his billions.
Billionaires buying up and redesigning entire towns is nothing new. Larry Ellison bought about 97% of the Hawaiian island of Lana’i in 2012 and has transformed it with a luxury resort and a Four Seasons-branded wellness retreat. Netflix founder Reed Hastings spent $100 million on Utah’s Powder Mountain, the biggest ski resort in North America, and is now rebranding the area.
Wexner listed himself as “retired” or “not employed” on some political donations starting in 2020. But that’s not true, according to a number of people with whomspoke. “In the real estate side of things, is more active than he’s ever been,” says a former New Albany higher-up who lives in the area, citing recent conversations with those aware of Wexner’s goings-on. “Because he has the time to do it, and I think frankly from what I’m hearing, he’s really enjoying it.
The scandal didn’t hamper New Albany. These days the city’s median household income is $225,000 and houses regularly sell for over $1 million, but it has become much more than a fancy neighborhood. Its eponymous business park has attracted more than 90 companies, including The Limited’s Abercrombie & Fitch, California pharma giant Amgen and Amazon Web Services, that employ a total of 25,000 people in the area. “It was just simple,” says former Governor John Kasich, who set up JobsOhio.
Wexner Victoria Secret Intel Semiconductors Epstein Jeffrey Epstein Ohio New Albany New Albany Company
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