Report from the Greenwich Bureau

Author:
Publish date:
Updated on

More from Nina Munk's Greenwich piece in the July issue of Vanity Fair (on newsstands next week). The setup:

With its undisturbed views of Long Island Sound and a comfortable commute to Manhattan, Greenwich has long attracted men with brand-new money. A few months ago, one of the main pieces of the original Simmons estate changed hands yet again, this time for $18.5 million. The buyer's identity remains a mystery. Rumor in Greenwich has it he's either a Russian mobster or, more likely, a hedge-fund manager.

But as demonstrated below, the two are not always mutually exclusive**:

venndiag.gif


The article, which points out that hedge funds occupy a third of the office space in Greenwich, goes on to drop the familiar names: Stevie (Cohen), Eddie (Lampert) and Paul (Tudor Jones III). But the most distressing information in the piece, aside from the fact that having millions of dollars just doesn't mean what it used to, is that most of the Greenwich money is--quel horror--new money.

Today, what's left of blueblood Greenwich is nearly invisible. "Old Money est complétement disparu," one member of this dying breed confided to me, switching to French to make her well-bred point. Entre nous. "Or if they're not gone, they're in the woods, hiding." (Or else, like Leslie Lee, great-granddaughter of Zalmon Gilbert Simmons, they're living in what was once the caretaker's cottage on the family's former estate.) The people who count now in Greenwich, and everywhere else in America, it seems, are no longer Mrs. Astor's 400, but the Forbes Four Hundred.

** According to the DealBreaker editorial manual, Venn diagrams are self-evident demonstrations of fact(s).
Greenwich's Outrageous Fortunes [VF]

Related