The Other Barbarians at the Gates
By Jessica Pressler | NYMag.com
ďItís incredible, right?Ē shouts Jeff Greene over the roar of the two-seater dune buggyís motor. ďItís 55 acres!Ē
Still in his whites from this morningís tennis match, heís giving a personal tour of his Sag Harbor estate, barreling at 30 miles per hour through the vast forest of scrubby pines and soft moss of its gated grounds. ďBeautiful nature here!Ē A blur of deer goes by, and the trees break to reveal the summer sun glinting off a grassy lagoon. Greene slows by its shore. ďThis is our swan pond, and this is our private beach,Ē he says, gesturing toward a slip of white sand encircling the edge of the North Haven Peninsula. ďIt goes all the way to the ferry. Three thousand feet of beach,Ē he adds, a smile spreading across his tanned face.
Greene made his fortune in real estate, and heís never been shy about showing it off. ďHaving money is great,Ē he says. ďItís fun. The more the better.Ē For years, he was a fixture on the party circuit, and celebrities like Lindsay Lohan and his old roommate Heidi Fleiss were not uncommon sights on his yacht, The Summerwind. In 2006, after an old friend, John Paulson, showed him how he was planning to short the impending housing bust, he replicated the trade and made himself a billionaire. Since then heís settled down, married a bubbly Chinese-Australian woman named Mei-Sze, had two children, and changed positions once again. ďIíve got a huge, huge position in mortgage-backed securities,Ē he says. ďI started accumulating them in 2009, when the market was really down and things were really scary.Ē Thatís also when he picked up this property for around $40 million (half the 2007 listing price), which he and his wife have christened ďGreene Haven.Ē ďI wish we could spend more time here,Ē he says. ďHonestly, we have so many great homes.Ē
He cuts the engine, and for a moment the only sound is the waves lapping peacefully against the shore. Greene gazes across the bay at the multi-million-dollar houses peeking from behind the trees. I assume heís quietly contemplating acquiring even more of the shoreline, but then he says something surprising. ďIf somebody wanted to go after a rich person,Ē he observes, ďthey have got their pick of the litter out here.Ē
Itís strange to imagine someone like Greene, who counts Mike Tyson as a close friend, and who has a streak that caused the L.A. party girls to refer to him as ďMean Jeff Greene,Ē feeling vulnerable. Itís hard to think of any superrich person as vulnerable, just as itís hard to think that a bear with outstretched claws and giant teeth is more afraid than you are. But over the past few months, itís become clear that rich people are very, very afraid. Sometimes it feels like this was the main accomplishment of Occupy Wall Street: a whole lot of tightened sphincters. Itís not a stretch to say many residents of Park Avenue harbor vivid fears of a populist revolt like the one seen in The Dark Knight Rises, in which they cower miserably under their sideboards while ragged hordes plunder the silver.
ďThis is my fear, and itís a real, legitimate fear,Ē Greene says, revving up the engine. ďYou have this huge, huge class of people who are impoverished. If we keep doing what weíre doing, we will build a class of poor people that will take over this country, and the country will not look like what it does today. It will be a different economy, rights, all that stuff will be different.Ē
More often than not, fears like these manifest as loathing for the current administration, as evidenced by the recent wave of Romney fund-raisers in the Hamptons. ďObama wants to take my money and give it to do-nothing animals,Ē one matron blurted at a recent party ...
Read the full article at: nymag.com
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