Ben Black, who currently heads the US Development Finance Corporation (DFC) – a government investment agency funded by US taxpayers – has been linked to convicted sex offender Jeffrey Epstein through previously unreported personal and business ties. These revelations emerge from emails and business filings released by the Department of Justice, underscoring a complex web of connections that also involves Black's father, Leon Black, and former President Donald Trump.

Leon Black, a prominent financier, was Epstein’s highest-paying client, reportedly engaging the disgraced financier for tax advice and to facilitate payments to women. A Senate finance committee investigation found that Leon Black paid Epstein $170 million, which Black asserted was for legitimate estate and tax-planning services. Furthermore, the New York Times reported that Epstein helped Leon Black send approximately $20 million to women. While three women have filed lawsuits alleging sexual abuse against Leon Black, two have been dismissed, and one remains pending. Lawyers for Leon Black deny these allegations, and an independent inquiry commissioned by Apollo Management found no evidence of Epstein introducing Black to any underage women. Leon Black also shared social and business connections with Donald Trump, including vying for real estate contracts and traveling to Moscow together in 1996, where Leon Black later told Senate investigators they “might have been in a strip club together.”

Ben Black's connections to Epstein began years ago. He attended the Dalton School, where Epstein briefly taught math and physics in the 1970s. In 2011, Ben Black, along with several family members, invested in Environmental Solutions Worldwide (ESWW), a diesel emissions control company. SEC filings reveal that Epstein was a 6% shareholder in ESWW via his Virgin Islands shell company, Financial Trust. Ben and his brother, Joshua Black, became directors of ESWW in the same year. It remains unclear if Ben Black knew of Epstein's shareholding when he invested, although his father, Leon, had encouraged Epstein to invest in the company a year prior. Epstein later sold his ESWW shares to the Black Family Partners, LP, in November 2012. Ben Black stated he would resign from his ESWW position upon assuming his DFC role but would retain company stock. Public records show discrepancies regarding Ben Black’s board tenure, with a Senate ethics disclosure dating his term to June 2021, a decade after his initial listing in SEC filings, and a company webpage listing his board role between 2015 and 2023 having been removed.

Personal interactions between Ben Black and Epstein are also documented. Records indicate Black was scheduled to meet Epstein as his father’s guest in 2012, though it’s unknown if the meeting occurred. In 2013, emails between Epstein’s staff and Google administrators show Epstein was slated to join Ben Black, his girlfriend, Leon Black, and Karyna Shuliak (Epstein’s longtime partner) for a private tour of Google’s New York headquarters. Lawyers for Leon Black, however, assert that Ben Black did not attend this tour. By September 2013, Epstein acquired Ben Black's contact information after a joint family estate planning meeting. In July 2014, Epstein told a friend he attended Ben Black's 30th birthday in the Hamptons. Leon Black's lawyers initially denied this, later adding that they were unaware of any email confirming Epstein's attendance to Leon Black and stating that “Epstein was prone to exaggeration, lies, and embellishments.” Two days after the birthday, Epstein provided advice on Ben Black’s plan to purchase an $11.5 million townhouse, orchestrating the transaction to minimize tax exposure.

Further correspondences reveal a woman, identified as “Chik,” sought Epstein’s assistance in communicating with Ben Black. In February 2015, “Chik” texted Epstein, asking for help on how to respond to Ben Black’s invitation to dinner. The following morning, she emailed Epstein stating, “Last-night I had a great time with Ben and he kissed me! He was behaving like a real gentlemen!” “Chik” referenced Ben Black and his family multiple times, including seeking Epstein’s help to “get in with Leon and family” for an exclusive New Year’s party and inquiring if Ben Black would join an appointment with his father. Black family lawyers described Ben Black’s relationship with “Chik” as a “single private date” between two consenting adults, asserting he was unaware she would communicate with Epstein. “Chik” frequently relied on Epstein for personal and financial support, asking for favors ranging from résumé polishing to bank account top-ups.

Ben Black's appointment to lead the DFC, the Trump administration’s largest overseas investment arm, has raised concerns. The DFC, which Congress recently cleared to invest in high-income countries and tripled its lending cap to $205 billion, now gives Black significantly expanded influence over taxpayer funds. DFC staff members, speaking anonymously, questioned Black’s qualifications due to his limited track record in emerging markets. A White House spokesperson, however, defended Black’s “elite” experience, and Leon Black’s lawyers stated it was “absurd to imply that Benjamin – who has law and business degrees from Harvard and a master’s in taxation from New York University School of Law – is somehow underqualified.” Notably, Donald Trump also appointed at least three other individuals with known ties to Epstein to federal office, including Howard Lutnick, the Secretary of Commerce, who serves on the DFC’s board of directors with Ben Black.

The release of Epstein’s correspondence by the Department of Justice in December 2025 further intensified scrutiny within the DFC. Employees initially discussed Epstein’s criticisms of the Black children’s financial skills in private chats, remarking, “People were like, ‘eye roll – the guy running the world’s largest bilateral bank apparently can’t manage money.’ This is such a joke.” However, after discovering “Chik’s” email detailing her date with Ben Black, internal discussions largely ceased, leading to low morale and a climate of fear among staff. While Ben Black has not been accused of wrongdoing in connection to Epstein or any other matter, the extensive documentation highlights a deeply intertwined history.