Epstein files reveal how the ultra-rich use art to make themselves even richer. How it helps their wealth last forever

According to a document titled Art Partnership Inventory included in the Epstein files, by 2014, entities tied to Black had roughly $1 billion worth of artwork as collateral. By 2017, that amount grew to about $1.4 billion (2). At the end of 2015, Black had more than $600 million in loans outstanding (4).Private banks typically lend against art using a loan-to-value (LTV) ratio — a measure that determines how much a lender will extend based on an asset’s appraised value. For art, those ratios usually top ou ...