Jeffrey Epstein advised Starlink rival OneWeb's founder Greg Wyler on securing funds — What we know

Convicted child sex offender Jeffrey Epstein was an advisor involved in creating OneWeb, the largest rival to billionaire Elon Musk's Starlink, Bloomberg reported citing emails released by the United States Department of Justice, as part of the so-called ‘Epstein Files’.

Epstein reportedly advised OneWeb founder Greg Wyler as he sought funds for the low-Earth orbit satellite network company, which was founded in 2012. Among the investors who invested included Qualcomm Inc., and Softbank Group Corp.

In an emailed statement responding to Bloomberg's queries, Wyler did not dispute the accuracy of the email contents. “Epstein said he had professional relationships with and advised many in the tech industry” at the time of the fundraising, Wyler told the publication.

He added that Epstein “did discuss investing, but no investment ever occurred. To state this more broadly, I never accepted any offer or request he made to invest or support any company I was associated with.”

OneWeb's bankruptcy and acquisition — Details

A spokesperson for Eutelsat Communications SA, OneWeb’s owner today, said Wyler left OneWeb when it entered Chapter 11 proceedings in March 2020. The company was subsequently restructured and refinanced and emerged from bankruptcy under new ownership and governance, the spokesperson added.

OneWeb was rescued from bankruptcy by the UK government and India’s Bharti Enterprises Ltd. France’s Eutelsat then combined with OneWeb in 2023.

Wyler is now founder and chief executive officer of E-Space, another satellite network startup. It broke ground on a headquarters in Arlington, Texas, in October, a development the city said would create 2,000 jobs.

E-Space didn’t reply to requests for comment.

‘Interactions with Epstein were professional’

In a post on X late Wednesday replying to a comment about his appearance in the disclosures, Wyler said his interactions with Epstein “at all times were professional.”

Many of the published messages are abbreviated, misspelled and lack context, sometimes leaving it unclear whether deals were acted on or merely discussed. But they also lift the curtain on negotiations and rendezvous in which globe-trotting personal lives overlapped with business, with references to Musk and other billionaires.

The Wyler emails are among a trove of materials released last Friday that reveal Epstein’s connections to prominent individuals including investors, executives, lawyers and political figures.

Wyler shared a term sheet with Epstein in May 2014 while discussing a possible investment from Alphabet Inc.’s Google.

The pair wrote to each other about visiting Necker Island in the Caribbean, owned by Richard Branson, an early OneWeb investor, and emailed about private jets, with Epstein introducing Wyler to an aircraft broker.

Wyler appeared on a flight manifest with Epstein and asked to borrow the use of Epstein’s helicopter, while Epstein tapped the technologist for advice on improving his estate’s broadband.

Glimpses of emails between Epstein and Wyler

The messages offer glimpses of Wyler’s relationship with Musk before the rise of Starlink, now the world’s largest satellite network. In May 2014, Epstein counseled Wyler on bringing in competitive bidders. Wyler replied: “Agree. Will call you in the morning. Had dinner at Elon’s tonight, nice place.”

“Of course I want you involved,” Wyler wrote to Epstein two days later. “I like doing things with friends... I know you don’t care about the social good, but you can have fun and make money as well.”

“I am taking your advice — it is playing heavily in my thoughts,” Wyler wrote to him in June.

That month, Epstein offered to help Wyler in exchange for a 30% cut of tax savings. To Bloomberg, Wyler said he “never accepted any offer” made by Epstein.

Epstein also criticized Wyler’s negotiating progress and demanded updates with curt emails.

In October 2014, Epstein asked Wyler: “if elon is not funding how are you getting it done?” Wyler replied: “He has not decided he is not funding. He has said he would invest or buy it.”

Epstein expressed frustration — “NOT again” — and Wyler replied: “I obviously suck at this,” adding he had a signed agreement with Musk “but at the last minute before funding he wanted to see if he could buy it or if we could bring in others.”

Two years later, Wyler said he “taught” Musk about satellites “under the guise that he was going to invest,” adding Musk is “way behind us.”

Today, OneWeb has launched more than 600 satellites into low-Earth orbit. Meanwhile SpaceX has launched thousands for its Starlink network using its own vertically integrated reusable rocket business, and earlier this month it announced plans to merge with Musk’s xAI at a valuation of $1.25 trillion.

In 2017 Epstein tried to connect tech billionaire Peter Thiel with Wyler to discuss “space policy.”

The pair exchanged deal details again the year before Epstein’s death.

In April 2018, Epstein asked if “my investment” would be multiplied four times if the company reached a $1 billion valuation.

Wyler replied: “Assuming all the debt converts (unknown) then you are in at a 151m valuation.” He added, “debt will be pari passu with series 2 preferred (you),” referring to the Latin phrase for “equal footing.”

(With inputs from Bloomberg)