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Michaela Pagel, Associate Professor of Finance, Washington University in St. Louis

How businesses with ties to Jeffrey Epstein saw norms – and even share prices – suffer

Beyond the well-known names, Jeffrey Epstein's network of contacts had infiltrated the boardrooms of hundreds of major U.S. companies, with clear consequences for corporate conduct. Martin BUREAU/AFP via Getty Images

The release of the Jeffrey Epstein files in early 2026 wasn’t just a scandal about one man. It was an unexpected window into the hidden architecture of American corporate power.

When the U.S. Department of Justice published more than 3 million pages of documents on Jan. 30, 2026, most of the media focused on the famous names. But the files also revealed something broader and more troubling. Epstein’s network had infiltrated the boardrooms of hundreds of major U.S. companies, with clear consequences for corporate misconduct affecting employees and the broader business culture.

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