S tephen Deckoff is an American billionaire investor and the founder and managing principal of Black Diamond Capital Management, an alternative asset management firm. After a career at notable financial institutions, he founded Black Diamond in 1995. The firm specializes in distressed debt and private equity, with a focus on acquiring and turning around underperforming or financially troubled companies. Over the years, Black Diamond has managed billions of dollars and built a reputation for its expertise in complex restructurings.

Deckoff's wealth is derived from his ownership of the successful investment firm he founded. In 2023, he gained significant public attention when he purchased two private islands in the U.S. Virgin Islands, Great St. James and Little St. James, the latter of which was infamously owned by the late disgraced financier Jeffrey Epstein. Deckoff announced plans to develop the islands into a single, world-class luxury resort, a project that is expected to be a major economic driver for the region. He is now a full-time resident of the U.S. Virgin Islands.