In April 2008, a private banker at JPMorgan Chase visited her prized clients, Anita and Rajat Gupta, at their home in Westport, Conn., an elegant waterfront estate that was once owned by the retail executive J.C. Penney.
The banker, Heather Webster, reviewed the prodigious wealth accumulated by Mr. Gupta, a former global head of McKinsey & Company, the elite management consulting firm. His net worth at the time, according to Ms. Webster’s notes from the meeting, was $84 million. An irrevocable trust was valued at $38 million. He also had about $11 million in cash.