Thomas J. "Tom" Barrack Jr. (born 1947/1948) is an American private equity real estate investor and the founder, chairman, and CEO of Colony NorthStar. Barrack is a close friend and ally of President Donald Trump who has represented Trump on television news segments. He also served as the chairman of the Presidential Inaugural Committee.
Video Thomas J. Barrack Jr.
Early life
His grandparents immigrated to the United States from Lebanon. He graduated with a BA in 1969 from the University of Southern California (USC) where he was a star on their national championship rugby team. He attended USC and USC Gould School of Law receiving a JD in 1972 and he was an editor of the Law Review.
Maps Thomas J. Barrack Jr.
Career
His first job was at the law firm of Herbert W. Kalmbach, President Richard Nixon's personal lawyer. He then worked in Saudi Arabia for the Fluor Corporation, learned Arabic and worked for Saudi princes. Shortly after, he helped open diplomatic relations between Saudi Arabia and Haiti, then ruled by Jean-Claude Duvalier, at the request of investor Lonnie Dunn.
Barrack served as Deputy Undersecretary of the United States Department of the Interior under James G. Watt in the Reagan administration.
Barrack was later a principal with the Robert M. Bass Group. In 1990, he founded Colony Capital, with initial investments by Bass and GE Capital, and later Eli Broad, Merrill Lynch, and Koo Chen-fu. He has invested some $200 million in Middle East real estate, $534 million in non-performing German real estate loans, and made a $24 million loan to photographer Annie Leibovitz. He also owns the Neverland Ranch. Through Colony Capital, he runs a $25 billion portfolio of assets, from the Fairmont Raffles Hotels International hotel chain in Asia, the Aga Khan's former resort in Sardinia, Resorts International Holdings, One&Only Resorts, Atlantis, etc.
Barrack is a trustee at the University of Southern California and a member of the University Board of Pepperdine University. He has also served on the board of directors of Accor, Kerner, First Republic Bank, Continental Airlines, Korea First Bank, and Megaworld Properties & Holdings. French president Nicolas Sarkozy awarded him France's Chevalier de la Légion d'honneur.
As of September 2011, Barrack was the 833rd richest person in the world, and the 375th richest in the United States, with an estimated wealth of US$1.1. billion. However, he was no longer a billionaire in 2014.
In October 2017, Barrack's Colony Capital invested in film production company The Weinstein Company to allegedly keep it afloat in light of the sexual misconduct allegations against Harvey Weinstein. Barrack had previously owned a stake in Miramax, the Weinstein brothers' predecessor film company.
Barracks used Cayman Islands entities to invest pension fund money in distressed real estate and send money towards the Colony parent company, according to an organization chart that surfaced in the Paradise Papers documents leaked from the Appleby law firm
Political activity
Barrack endorsed Donald Trump for President of the United States in 2016. He is a major fundraiser for Trump's campaign through the "Rebuilding America Now" Super PAC. He spoke at the 2016 Republican National Convention.
Personal life
Barrack is married, and he has four children. They reside in Los Angeles, California. He also owns a 1,200-acre mountain ranch near Santa Barbara, California. He is Roman Catholic. His wife filed for divorce in 2016.
References
Source of article : Wikipedia
0 Comments