Thomas J. Barrack Jr.

Tom Barrack
Born 1947/1948 (age 69–70)[1]
Education University of Southern
California (BA, JD)
Net worth USD$1.0 billion (2017)
Political party Republican
Spouse(s) Rachelle Barrack
Children 4

Thomas J. "Tom" Barrack Jr. (born 1947/1948) is an American private equity real estate investor and the founder, chairman, and CEO of Colony Capital. Barrack is a close friend and ally of President Donald Trump, and has represented Trump on television news segments. He served as the chairman of the Presidential Inaugural Committee.[2][3][4][5][6][7][8]

Early life

His grandparents immigrated to the United States from Lebanon.[9] 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.[4][9][10]

Career

His first job was at the law firm of Herbert W. Kalmbach, President Richard Nixon's personal lawyer.[5] He then worked in Saudi Arabia for the Fluor Corporation.[5] He then 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.[5]

Barrack served as Deputy Undersecretary of the United States Department of the Interior under James G. Watt in the Reagan administration.[4][7]

Barrack was later a principal with the Robert M. Bass Group.[4][6][7] In 1990, he founded Colony Capital, and received initial investment from Bass and GE Capital, and later from Eli Broad, Merrill Lynch, and Koo Chen-fu.[5] He has invested some $200 million in Middle East real estate, $534 million in non-performing German real estate loans, and a $24 million loan to photographer Annie Leibovitz.[9] He also owns the Neverland Ranch.[9] 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.[5]

Barrack is a Trustee at the University of Southern California.[11] He has also served on the Board of Directors of Accor, Kerner, First Republic Bank, Continental Airlines, Korea First Bank, and Megaworld Properties & Holdings.[7][12][13] Additionally, French president Nicolas Sarkozy awarded him France's Chevalier de la Légion d'honneur.[4]

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.[9] However, he was no longer a billionaire in 2014.[14]

Political activity

Barrack endorsed Donald Trump for President of the United States in 2016.[15] He is a major fundraiser for Trump's campaign through the "Rebuilding America Now" Super PAC.[16][17] He spoke at the 2016 Republican National Convention.[18]

Personal life

Barrack is married, and he has four children.[14] They reside in Los Angeles, California.[14] He also owns a 1,200-acre mountain ranch near Santa Barbara, California.[5][9] He is Roman Catholic.[19]

References

  1. ↑ https://www.nytimes.com/2011/04/06/business/global/06equity.html
  2. ↑ Finnegan, Michael. "Who are Trump's friends? One is Thomas Barrack, a Californian who could shape his views on the Middle East". LA Times. Retrieved January 21, 2017.
  3. ↑ "Colony Capital, Inc - Contact". www.colonyinc.com. Retrieved August 26, 2015.
  4. 1 2 3 4 5 "Colony Capital biography". Colonyinc.com. Retrieved March 6, 2012.
  5. 1 2 3 4 5 6 7 Shawn Tully, 'I'm Tom Barrack and I'm getting out', on CNN, October 31, 2005
  6. 1 2 "CNBC Global Players". Globalplayers.tv. Retrieved March 6, 2012.
  7. 1 2 3 4 "Arab Bankers Association of North America". Arabbankers.org. November 20, 2012. Retrieved March 6, 2012.
  8. ↑ Benjamin Wallace, 'Monetizing the Celebrity Meltdown', in New York Magazine, November 28, 2010
  9. 1 2 3 4 5 6 "Forbes profile". Forbes.com. Retrieved March 6, 2012.
  10. ↑ "California Bar". Members.calbar.ca.gov. December 14, 1972. Retrieved March 6, 2012.
  11. ↑ "Board of Trustees". University of Southern California. Retrieved May 10, 2016.
  12. ↑ "Accor Board of Directors". Accor.com. Retrieved March 6, 2012.
  13. ↑ "First Republic Bank Board of Directors". Firstrepublic.com. January 1, 2010. Retrieved March 6, 2012.
  14. 1 2 3 "Thomas Barrack: 2014 Billionaires List: Dropoff". Forbes. Retrieved July 22, 2016.
  15. ↑ Ensign, Rachel Louise; Karmin, Craig; Benoit, David (March 5, 2016). "Donald Trump's Three Friends in Finance". The Wall Street Journal. Retrieved May 10, 2016.
  16. ↑ Swan, Jonathan (May 15, 2016). "Where Republican donors stand on Donald Trump". The Hill. Retrieved May 15, 2016.
  17. ↑ Beckel, Michael (July 19, 2016). "Trump's new super PAC attack dog". Center for Public Integrity. Retrieved July 21, 2016.
  18. ↑ Tim Tebow: Speaking slot at Trump convention 'a rumor', Associated Press (July 14, 2016).
  19. ↑ "New Parishioners" (PDF). St. Maximilian Kolbe Catholic Church. Retrieved March 6, 2012.
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