Thomas J. Barrack Jr.

Thomas J. Barrack Jr.
Born 1947/1948 (age 68–69)[1]
Alma mater University of Southern
California
(BA)
University of San Diego (JD)
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 chief executive officer of Colony Capital, headquartered in Los Angeles, California.[2][3][4][5][6][7]

Early life

His grandparents immigrated to the United States from Lebanon.[8] He graduated with a BA in 1969 from the University of Southern California where he was a star on their national championship Rugby Team. Attended USC and University of San Diego receiving a JD in 1972 and he was an editor of the Law Review.[3][8][9]

Career

His first job was at the law firm of Herbert W. Kalmbach, President Richard Nixon's personal lawyer.[4] He then worked in Saudi Arabia for the Fluor Corporation.[4] 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.[4]

Barrack served as Deputy Undersecretary of the United States Department of the Interior under James G. Watt in the Reagan administration.[3][6]

Barrack was later a principal with the Robert M. Bass Group.[3][5][6] 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.[4] 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.[8] He also owns the Neverland Ranch.[8] 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.[4]

Barrack is a Trustee at the University of Southern California.[10] He has also served on the Board of Directors of Accor, Kerner, First Republic Bank, Continental Airlines, Korea First Bank, and Megaworld Properties & Holdings.[6][11][12] Additionally, French president Nicolas Sarkozy awarded him France's Chevalier de la Légion d'honneur.[3]

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.[8] However, he was no longer a billionaire in 2014.[13]

Political activity

Barrack endorsed Donald Trump for President of the United States in 2016.[14] He is a major fundraiser for Trump's campaign through the "Rebuilding America Now" Super PAC.[15][16] He spoke at the 2016 Republican National Convention.[17] He was also rumored to be considered for Treasury Secretary in the Trump administration.

Personal life

Barrack is married, and he has four children.[13] They reside in Los Angeles, California.[13] He also owns a 1,200-acre mountain ranch near Santa Barbara, California.[4][8] He spends summers in a castle in the South of France.[4] He is Roman Catholic.[18]

References

  1. http://www.nytimes.com/2011/04/06/business/global/06equity.html
  2. "Colony Capital, Inc - Contact". www.colonyinc.com. Retrieved 2015-08-26.
  3. 1 2 3 4 5 "Colony Capital biography". Colonyinc.com. Retrieved 2012-03-06.
  4. 1 2 3 4 5 6 7 8 Shawn Tully, 'I'm Tom Barrack and I'm getting out', on CNN, October 31, 2005
  5. 1 2 "CNBC Global Players". Globalplayers.tv. Retrieved 2012-03-06.
  6. 1 2 3 4 "Arab Bankers Association of North America". Arabbankers.org. 2012-11-20. Retrieved 2012-03-06.
  7. Benjamin Wallace, 'Monetizing the Celebrity Meltdown', in New York Magazine, Nov 28, 2010
  8. 1 2 3 4 5 6 "Forbes profile". Forbes.com. Retrieved 2012-03-06.
  9. "California Bar". Members.calbar.ca.gov. 1972-12-14. Retrieved 2012-03-06.
  10. "Board of Trustees". University of Southern California. Retrieved May 10, 2016.
  11. "Accor Board of Directors". Accor.com. Retrieved 2012-03-06.
  12. "First Republic Bank Board of Directors". Firstrepublic.com. 2010-01-01. Retrieved 2012-03-06.
  13. 1 2 3 "Thomas Barrack: 2014 Billionaires List: Dropoff". Forbes. Retrieved July 22, 2016.
  14. 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.
  15. Swan, Jonathan (15 May 2016). "Where Republican donors stand on Donald Trump". The Hill. Retrieved 15 May 2016.
  16. Beckel, Michael (July 19, 2016). "Trump's new super PAC attack dog". Center for Public Integrity. Retrieved July 21, 2016.
  17. Tim Tebow: Speaking slot at Trump convention 'a rumor', Associated Press (July 14, 2016).
  18. "New Parishioners" (PDF). St. Maximilian Kolbe Catholic Church. Retrieved 2012-03-06.
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