Tom Barrack is an American who is not only a businessman but also an investor. As far as the latter is concerned, he works on private equity real estate niche. He is best known as the founder, Chief Executive Officer (CEO) as well as the chairman of a company by the name Colony NorthStar. It is no secret that he Barrack and President Donald Trump He is both his ally and close friend. That explains his many representations of Trump. They are usually on news segments on television. The man also chaired the Presidential Inaugural Committee. Here are details regarding Tom Barrack’s net worth in 2018, childhood life, marriage, career, awards as well as achievements.
Tom Barrack Early Life
Tom Barrack was born as Thomas J. Barrack Jr. Neither his date of birth nor his birthplace is known. However, the year of birth is either 1947 or 1948. There are no details available regarding his parents or siblings either. Only the fact that his grandparents were immigrants from Lebanon.
Tom Barrack studied at the University of Southern California. He earned a BA upon his graduation in 1969. Later, he got his JD in 1972 from its Gould School of Law.
In 2014, he tied the knot with Rachelle Barrack.
Tom Barrack Career, Awards & Achievements
Tom Barrack’s first worked at the law firm of Herbert W. Kalmbach, President Richard Nixon’s lawyer. Later he then worked in Saudi Arabia for the Fluor Corporation, learned Arabic and worked for Saudi princes. He has served as Deputy Undersecretary of the United States Department of Interior Under James G. Watt in the Reagan administration.
He founded his Colony Capital in 1990, with initial investments by Bass and GE Capital, and later Eli Broad, Merrill Lynch, and Koo Chen-fu. Currently, Tom Barrack has $540 million in a non-performing German real estate, has invested some $200 million in the Middle East and made $24 million loans to photographer Annie Leibowitz.
Barrack is a member of the University board of Pepperdine University and a trustee at the University of Southern California. He has served on the board of directors of First Republic Bank, Continental Airlines, Accor, Kerner, Megaworld Properties & Holdings and Korea First Bank.
Awards & Achievements
The French president Nicholas Sarkozy awarded him Chevalier De la Legion d’honneur.
Net Worth of Tom Barrack
Tom Barrack has a net worth of over $1.5 billion. His colony capital currently is managing more than $25 billion portfolios of assets including Atlantis, Asia’s Fairmont Raffles Hotels International Hotel chain, Resorts International Holdings and One & Only Resorts.
He was ranked the 833rd richest person in the world, and 375th richest in the United States as of September 2011 with an estimated wealth of $1.1 billion. In 2014 it was unfortunate he was no longer a billionaire. Tom’s Colony Capital Invested in a film production company, The Weinstein Company in October 2017. The Weinstein Company was to keep the Colony Capital afloat in light of the allegations of the sexual misconduct allegations against Harvey Weinstein. Previously Tom owned a stake in Miramax, the Weinstein brothers’ predecessor film company.
Tom Barrack is a great man with powerful allies as well. He is one of the closest friends of US president Donald Trump.The two met during the negotiation of the deal of the plaza hotel the 80s. Due to their friendship, he endorsed Donald Trump for the presidential candidate in 2016 and was a major fundraiser for Trump’s campaign through the “Rebuilding America Now” super PAC. He served as senior advisor to Trump’s campaign and chairman of his inaugural committee.