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From Wikipedia, the free encyclopedia

Thomas J. "Tom" Barrack, Jr. is an American real estate investor.

Contents

Education

Barrack attended Loyola High School (Los Angeles) and went on to receive his undergraduate degree from the University of Southern California in 1969. He received his law degree from the University of San Diego in 1972[1], where he was an editor of the Law Review.

Early career

His first job was at the firm of Herb Kalmbach, President Nixon's personal attorney. One of the firm's biggest clients, construction giant Fluor Corp., needed a volunteer to live in Saudi Arabia for a few months to negotiate a contract. When his Fluor assignment ended, Barrack stayed on and went to work reviewing deals for two young Saudi princes. For over 4½ years he did tens of millions in deals for the princes.

In 1976 Barrack returned to California, where he was hired to run a company that built industrial and office parks. He ran the company until 1982, learning all about real estate. He followed this experience with a short stint at Watt in Washington D.C. and a brief run as an investment banker, before billionaire Bob Bass recruited him to do real estate deals - including a deal on the infamous Black Monday, October 19th, 1987, to buy Westin from Allegis for $1.3 billion.[2]

Colony Capital

In 1990 Barrack formed Colony Capital. Originally established to cash in on the savings and loans crisis, Colony has also invested in an array of hospitality assets, from a Holiday Inn in Manhattan and Novotel in Paris, to Accor’s CGHS portfolio, Hilton, Hyatt and Starwood brands, independent luxury resorts and until it was recently sold to Fairmont now the Savoy Group. The portfolio also includes the Cala di Volpe in Sardinia.

Colony Capital owns a majority stake in Neverland Ranch, the former residence of Michael Jackson.[3][4]

Wealth

According to Forbes magazine, he is the 228th richest American.[5]

References

External links

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