What is Thomas Barrack’s net worth? President of the Trump fund accused of “acting as an agent of the United Arab Emirates”

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In Los Angeles on Tuesday, July 19, the head of former President Donald Trump’s nomination committee was arrested on federal charges for illegally lobbying the United Arab Emirates during the 2016 campaign and again. while Trump was in the White House.

Former Trump adviser Tom Barrack has been accused of attempting to influence foreign policy when Trump ran for president in 2016 and after his election. In October 20202, messages sent by a “cloud infrastructure provider in Saudi Arabia called” Saudi Executive Cloud “threatened Democrats to change allegiance and vote for Trump,” or “.

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Russia has also been in the spotlight for trying to interfere in the political future of the United States by controlling the polls, as Trump recently pardoned the 15 federal officials lying in connection with the Robert Muller inquiry. on the investigation into Russia in the context of the 2016 presidential election.

On Tuesday, Tom Barrack, 74, the head of Trump’s inaugural committee in 2017, was arrested and charged with acting as an agent of the United Arab Emirates between April 2016 and April 2018. Barrack, however, is the founder of the United Arab Emirates. private equity firm Colony Capital. , he stepped down as CEO in 2020 and stepped down as executive chairman in April. He has known Trump since the 1980s and is a personal friend of his.

“He’s the only person I know the president speaks to as a peer,” Roger Stone, Trump’s longtime political adviser, said of Barrack in a 2018 New York Times report. Two other defendants There were seven counts in the indictment: Matthew Grimes and Rashid Al Malik, a citizen of the United Arab Emirates. Malik is currently on the run. In a June 20, 2019 interview with federal law enforcement officials, Barrack was charged with operating as an unregistered foreign agent, conspiracy, obstruction of justice and having repeatedly made false statements.



What is Thomas Barrack’s net worth?

According to Forbes, with an estimated value of $ 1.1 billion in September 2011, Barrack was the 833rd richest person in the world and the 375th in the United States. In 2013, it was worth $ 1 billion. However, he was no longer a billionaire in 2014. His net worth has declined significantly since 2008, when it was $ 2.3 billion. Celebrity net worth, however, still pins it at $ 1 billion.

The source of Barrack’s wealth is as a real estate investor. As the founder, president and CEO of Colony Capital, a private and multinational investment firm based in Santa Monica, California, he amassed an immense fortune. The company currently has $ 34 billion in assets under management, including $ 18 billion in 16 distressed commercial real estate and loan funds.

Barrack sold Paris Saint-Germain Football Club to the Qatar Investment Authority in 2012. He had to pay $ 25.9 million in tax penalties for selling his Costa Smeralda property to the Qatari sovereign wealth fund in 2012.

In 2010, Barrack bought Miramax, a film production company from Weinstein, for $ 660 million with help from the Qatar Investment Authority. Barrack made a quadruple profit when he sold Miramax to Qatari group beIN Media in 2016. In October of the following year, Barrack’s Colony Capital decided to invest in The Weinstein Company in order to keep it viable following the allegations of sexual misconduct against Harvey Weinstein. .

The $ 200 million in Middle East real estate and the $ 534 million in non-performing German real estate debt are two of the most successful buyouts by Lebanese immigrants. Michael Jackson’s Neverland Ranch and a $ 24 million loan to photographer Annie Leibowitz are among its most unusual assets.

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