Tom Barrack

Thomas Joseph Barrack Jr.
Thomas Joseph Barrack Jr.
Born	April 28, 1947 (age 79); United States
Occupation(s)	Investor, business executive
Known for	Founder and executive chairman of Colony Capital; senior advisor to Donald Trump

Thomas Joseph Barrack Jr. (born April 28, 1947) is a prominent American investor specializing in private equity real estate and serves as the founder and executive chairman of Colony Capital, a publicly listed real estate investment trust (REIT). Barrack has maintained a longstanding close relationship with U.S. President Donald Trump, acting as a senior advisor during Trump's 2016 presidential campaign and chairing his Inaugural Committee.

In December 2024, then President-elect Trump nominated Barrack to become the United States ambassador to Turkey.

Early life and education

Barrack is descended from Lebanese Christian ancestors who emigrated from Zahlé to the United States in 1900. He grew up in Culver City, California, where his father was employed as a grocer and his mother worked as a secretary.

He graduated in 1969 with a Bachelor of Arts degree from the University of Southern California (USC), where he also played on the varsity rugby team. Barrack pursued legal studies at the USC Gould School of Law, contributing as an editor to the Southern California Law Review, before obtaining his Juris Doctor degree from the University of San Diego School of Law in 1972.

Early career

Barrack’s professional journey began at the law firm of Herbert W. Kalmbach, who served as personal attorney to President Richard Nixon. In 1972, he was assigned to Saudi Arabia, where he cultivated business connections, including ties with a Saudi prince. His work included roles at the Fluor Corporation and engagements with Saudi royalty, facilitating diplomatic initiatives between Saudi Arabia and Haiti at the behest of investor Lonnie Dunn.

During the Reagan administration in 1982, Barrack held the position of deputy undersecretary at the United States Department of the Interior under Secretary James G. Watt. His ranch served as a location for Secret Service horses during President Reagan’s nearby visits, and it was also where Watt announced his resignation. Barrack became disillusioned with government service following his congressional testimony concerning a gift related to then-Attorney General Edwin Meese’s home purchase.

Business career

By 1987, Barrack was a principal at the Robert M. Bass Group. His initial collaboration with Donald Trump occurred in 1985 when he sold Trump a one-fifth interest in Alexander's department stores. In 1988, Trump agreed to pay Barrack $410 million for full control of the Plaza Hotel, although both assets eventually entered bankruptcy proceedings.

Barrack established Colony Capital in 1990, initially funded by Bass and GE Capital, with later investments from figures such as Eli Broad, Merrill Lynch, and Koo Chen-fu. Concentrating on distressed properties, including assets from the federal Resolution Trust Corporation, he achieved 50% profits within his first two years. His portfolio has included $200 million invested in Middle Eastern real estate, $534 million in non-performing German real estate loans, and a $24 million loan to photographer Annie Leibovitz. Additionally, he owns Neverland Ranch, formerly owned by Michael Jackson. Through Colony Capital, Barrack manages assets valued at $25 billion, including holdings such as the Fairmont Raffles Hotels International group across Asia, the former resort owned by the Aga Khan in Sardinia, along with Resorts International Holdings, One&Only Resorts, and Atlantis.

During the Great Recession, Colony American Homes faced scrutiny over rent increases, eviction practices, and inadequate property upkeep.

Barrack negotiated drilling agreements with Mana Al Otaiba and facilitated in 2009 the sale of a $41 million interest in the Raffles L'Ermitage hotel to the Abu Dhabi Investment Authority via Otaiba’s son, Ambassador Yousef Al Otaiba.

In 2010, Barrack acquired $70 million of debt on 666 Fifth Avenue owed by Jared Kushner. Following an intervention prompted by Trump, Barrack agreed to reduce Kushner’s obligations, helping him avoid bankruptcy.

As of September 2011, Barrack was ranked as the world’s 833rd wealthiest individual and 375th richest in the United States, with an estimated net worth of $1.1 billion. By 2014, he had lost billionaire status.

In 2012, Barrack sold ownership of Paris Saint-Germain F.C. to the Qatar Investment Authority. He also paid €22 million to resolve tax issues related to his sale of a Costa Smeralda resort to Qatar’s sovereign wealth fund.

In partnership with Qatar Investment Authority in 2010, Barrack acquired film production company Miramax for $660 million. He later sold Miramax in 2016 to Qatar’s beIN Media Group at approximately four times the acquisition price. In October 2017, Colony Capital attempted an investment in The Weinstein Company amid sexual misconduct allegations against co-founder Harvey Weinstein; however, this transaction fell through partly because Colony insisted that Weinstein not receive any financial benefit from it.

Colony NorthStar merger

On June 3, 2016, Barrack's company, Colony Capital, announced a three-way all-stock merger uniting with NorthStar Realty Finance and NorthStar Asset Management. The combined organization, rebranded as Colony NorthStar, oversaw $58 billion in assets, ranking as the fifth-largest real estate manager worldwide. Regulatory documents revealed a pro-forma equity market value of $7 billion and a total capitalization amounting to $17 billion.

By February 28, 2017, leadership forecasted full-year core funds from operations ("FFO") in the range of $1.40 to $1.58 per share, with dividend payments expected at $1.08 per share. Nevertheless, updated FINRA rules on fee transparency for REITs compelled Colony NorthStar to disclose client fees, which hindered its capital-raising capabilities. The merger's viability relied heavily on fees generated by retail management firms aggregating $5.2 billion; however, clients opposed the fee disclosures mandated under the new regulations.

On March 1, 2018, Colony NorthStar reported core FFO for 2017 at $1.16 per share—22% below initial guidance—and reduced dividends by 60% to $0.44 per share while recording a $375 million impairment in Investment Management. The stock price fell 23%, closing at $6.00 and lowering market capitalization to roughly $3.2 billion—about one-third of its pro-forma valuation. By March 10, 2020, shares ended at $3.41, placing the company's value near $1.7 billion.

Other

In 2017, Barrack divested a $70 million interest in One California Plaza to an investment fund linked to the Abu Dhabi crown prince. Within the initial eighteen months of the Trump administration, Colony NorthStar secured 24% of its $7 billion investment from sources in the United Arab Emirates (UAE) or Saudi Arabia.

Revelations from the Paradise Papers showed Barrack utilized entities based in the Cayman Islands to channel pension fund investments into distressed real estate and transfer funds to Colony's parent company.

He holds a trustee position at the University of Southern California and has served on multiple boards including those of Accor, Kerzner International, First Republic Bank, Continental Airlines, Korea First Bank, and Megaworld Properties & Holdings. In recognition of his contributions, French president Nicolas Sarkozy honored him with the title of France's Chevalier de la Légion d'honneur.

Political activity

Barrack publicly supported Donald Trump during the 2016 presidential race and played a key role as a fundraiser through the "Rebuilding America Now" Super PAC, which accumulated $23 million in donations. He advised Trump to appoint Paul Manafort as campaign manager, having known Manafort since the 1970s. In 2007, Barrack lent Manafort $1.5 million to refinance his Hamptons residence.

During 2016, Barrack communicated with UAE Ambassador Yousef Al Otaiba, emphasizing Trump's business interests in the UAE and facilitating introductions to Jared Kushner. He relayed UAE concerns regarding modifications to the Republican party platform related to redacted sections of 9/11 Commission documents.

Barrack delivered a speech at the 2016 Republican National Convention and facilitated a meeting between Trump and Qatar’s Emir; however, subsequent Gulf investments associated with Barrack’s firm excluded Qatar. Following Trump's election victory, Barrack continued serving as an intermediary with Arab leaders.

As chairman responsible for Trump's 2017 inauguration, Barrack successfully raised over $100 million—doubling prior fundraising records. He engaged Rick Gates to assist with inauguration efforts; Gates was later dismissed after indictment.

In 2017, despite controversy surrounding immigration policies, Barrack publicly maintained his support for Trump and denied statements attributing negative views of Trump to him.

He was interviewed during the Special Counsel investigation into Russian interference in the 2016 election concerning connections involving Manafort, Gates, Konstantin Kilimnik, the Trump campaign team, transition activities, and inauguration financing.

Throughout both the campaign and transition phases, Barrack kept communication lines open with UAE officials such as Rashid al-Malik and Yousef al-Otaiba. A report published in 2019 disclosed that Barrack shared drafts of Trump's energy policy speech with Malik for approval by Emirati and Saudi authorities before forwarding it to Manafort.

In 2021, Barrack denied any role in Trump's pardon of Robert Zangrillo—an investor implicated in the 2019 college admissions scandal—though White House records listed him as endorsing that pardon.

Reports indicate that UAE officials directed Barrack to back former congressman Steve Stockman's nomination as US ambassador to the UAE early in 2017; this initiative was halted following Stockman's arrest over charity fund misuse.

Indictment on Foreign Lobbying Charges and Subsequent Acquittal

On July 20, 2021, Tom Barrack and his associate Matthew Grimes faced indictment for serving as agents of a foreign government, obstructing justice, and providing false information to federal authorities. Barrack was detained for two days before being released on a $250 million bond, which included $5 million in cash collateral. In May 2022, the charges were broadened to claim that Barrack attempted to secure investments totaling hundreds of millions of dollars from the United Arab Emirates while unlawfully lobbying the Trump administration on their behalf.

During an October 2022 interview conducted by the State Department to evaluate Barrack’s potential national security risk as an ambassador, he omitted the identities of four Emirati individuals who orchestrated his lobbying activities for the UAE government, only disclosing Al Waleed bin Talal Al Saud, Nacho Figueras, and Roberto Hernandez Ramirez.

On November 4, 2022, both Barrack and Grimes were found not guilty on all counts.

Trump Administration

In December 2024, Donald Trump nominated Barrack to serve as the United States ambassador to Turkey. The Senate confirmed his appointment by a vote of 60–36 on April 29, 2025. Barrack formally presented his diplomatic credentials to President Recep Tayyip Erdoğan on May 14, 2025. Shortly thereafter, on May 23, 2025, he was designated as the United States Special Envoy for Syria. In this capacity, he significantly contributed to negotiating the July 2025 ceasefire between Israel and Syria amid conflicts in Southern Syria. His efforts included advocating for the disarmament of Druze, Bedouin, and Sunni groups and promoting a cohesive Syrian national identity with backing from Turkey and Jordan.

Personal Life

Barrack entered into marriage with Rachelle Roxborough in 2014; the couple divorced two years later in 2016. He is a father to six children and his family resides in Los Angeles, California. Among his properties is a 1,200-acre mountain ranch near Santa Barbara, California, alongside ownership of Happy Canyon Vineyards located within the Happy Canyon of Santa Barbara AVA and a tasting room situated in downtown Santa Barbara. A practicing Roman Catholic, Barrack acquired a Santa Monica residence in 2014 for $21 million and sold it subsequently for $35 million—the highest sale price recorded in that area. In 2017, he purchased a $15.5 million home in Aspen, Colorado.

Awards and Honors

In 2000, received the Golden Plate Award from the American Academy of Achievement
In 2005, honored with the Entrepreneur of the Year Award by the Lloyd Greif Center for Entrepreneurial Studies
In 2010, bestowed the title Chevalier de la Légion d’Honneur by the Government of France