Tom Barrack's links to the Mueller investigation and ties to Michael Jackson, Harvey Weinstein, and Jeffrey Epstein were thrust into the spotlight on Tuesday after an activist investor published a scathing letter calling for his resignation as CEO of Colony Capital.
Blackwells Capital, which owns about 1.85% of the real estate investment firm, detailed a laundry list of Barrack's alleged shortcomings, from his iron grip on Colony and decision to pursue a merger, to his Aspen address and polo playing.
"Colony's board has given Tom Barrack too much deference and too much latitude for too long," Jason Aintabi, Blackwells' investment chief, said in the letter. "His continued, imperial reign over the company damages its credibility and business prospects and creates a tremendous overhang on the stock."
Blackwells continued: "We know of no public company board that would continue to employ a CEO who lived 900 miles from headquarters, has been persistently mired in investigations and scandals, appeared to put friendships above objective business evaluations and who had destroyed so much shareholder value."
Barrack "appears to be a magnet for famous people involved in scandals; he has had widely reported personal relationships with Michael Jackson, Harvey Weinstein and Jeffrey Epstein, for example," Blackwells said in a footnote.
(In "Fire and Fury," author Michael Wolff reported Barrack, Epstein, and Donald Trump were a "set of nightlife musketeers" in the 1980s and 1990s.)
Blackwells added that it would nominate... continue reading ==> https://tinyurl.com/uslujh5
