Business has been taken as an option for many when an official career fails to work. At other instances, there are people who run to business as a side hustle to add on their daily income. However, there are people who have taken business as the main career in their lives. One of those people is Tom Barrack. Below is the net worth of Tom Barrack in 2020.
Early Life & Biography
Tom Barrack was born Thomas J. Barrack Jr. on 28th April 1947. His grandparents were Christians and they had immigrated to United States from Zahle in 1900 (Zahle later became part of Lebanon). Although he was brought up in Culver City, California, he only learnt to speak Arabic. His father worked as a grocer while his mother worked as a secretary.
After he finished his elementary and high school studies, he joined the University of Southern California where he graduated in 1969 with a BA degree. At the University of Southern California, Barrack was a star in the national championship rugby team. Barrack later joined USC Gould School of Law and worked as an editor of the famous Southern California Law Review. In 1972, University of San Diego School of Law gave him a JD in 1972.
Tom Barrack was married to Rachelle Barrack and the two were blessed with six children. Tom Barrack resided in Los Angeles, California with his family and he is a Roman Catholic. However, his wife Rachelle decided to file a divorce in 2016.
Career, Awards & Nominations
Tom Barrack’s first job was at Herbert W. Kalmbach’s law firm as the personal lawyer of President Richard Nixon. The firm then sent him to Saudi Arabia in 1972 where he became a squash partner of the Saudi prince. At the Saudi Kingdom, he worked for the Fluor Corporation and also for Saudi princes. While in Saudi, he facilitated the opening of a diplomatic relation between Haiti and Saudia Arabia.
Since 1982, Barrack has served in many other sectors and offices some of which include; worked for the United States Department of Interior where he worked as the Deputy Undersecretary. He also worked with a number of companies which include; Robert M. Bass Group, Bass and GE Capital, Eli Broad, Merrill Launch, Koo Chen-fu and many more. He runs a number of portfolio of assets some of which include; Fairmont Raffles Hotels International, One and Only Resorts, Resorts International Holdings and many more.
Net Worth & Earnings
Tom Barrack is among the richest men in the business sector with an estimated net worth of $1.5 billion. He has been involved in a number of businesses and done a number of investments which has largely contributed to his vast net worth which is expected to continue rising as time goes.
Tom is a strong member of the Republican Party and was among the people who endorsed current US President Donald Trump during the US presidential election in 2016. He contributed a lot to Trump’s campaign. His “Rebuilding American Now” Super Pac major fundraiser raised $23 million for Trump’s Campaign.