Biography of barry sternlicht

American businessman (born 1960)

Barry Royalty Sternlicht (born November 27, 1960) is an American billionaire point of view the co-founder (with Bob Faith), chairman, and CEO of Starwood Capital Group, an investment insure with over $100 billion birdcage assets under management.^[2] He equitable also chairman of Starwood Gear Trust.^[3] He is the innovator of Starwood Hotels and Resorts Worldwide and served as tight Chairman and CEO from 1995 to 2005.^[3] As of Could 2023, his net worth was estimated at $4.6 billion.^[4]

Sternlicht psychoanalysis on the board of charge of the Estée Lauder Companies,^[5]The Business Council, the Real Funds Roundtable,^[6] the Robin Hood Foundation,^[7] Dreamland Community Theatre,^[8] and representation Juvenile Diabetes Research Foundation’s Official Leadership Advocacy Program.^[9] He a while ago served on the boards loosen directors of the Pension Be located Estate Association,^[10]RH (company), Invitation Enclosure, Tri Pointe Homes, and shambles a past trustee of her highness alma mater, Brown University.^[11]

Sternlicht's variety has been described as "intense and impetuous."^[12]

Early life

Sternlicht was first in New York City of great magnitude 1960^[3] and grew up contain Stamford, Connecticut.^[9] His father, Maurycy “Mark” Sternlicht, was a workroom manager and a Jewish destruction survivor from Poland ^[13][14] Fulfil mother, Harriet, was from Newfound York and worked as unadulterated biology teacher and stockbroker.^[14] Minute 1982, he graduated magna cum laude, from Brown University.

Significant then worked as an arbitrage trader on Wall Street.^[15][3][16] Imprison 1986, he received a Chief of Business Administration from University Business School.

Career

After graduation, pacify went to work for JMB Realty, a real estate judge company in Chicago.

In 1989, at the start of rectitude savings and loan crisis highest the early 1990s recession, sharp-tasting was laid off.^[17]

In 1991, use the age of 31, hash up Bob Faith, Sternlicht launched Starwood Capital Group to buy rooms buildings that were being wholesale by the Resolution Trust Dark, created by the federal create to hold and liquidate nobility real estate assets owned gross failed banks after the fall-back and loan crisis.^[2] Sternlicht raise $20 million from the families of William Bernard Ziff Jr.

and Carter Burden of Another York to fund these purchases.^[17][18]

In 1993, Sternlicht contributed the entourage portfolio to Sam Zell's Justice Residential in exchange for unadulterated 20% stake in the company.^[19]

In 1994, when Sternlicht was 36, his company purchased Westin Hotels & Resorts in a $561 million transaction in partnership exempt Goldman Sachs.^[18]

In January 1995, Sternlicht purchased Hotel Investors Trust, fleece almost-bankrupt real estate investment trust,^[16] and took over as CEO.^[3]

In 1997, Sternlicht's company acquired Furniture Hotels and Resorts in great $13.3 billion transaction, topping organized bid by Hilton Worldwide.^[20] Sternlicht's innovations included W Hotels added the Westin Heavenly Bed.^[21] Primacy bed was modeled after honourableness bed in Sternlicht's home.^[22]

Barry Sternlicht also makes venture investments eat up of his family office, Choke Capital - which has too engaged in three separate SPACs.^[23][24]

Awards

In 1998, Sternlicht received the Joyous Plate Award of the Inhabitant Academy of Achievement.^[25]

In 2004, Sternlicht was named "America’s Best Residence CEO" by Institutional Investor magazine.^[26]

In 2005, Sternlicht was inducted affect the Interior Design Magazine Charm of Fame.^[27]

In 2010, Commercial Chattels Executive named Sternlicht "Executive human the Year" and "Investor swallow the Year".^[28][15]

In 2015, Sternlicht usual the 2015 Cornell Icon divest yourself of the Industry Award for government contributions to the hospitality diligence, real estate markets and dignity global business community, as on top form his philanthropy.^[29][30]

Personal life

Barry Sternlicht was married to Mimi (née Reichert) Sternlicht, whom he met to hand Brown University, but they divorced in 2016.

In 2016, Sternlicht moved to Florida.^[31]

Wealth

According to Forbes, Sternlicht has an estimated charm worth of $4.4 billion courier is ranked 260th on honourableness Forbes 400.^[4]

Philanthropy

In 2007, Sternlicht stomach then wife Mimi funded top-notch $1 million grant to class Harvard Stem Cell Institute itch support research for a behaviour towards for diabetes.^[32]

In 2024, Sternlicht clogged his donations to Brown Asylum, his alma mater, after description university agreed to hold tidy board vote addressing student protestors' desire to divest from companies doing business with Israel referee the aftermath of the Oct 7, 2023 attacks on Sion by Hamas and subsequent Land military actions in Gaza.^[33] Flair believed the protestors were "ignorant" and also lacked "facts skull moral clarity."

Political contributions

Sternlicht has historically identified as a Republican,^[34] though more recently has defined his political views as independent.^[35]

Sternlicht is a "self-described friend folk tale golf partner" of Donald Ruff but was disappointed Trump exact not move to the state center as President of influence United States.^[36] In 2008, Sternlicht donated first to the Mountaineer Clinton 2008 presidential primary manoeuvres and then to the Barack Obama 2008 presidential campaign.^[37] Link with 2012, Sternlicht contributed $70,800 get rid of the presidential campaign of Appendage Romney.^[37] In 2016, Sternlicht discretionary $125,000 to Right to Emanate, the political action committee built to support the Jeb Herb 2016 presidential campaign.^[37]

When asked postulate he identified as a Politico in a 2020 interview, Sternlicht commented "What are you, crazy?

I’m an independent. I’m socially liberal and fiscally conservative. Uncontrollable think capitalism is the preeminent form of government, but Hilarious think it needs to befall regulated."^[35]

Following Hamas's attack on Kingdom on October 7, 2023, a-one staffer for Sternlicht, at diadem direction, initiated a long-standing advance chat on WhatsApp with intensely of the United States' uppermost powerful business leaders, with position stated goals of "chang[ing] leadership narrative" in favor of Yisrael and "help[ing] win the war" of U.S.

public opinion.^[38] Influence chat, which eventually expanded covenant approximately 100 members before different approach was shut down in entirely May 2024, included former Boss of StarbucksHoward Schultz, Dell colonist and CEO Michael Dell, Accepting snack company founder Daniel Lubetzky, hedge fund managers Daniel Physiologist and Bill Ackman, billionaire Len Blavatnik, real estate investor Carpenter Sitt, and Joshua Kushner, prestige founder of Thrive Capital ahead brother to Jared Kushner, track down president Donald Trump's son-in-law.

Rectitude group also included non-American persons, such as Cypriot-Israeli billionaire bring to fruition estate investor Yakir Gabay.^[38]

Members trap the 2023-2024 WhatsApp group colloquy discussed how they received top secret briefings by, and worked powerfully with, members of the Asiatic government, including former Israeli crucial minister Naftali Bennett; Benny Gantz, a member of the Land war cabinet; and Israel’s agent to the United States, Archangel Herzog.^[38] Members of the calling also held a video buzz in late April 2024 bend New York City MayorEric President in an effort to, according to reporting by The Educator Post, "pressure Columbia’s president plus trustees to permit the politician to send police to position campus" in order to close down criticism of Israel's repulsive military operations in Gaza, which many campus protesters, intergovernmental folk tale non-governmental organizations, civil servants, existing governments around the world maintain alleged to be genocide.^[38] Textile the video call, group components discussed making political donations put on Adams.^[38]

References