Style Portraits:
TOM BARRACK — The Flying Lebanese

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An American with Middle Eastern roots, the owner of Costa Smeralda is worth 25 million dollars. According to Fortune, he is "the greatest real estate investor in the world". In Sardinia, he plays polo and gives a job to four thousand families, does business with Carraro, appreciates Soru and Berlusconi ("a genius"). His mania? Wristwatches, but he does not wear any because of politicians

By Pier Andrea Canei

"One day my father, a great life teacher and a small storekeeper in Los Angeles, grabbed me by the arm and said: "See these oranges? They are the same as everybody else's, they cost the same and are sweet the same. So if you wanna sell them, you either have to have them when others don't or you have to make your clients loyal by serving them with more care, niceness and honesty". Well, in a way I have remained an orange seller.

The oranges of Tom Barrack, this 59 years old American, tanned and smiling as he tells this story by looking at the Sardinian horizon in front of Porto Rotondo, is now worth 25 billion dollars. One of his most juicy oranges is framing our conversation: the Costa Smeralda, acquired in 2003, with its six hotels, the Golf club, the Marina of Porto Cervo and 2500 ha of coastline land purchased from Starwood hotels. Another 120 oranges are scattered in 35 countries worldwide: last May, Colony capital, the real estate investment company he founded in 1991, married with the Kingdom of the Saudi Prince Al-Waleed, creating a huge hotel realm including Raffles hotels (as well as the mythical Raffles in Singapore), Fairmount luxury resorts as well as business travellers chains like Swissotel and Delta; development plans include a major expansion in the Far East, around China where they are craving for new wealth. That's why Tom Barrack never stops: his instinct for new business opportunities brings him to travel the world restlessly aboard his private jet as a busy reaction hound. During our meeting, he looks relaxed: freshly pressed grey trousers, a fashionable, orange-colored linen shirt, shoes without stocks and coordinated belt; he arrives, hugs his local driver who clearly adores him (to those living on tourism here, Barrack is as an enlightened monarch, and he is even nice!). Then, he begins walking in the garden of the Porto Rotondo villa that he friendly seized from Renzo Persico, a lawyer and the president of the Costa Smerlanda consortium. He talks about himself, Sardinia and his dreams: "I came here 20 years ago, and I fell in love with this place right away. The beauty of these places sweeps you away, like the winds that suddenly rise: mistral, sirocco, like a gorgeous woman with her mood swings".

What I love here is also what is not here: think of places like Cannes or Marbella, suffocated by cement. If Renato Soru stops any project on the coast, it's OK with me: it means that I'm enjoying a near-monopoly in this corner of Sardinia.

Europe has a motivation problem: to find true growth areas you have to look east, from Dubai to Shanghai: the future is there.

Sure you are relaxing here, without losing anything.  In the island you also imported an elite sport that you like a lot..

Polo and Sardinia make a perfect couple: right weather, excellent horse breeding, and the same combination of glamour and sport that brings here, for instance, sail lovers.

I see here highly intelligent officials who are looking at new development models; for example, two enlightened mayors like those of Olbia and Arzachena: sure, Soru has a difficult job ahead of him. He has my esteem and I think he has all the rights to say: "you don't want to bring here the wealthy, but people who care", people who really cherish Sardinia. It could also be a tourist who takes the ferry, eats a sandwich at the bar and at the end of the day loses himself in the same sunset as a German with a 35 million euro mansion of course, infrastructure needs to be developed accordingly.

Villa Certosa? Of course! I went there and everybody should see it. Berlusconi is a genius, he created an amphitheatre all for hibiscus: when they blossom, they look like an orchestra, it is truly breath-taking. And then, 500 species of cactuses; he followed it personally and has created a wonder.

Another regular in Costa Smeralda is the former president of Figc, Franco Carraro, someone you are very well familiar with...

Carraro and I have a good relationship, both on the personal and business front. I know he is involved with the soccer scandal. I asked him to be reassured about his innocence. He remains an excellent friend and partner, until proof to the contrary.

Not at all. Here, we really feel at home. And we are proud to be one of the major employers in the island: with hotels and logistics, transport and boats, supplies of cherries and pecorino cheese, we give a job to four thousand families. But the credit goes to the Aga Khan: he invented this area. He was brilliant and created a lifestyle by the sea, where nobody went. To me, this has become a family 'hub' during the summer: when the school year ends, my wife and kids join me.

True. On average, I travel five days a week and the place where I have spent most of my time is my personal jet, a Gulfstream IV. Last year I flew over 1000 hours. But I like being always on the move : I can see globalization live and understand what they are offering: if you want to waste 200,000 euros a week to vacation on a boat, you have very many options; to me, and also to Sardinia, it is important to know what we can offer to these people so that they feel  better here than elsewhere.

My favorite story is the lion's and gazelle's. Every day, the lion wakes up and is aware that, if he wants to eat, he shall run faster than the gazelle; the gazelle wakes up and is aware that it shall run faster than the lion to survive. Bottom line: that you are a lion or a gazelle, as soon as you wake up, start running as fast as you can! I begin running every morning at 4.30.

If home is where your heart beats faster, then I choose Santa Barbara, in California, where my ranch is. Nothing to show off, just a nice estate where we rear horses, have four polo fields and make four different wines. It was built in 1928 and I got it from the Armours, a family of meat producers from Chicago. My family lives there during the school season and everybody, when I am away, has some management duties: my youngest, ten years old son, for example, takes care of dogs. We have houses also in Mougins, in southern France, and in New York; finally, palazzo Pecci Blunt in Rome, in front of the Ara Coeli; spending some time there is always a great emotion, not to mention the immense history lesson that you can take over there.

I am about to travel to Morocco for a contract to build a large resort. There too, the royal family is focused on modernization and looks at Spain: a tourist mecca that is now close to saturation, with high wages and prices and a declining service level. To me, the trend is clear: I see the Mediterranean as a big set table and so far we have had banquets only in the north; but now we are full here while in the south they are hungry and are preparing the table just now. They too will sit at the table.

You are in between the American business mindset and the Mediterranean sensitivity. How do you see Italy?

Italians get everywhere and in most cases they feel nice; unlike Americans, who are always seen as dollar imperialists no matter what. I find Italy to be a continuous source of inspiration, also thanks to a number of places that I have discovered and that impressed me; for instance, Montecatini Terme, a true reminder of the Belle Epoque.

I always try to put together the best of the classics with the best new ideas, without too much show off. My clothes are all Italian made; as for my shirts, I bought them from Siniscalchi in Milan for many years, but now I get them from some Asian tailors that offer the same quality for half the price. Some things make me smile: for example, when I see in Hong Kong the local new rich in line at Vuitton store while Europeans abroad stay in line in front of the places where they sell the best Vuitton's fakes.

You have a reputation as a watch expert but you're not wearing anything on your wrist

Being on time has an immense value to me. I try to be on time without having to look at my watch. And I love vintage Piaget watches: I collect them but I don't wear any.

Priceless watches once played a key role in a deal that you finalized in Haiti. What happened exactly?

Late 70s: a diplomatic and business mission to the court of the then dictator 'Baby Doc' Duvalier.

I was there as a mediator, with two young Saudi princes who wanted to enter into a number of diplomatic and trade agreements. One of them, at the time he was probably 24, wore this Piaget full of diamonds: it was worth 250-300.000 dollars. The dictator was listening to our proposals without really paying too much attention but he kept staring at the watch, all the time. At some point he said: 'can I see it?' The prince politely took it off and showed it to him. And he said: 'May I try it on?' 'No problem!' the prince replied. And he added: "We would be glad if you accept it as a sign of mutual friendship'. The dictator did not react as he stood up: 'Many thanks, I really thank you. I kind of forgot this, but your proposal is not interesting to me. Anyway, thanks for your visit. Bye bye'. And he disappeared. I felt really miserable but after some time the Haiti agreement was successfully signed.

You noticed it: I don't have any more watches to wear! (laughs). Jokes aside, how can you compete with Italians? Impossible! I'm so honest and normal that eventually mutual trust develops. We sit down, we chat, we do business. Like a big, multilingual family: the one that I gather here in the middle of the Mediterranean.