Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tom Barrack, the billionaire real estate investor and close friend to former President Trump, was arrested yesterday on federal charges of acting as an unregistered foreign agent for the United Arab Emirates. It's a case that touches the highest levels of American finance and power.

Axios Re:Cap goes deeper with Vicky Ward, an investigative journalist who's reported Tom Barrack through her books on New York real estate, the Kushner family and her new podcast series on Jeffrey Epstein.

Go deeper

Dan Primack, author of Pro Rata
Jul 21, 2021 - Politics & Policy

Trump confidante Tom Barrack's fall from grace

Photo illustration: Trent Joaquin/Axios. Photo: Chris Goodney/Bloomberg via Getty Images

Tom Barrack is an extraordinarily successful private equity and real estate investor, building a multibillion-dollar empire that spans data centers to hotels to telecom towers. He's also under arrest and being held in federal custody.

Driving the news: Barrack, a longtime friend of Donald Trump and chair of his 2017 inaugural committee, was charged with acting as an unregistered foreign agent for the United Arab Emirates.

Jul 20, 2021 - Politics & Policy

Chair of Trump's 2017 inaugural fund arrested on federal charges

Tom Barrack speaking on a panel in Beverly Hills, California, in 2019. Photo: Michael Kovac/Getty Images

Real estate investor Tom Barrack, a longtime ally of former President Trump who chaired his 2017 inaugural fund, was arrested Tuesday and charged with acting as an unregistered foreign agent for the United Arab Emirates, the Department of Justice announced.

Why it matters: The DOJ said Barrack attempted to advance the interests of the UAE by influencing the foreign policy positions of Trump's campaign in 2016 and, subsequently, the foreign policy positions of the U.S. government in the incoming administration.

Jul 21, 2021 - Politics & Policy

Tom Barrack indictment could strain U.S.-UAE ties

Tom Barrack. Photo: Michael Kovac/Getty Images

The arrest on Tuesday of Tom Barrack, a business tycoon and close Trump ally, for allegedly acting as an unregistered Emirati agent could complicate relations between the Biden administration and the UAE.

Driving the news: The indictment against Barrack, a real estate investor who chaired Trump’s 2017 inaugural committee, indicates he was in contact with the highest echelons of the Emirati leadership, without naming specific officials.