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Henry Kravis: New York
built 257 days ago
In September 2007, KKR Financial Holdings, an affiliate, was bailed-out for $270 million by Henry Kravis and George Roberts. On February 20, 2008 it was reportedly once again forced to delay the repayment of billions of dollars of commercial paper, and was beginning a new round of talks with creditors. [13]
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Perhaps you’ve heard of the new film lampooning the lavish mansions acquired by Henry Kravis, the KKR co-founder and leveraged buyout king. After all, protesters have been idling outside Kravis’ Upper East Side apartment with flatscreen televisions attached to sandwich boards, showcasing filmmaker Robert Greenwald’s little spoof to passersby. The stunt coincided with a new campaign by the Service Employees International Union to highlight the excesses of the private capital industry, as well as the sweet fifteen percent tax rate on capital gains.
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Brave New Films held a screening of “The War on Greed: Starring the Homes of Henry Kravis” this morning in front of the KKR founder’s 625 Park Avenue apartment in an attempt to shame him into…something. Read on.
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Earlier this year, before he got married, Kravis introduced his third wife, Marie Josee Drouin, to 300 friends at a party at the Metropolitan Club in February. He had the club’s posh Garden of Babylon dining room redecorated for the occasion with garlands and a huge flowered trellis. The New York Post says he spend $100,000 for flowers alone.
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Kravis should be applauded for the transparency of his greed. It is refreshing in an age where the buyout industry has funded a new lobbying machine with the hope of keeping Congress from looking too closely at their sweetheart tax treatment.
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Last June, Kravis returned the favor when he was a no-show at the New York Public Library gala, which he was co-chairing, honoring Schwarzman. A friend of Kravis told VF, "He was pretty unhappy with the way Steve was making the industry a target."
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