Updated
Updated · The New York Times · Nov 10
Concord Partners Fires Alina Habba, Voiding $50 Million Deal After Trump Outburst
Updated
Updated · The New York Times · Nov 10

Concord Partners Fires Alina Habba, Voiding $50 Million Deal After Trump Outburst

3 articles · Updated · The New York Times · Nov 10

Summary

  • $50 million of Alina Habba’s four-year contract was cut off last week when Concord Partners terminated her in a Nov. 4 letter, citing “failure to perform duties.”
  • The family company had agreed to pay Trump’s former lawyer $10 million a year plus bonuses, but she will still keep $14.5 million already paid, including an $8 million signing bonus.
  • People close to the Herrera family said her focus appeared to shift after she began dating Turkish investor Turhan Mildon earlier this year, a factor behind the firing.
  • The dismissal came days after The New York Times disclosed the deal and Trump called it “totally obnoxious and outrageous,” urging the Herrera family not to pay her.
  • Concord was created by Isabela Herrera, daughter of pardoned Venezuelan banker Julio Herrera Velutini; Habba declined comment, while a person close to her said she plans legal action.

Insights

Will a massive $14.5 million payout be clawed back after a sudden marriage allegedly derailed a corporate deal?