10 Reasons Why The Forbes Hatchet Job On Lynn Tilton Is Nonsense

lynn tilton

Lynn Tilton, the founder of Patriarch Partners, almost made it on to the Forbes Billionaires list this year.

She didn’t, even though she assured Forbes “there’s no question I’m a billionaire,” because Forbes was only able to calculate her wealth at $544 million plus the portfolios of the various companies Patriarch Partners owns.

Forbes doesn’t seem to have been able to calculate the worth of the Patriarch portfolios yet, so of course Tilton might very well be a billionaire, but Forbes doesn’t believe she is. 

The magazine published a scathing profile of the private equity manager this week. What ended up in print is a weird, long story that reads like a personal attack on Tilton.

Some of Forbes’ suggestions about Tilton are startling if true. Others Forbes uses as examples of Tilton’s tyrannical reign over Patriarch and the companies it buys, but the business practices sound pretty standard.

Here, we round up the allegations against her and explain what they mean and don’t mean. 

She swears at people, makes sexual jokes, and hits people

She sits in meetings so that her crotch area is displayed

1. Jason Colodne sued Tilton for breach of contract. He claims that the 'cause' Tilton claims she fired him for is not the real reason she let him go.

Colodone said he was fired for appearing on a TV show. Colodne plays/is Bethenney Frankel's husband on the Bravo show 'The Real Housewives of New York.'

Tilton settled his suit, seeking $55 million in damages, in 2009.

VERDICT: No big deal; any financial firm would have done the same.

Source: Forbes

Tilton's company, Patriarch Partners, cheated clients out of hefty fees or assets

Tilton's sexuality cost her two jobs on Wall Street

Tilton structured her own sketchy CLOs and they're losing money

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.