Nicole Kidman has reportedly found a new romantic interest in Michael Reinstein, a wealthy businessman with a history marked by various business controversies. The couple was recently photographed together in Portofino, Italy, and later seen arriving at Los Angeles International Airport, signaling a potentially serious development in Kidman’s personal life following her divorce from Keith Urban.
Michael Reinstein: A Profile of a Controversial Businessman
Michael Reinstein, 54, is a multi-millionaire businessman whose career has spanned several industries, including telemarketing, fashion, and media. His business dealings have frequently attracted scrutiny and legal challenges, painting a complex picture of his professional life.
Past Business Ventures and Legal Issues
One of Reinstein’s earlier ventures was Promenade, a telemarketing company established around 1999. In 2004, the Federal Trade Commission (FTC) fined the company the equivalent of $2.4 million (£1.8 million) for alleged deceptive practices. Consumers reportedly believed they were contacted by their credit card companies for free trial memberships, only to be charged undisclosed fees. A spokesperson for Reinstein stated that he founded the company, sold it, and later reacquired it during a period of difficulty. The spokesperson also noted that there was no admission of liability or finding of wrongdoing, and Reinstein was not a defendant in the FTC action. A judgment against the company was suspended, with only a portion of the fine paid.
Reinstein was also involved with USN, a home shopping network. A former employee, Sanetta Gipson, filed a lawsuit alleging racial discrimination, claiming that only Caucasian individuals were given on-camera hosting roles. Gipson, who is African-American, sought to work as a host but was reportedly never given the opportunity. She later dismissed the lawsuit and is believed to have settled out of court. Gipson, when reached, described Reinstein as “an a**hole” and “very elitist,” suggesting he did not treat his employees well. A spokesperson for Reinstein denied that USN had any racial criteria for talent and stated the lawsuit ended without proof of the allegations.
Additionally, Reinstein was a director for Deal TV, a UK-based direct-to-consumer television company, for a brief period in 2006. The company faced criticism from the Advertising Standards Authority for airing promotions for a ‘miracle’ soap and water claiming to cure serious illnesses, including cancer and AIDS. The company ceased operations in 2008. Reinstein’s spokesman clarified that he was an investor and director for only ten weeks, and the broadcast license, which carried regulatory responsibility, was held by a separate entity.
Fashion Industry Involvement
In the fashion world, Reinstein is known for acquiring struggling brands through his private equity firm, Regent. Companies like Bally, Petit Bateau, and Escada have been among his acquisitions. This business model involves buying distressed companies, aiming to make them profitable, or extracting value from their assets. Critics, such as fashion journalist Lauren Sherman, have described him as a “caricature of a 1980s private equity raider.” Regent has faced accusations of delayed or non-payment to vendors, with reports of unpaid models at a Bally fashion show. A spokesman for Reinstein denied that vendors go unpaid, arguing that judging a distressed asset buyer by the initial condition of a company is misleading, and that most acquired businesses are restored to health.
Allegations of Personal Conduct
A significant lawsuit filed in 2022 by a former employee, David Steinhafel, against Reinstein’s company Regent, and subsequently by Reinstein against Steinhafel, brought forth serious allegations. Steinhafel, who was accused of embezzlement and fraud by Regent, filed a countersuit. In his filing, Steinhafel alleged that Reinstein displayed a “penchant for punishment and manipulation,” and reportedly referred to himself as “the Joker… sitting atop a pile of cash, f***ing with whoever I want” and “the Emperor [Palpatine] from Star Wars,” relishing control and the suffering of others. Steinhafel also alleged that Reinstein expressed a preference against hiring women due to potential maternity leave and perceived limitations related to motherhood.
The lawsuit further claimed that Steinhafel and his wife were “stalked” by individuals employed by Reinstein after their dismissal, with one instance involving Steinhafel’s wife fearing for her safety and seeking police assistance. However, a spokesman for Reinstein vehemently denied these claims, calling them “demonstrably false” and filed as “leverage.” According to the spokesman, the Steinhafels ultimately paid Regent $250,000, abandoned all allegations, and agreed to a dismissal with prejudice, indicating a lack of evidence to support their claims. The spokesman explained that the alleged “stalking” involved licensed process servers attempting to deliver legal documents, including lawsuit and tenancy notices, which the Steinhafels were reportedly evading. The Steinhafels’ lawyer maintained they stand by their allegations, stating the settlement was due to the unsustainable financial and personal toll on their family.
Nicole Kidman’s New Relationship
Nicole Kidman, 59, was previously married to country singer Keith Urban for 19 years before their divorce finalized in January. Her new relationship with Reinstein appears to be progressing, with her daughters, Sunday Rose and Faith, accompanying them on a trip to Italy. Reinstein resides in a large Beverly Hills home, estimated to be worth around £12 million. He also has connections within the entertainment industry, including associations with events for Casamigos, the tequila brand co-founded by George Clooney, a long-time friend of Kidman’s.
The public perception of Reinstein is shaped by these varied business dealings and the serious allegations made against him. As Kidman navigates this new chapter in her personal life, the spotlight inevitably turns to the controversial background of her new partner.
