Hedge fund manager Paul Tudor Jones defended the support he gave to Harvey Weinstein, saying he believed in the disgraced movie mogul too long.
The New York Times reported Tuesday that Jones wrote emails to Weinstein telling him the crisis over the sexual harassment allegations would “go away.” After the Times story was published, Jones sent an email to staff Wednesday afternoon explaining his relationship with Weinstein.
Jones told colleagues to consider the context in which he knew Weinstein — as a person who helped raise money for victims of 9/11 and Hurricane Sandy. Jones said he first learned about the revelations only as they began to be reported in the media.
“Harvey’s actions were horribly wrong, and in the wake of these disclosures I told him that,” Jones said in the email to staff. “I deeply believe in redemption, but what I know now is that Harvey was a friend I believed too long and defended too long.”
Jones, a former board member of Weinstein Co., advised the entertainment mogul on how he could revive his reputation, according to an Oct. 7 email obtained by the Times.
“I love you,” Jones, 63, said in that email. “The good news is, this will go away sooner than you think and it will be forgotten!”
“Focus on the future as America loves a great comeback story,” he wrote.
Jones quit the company’s board on Oct. 7, the same day he sent the email. Other directors resigned the day before.
Four years ago, Jones faced his own public-relations challenge after making sexist comments about the abilities of female traders. During an April 2013 round table at the University of Virginia, Jones said that having a baby takes away mothers’ focus on markets and endangers their trading acumen.
“As soon as that baby’s lips touch that girl’s bosom, forget it,” he said.
Jones later apologized, saying his remarks were “off-the-cuff” and that all skilled, dedicated men and women can succeed in the industry. Later that year, Jones, who rarely speaks to the press, gave at least two interviews highlighting his philanthropic nature through the Robin Hood Foundation.
Weinstein was on the board of the Robin Hood Foundation, which Jones founded, but resigned in October.
Jones is trying to make a comeback after years of subpar performance that have prompted investors to pull billions of dollars from the business Jones founded in 1980.
This article was provided by Bloomberg News.
