Actress Nicole Kidman has started dating multi-millionaire private equity businessman Michael Reinstein eight months after her divorce from country singer Keith Urban. Kidman, 59, was seen being picked up by Reinstein, 54, from the airport in Los Angeles in his black Ferrari on Thursday last week.
The couple also spent time together at the Hotel Belmond Splendido in Portofino, Italy, a former monastery featuring 53 rooms and a Dior spa in its gardens. Nightly rates at the luxury hotel range from around £3,000 to £8,000. Kidman's two daughters, 18-year-old Sunday Rose and 15-year-old Faith, joined them on the Italian trip as the group relaxed on neighbouring loungers with Aperol spritz drinks.
Reinstein resides in an 11,000-square-foot Beverly Hills mansion featuring 11 bathrooms. Built in 1933 in the 90210 zip code, the property is worth an estimated £12 million. Reinstein has never married and moves in social circles that include heiresses and billionaires.
Kidman's new relationship follows her divorce in January from Urban, her husband of 19 years. She was previously married to actor Tom Cruise. Reinstein maintains several ties to Hollywood, including attending events for Casamigos, the tequila brand co-founded by Kidman's longtime friend George Clooney.
Entertainment and business connections
Reinstein was pictured two years ago at a Halloween party with branding strategist Lara Shriftman, whose former husband was Juan Bacardi of the rum family. Shriftman later dated William Lauder of the Estee Lauder family. A spokesman for Reinstein stated that Shriftman has been a friend for 30 years and that their relationship has never been romantic.
In the fashion industry, Reinstein operates through his private equity firm Regent, which was founded in 2013. Regent buys distressed brands such as Bally, Petit Bateau, and Escada to turn them around or liquidate inventory. Puck fashion journalist Lauren Sherman described Reinstein as a private equity raider and quoted a former co-worker calling him "a big bad wolf in a suit." Sherman reported that Regent delays payments to outside vendors for up to 120 days or fails to pay them, noting that models at Bally's final fashion show were unpaid.
A spokesman for Reinstein denied that vendors go unpaid and defended his business practices. The spokesman said judging a distressed asset buyer by the condition of what he buys is like judging an ER doctor by how sick their patients are when they first see them, adding that most companies he acquires are restored to health and save jobs.
Early life and telemarketing regulatory fine
Born in 1971, Reinstein is the son of Fred Reinstein, a serial entrepreneur described in a 1985 Los Angeles Times interview as an "all-American hustler" making $100 million a year in sales, and Patti Reinstein, a philanthropist. Reinstein graduated from the University of Southern California and the Pepperdine University School of Law. He interned with the Reagan administration during the 1980s before joining talent agency ICM to represent actors.
Around 1999, Reinstein founded Promenade, a telemarketing company he later sold and reacquired during financial difficulty. In 2004, the Federal Trade Commission issued a $2.4 million judgment against Promenade following consumer complaints over deceptive credit card club fees ranging from £70 to £185. The FTC suspended the fine except for an £84,000 payment. A spokesman for Reinstein noted there was no finding of wrongdoing or admission of liability, and that Reinstein was not a named defendant.
Shopping network and British television ventures
Reinstein later established USN, a direct-to-consumer home shopping network focused on jewellery and clothing. Former employee Sanetta Gipson, an African-American technical director, filed a racial discrimination lawsuit after being denied an on-camera host position. Gipson later requested the dismissal of the lawsuit, which was settled out of court in 2006. USN spokesmen stated the lawsuit ended without proof of allegations and denied using racial criteria for on-camera talent.
Gipson recalled that Reinstein was unliked at USN and described him as elitist and unapproachable. She noted that employees usually spoke to his business partner instead, adding that Reinstein never said hello to her and called him an "a**hole." She added that because Kidman is a star, Reinstein would likely not treat her like a second-class citizen.
In 2006, Reinstein served for 10 weeks as a director of Deal TV, a direct-to-consumer television company in the United Kingdom. Deal TV surrendered its broadcast licence in 2007 after criticism from the Advertising Standards Authority for airing a TV evangelist selling miracle spring water and soap claiming to cure cancer and Aids. The company entered insolvency in 2008. Reinstein's spokesman stated he was an investor and short-term director, emphasizing that regulatory compliance belonged to another company holding the broadcast licence.
Legal battles and employee allegations
In 2022, Reinstein and Regent sued former employee David Steinhafel and his wife Stephanie, alleging fraud, embezzlement, and breach of contract. The suit claimed the couple spent company funds on £37,000 in gardening costs, an £18,000 oil painting, and a £2,500 steakhouse dinner.
Steinhafel filed a counter-suit claiming unpaid wages and alleging Reinstein exhibited hostility toward women, stating Reinstein preferred not to hire women due to maternity leave. Steinhafel also alleged Reinstein referred to himself as "the Joker sitting atop a pile of cash" and "Emperor Palpatine from Star Wars" who enjoyed controlling and manipulating others.
Steinhafel's lawsuit further alleged that he and his wife were stalked by individuals hired by Reinstein after being fired. Reinstein's spokesman stated the claims were demonstrably false and used as legal leverage. Regent dismissed its suit in December 2022 after the Steinhafels paid $250,000 and dropped their claims with prejudice. The spokesman added that the individuals following the couple were licensed process servers serving legal documents. A lawyer for the Steinhafels stated the couple stands by every allegation and settled due to the unsustainable financial and personal toll.
