NEW YORK POST:
Not only does his kid risk being expelled, but a rich dad caught up in a nationwide bribery scandal risks losing hundreds of millions of dollars for his alleged role, The Post has learned.
TPG bigwig Bill McGlashan stands to lose upward of $300 million in TPG investments after he was fired Thursday for allegedly paying for a fake athletic profile to get his son into college, The Post has learned.
The termination, which McGlashan is already fighting, would cut him off from numerous investments he helped bring to the $103 billion firm, including stakes in Airbnb and Uber, which are on the verge of lucrative public offerings, sources said.
On Thursday, TPG execs sent McGlashan a “notice of termination.”
“We will be in touch to advise you of the economic consequences of the termination of your employment,” they said, according to emails.
McGlashan, 55, promptly rejected it — saying he had resigned before they could fire him, according to emails reviewed by The Post.
“I am perplexed by your attempt to terminate me because, as you acknowledged in your e-mail, you had already received my resignation,” McGlashan retorted.