1 all the time, coddled and catered to like some members of the business elite. The company reported a 2.5% increase in annual net sales and also announced plans to open a $43.3-million french fry processing facility in northeast China. Business must be hopping for Katz's private drugstore empire. Pierre Karl and rik Pladeau: $480 million. In April 2013, Bronfman was one of 100 prominent American Jews who sent a letter to Israeli Prime Minister Benjamin Netanyahu urging him to "work closely" with Secretary of State John Kerry "to devise pragmatic initiatives, consistent with Israel's security needs, which would represent Israel's readiness to make painful territorial sacrifices for the sake of peace. Flatt, who became chief executive in 2002, has accumulated stock worth another US$2.5 billion. He's Montreal's point man in the unusual proposal to split the Tampa Bay Rays home games between the two cities. We are not involved in day-to-day operations of our portfolio companies, preferring to delegate responsibility to the management team. celebrated the groundbreaking of the $18-million Rudy Bratty Centre Markham Family YMCA, set to open in a year. Only the transactions in Open Market or Private Sale at the market prices are included. As a direct beneficiary of the fortune created from the Seagram empire during its 80 year period under Bronfman control, the family office multiplied the value of the Seagram cash flow by continually reinvesting in a myriad of ventures, ranging from chemical production to real estate. The largest Canadian pharmaceutical company claims to have made the largest pharmaceutical investment in Canadian history: in November, Sherman's Apotex Inc. invested $627 million to open four new R&D and production facilities in the Toronto area and created 1,500 new scientific and engineering jobs. Bronfman, whose father Charles was the original owner of the Expos, is part of a group spearheading effort to return baseball the city. With an estimated net worth of $39.5 billion, David Thomson, chairman of media and publishing group Thomson Reuters Corp., is the wealthiest person in Canada, that's according to CEOWORLD magazine's Canada Rich List Index For 2020. Claridge, founded in 1987 by Stephen Bronfmans father Charles Bronfman, and its predecessor company, Cemp Investments Ltd., have been active private equity investors for over five decades. It's been a wild ride for the Calgary mining promoter who saw his personal net wealth skyrocket 250% in last year's Rich 100. With an estimated net worth of $2 billion (as of 2013), Bronfman was ranked by Forbes as the 14th wealthiest Canadian and 736th in the world. Bad things come in threes: first Moody's Investor's Service announced on Nov. 12 that it was downgrading Bombardier debt to junk status, then its Class B shares hit a decade low of $2.53 on Nov. 15, and finally a Bombardier regional jet exploded and crashed into a Mongolian lake on Nov. 21, killing 54 people in China's deadliest aviation disaster since 2002. Specs 8,085 square feet, 5 bedrooms, 7 bathrooms. Rays owner Stuart Sternberg has praised Bronfman, and vice versa. Making an impact. The company also handed over $15 million to $20 million to rename Edmonton's hockey arena Rexall Place, and hopes the nickname the Drugstore catches on. Combined, the seven companies won US$260 million worth of contracts. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. The power couple continued to focus on work this year. Bronfman took the head of the private equity firm Claridge and has served as its CEO since 1997. Bronfman completed his undergraduate studies at Williams College and returned to Montreal in 1986. According to the SEC Form 4 filings, Stephen R Bronfman has made a total of He was gutted when his beloved Expos left for Washington, D.C. after the 2004 season. Tom Ford. Since the departure of the Expos, he has been involved in initiatives aiming to bring Major League Baseball back to Montreal. The family, led by Stephen's grandfather Samuel, began distilling and selling cheap booze, sometimes using fake labels like Johnny Walker instead of Johnnie Walker. and As the Liberal Party's chief fundraiser, Bronfman helped get Canada's prime minister Justin Trudeau elected in 2015. There will be no preferential seating for the real estate mogul at Canucks hockey games, after all. The most-recent trade in SunOpta Inc is the [14] a net Claridge has thrived through many economic cycles. Because she is the youngest daughter of a billionaire, she has had more exposure to the outside world. . The diamond prospector managed to avoid publicity for two years before the media discovered he had donated $30 million worth of shares in Archon Minerals Ltd. to the Sea to Sky University in Squamish, B.C., Canada's first private secular non-profit university. With his name and family wealth (his father, Charles, is worth an estimated $2.8 billion), Bronfman could have opted for a far glitzier lodge on a famous river anywhere in the world. [1] About 285 guests attended the lavish ceremony. He and his partners have identified a downtown site for a new outdoor stadium. Majority investments requiring approximately $15-$30 million of equity contribution. He and his wife have given away millions of dollars to educational, cultural, environmental and Jewish groups through the Claudine and Stephen Bronfman Family Foundation. In 2000, Stephen's cousin Edgar Bronfman Jr. sold the liquor business in favor of the entertainment industry, a disastrous financial move that at one point cut the family's $6.5 billion net. Stephen Bronfman was a young boy when the Expos first arrived in Montreal. In February, the McGill University faculty of management's 24th annual Management Achievement Award honoured Currie, former president of George Weston Ltd., for his business leadership and contributions to the community. The most recent stock trade was executed by Jill Barnett on 22 April 2023, trading 20,000 units of STKL stock currently worth $165,000. We have the capability to underwrite larger transactions and we are willing to work with partners. , , Advertisement . Paul Bronfman: BCE's $3.38 Billion Astral Media Takeover is 'Bittersweet' The acquisition of the Canadian radio and TV giant, which operates HBO Canada, caps off a long and successful . "It was a family tragedy."[3][6]. "That paper loss is among the largest sustained by a single family, ever," Fortune magazine. 79. Stephen Bronfman net worth is $10 Million Stephen Bronfman Wiki: Salary, Married, Wedding, Spouse, Family . After graduating from Williams College in Massachusetts in 1986, he worked in the Expos' marketing department for a short time. "Montreal is a city with four million people, but the Bronfmans don't get lost in the noise," Moore said. Stephen R Bronfman is the director of SunOpta Inc. He wants a new team so that the next generation of youngsters and adult fans can make similar memories. 37. He also had his family's first home in Canada a dilapidated coal shed in Deloraine, Man. Katz Group Canada Ltd. is planning on spending between $50 million and $100 million a year building and renovating stores. Pattison and his guests had a scare this September when they were evacuated from his 150-foot luxury yacht after a fire broke out in the engine room. Joseph and Ted Burnett: $1.08 billion. A November RBC report says there is a diminishing pool of potential first-time buyers in Toronto. Contact Graham Brink at gbrink@tampabay.com. The high-profile guests included former B.C. The North American construction boom kept the IKO Group, the family-owned roofing supply business, very busy in 2004. Stephen R Bronfman Net Worth What's Stephen Bronfman's mailing address? It's not all in the family anymore. But watch out, Peter: the darling is already starting to slide. Our portfolio teams are put together to reflect a unique mix of experience and entrepreneurial spirit, which has proven to be extremely efficient. Subscribe to our free Business by the Bay newsletter. Both things are fundamentals of living for the soon to be 50-year-old businessman, philanthropist and father of four. The older son of billionaire Li Ka-shing blamed the unions. Our direct private equity portfolio spans food and restaurants, media and entertainment, real estate, and technology. The family's publicly traded business, Samuel Manu-Tech Inc., is currently experiencing record quarters. Selectively partnering with the best managers worldwide. Global perspective enables us to identify sectors with potentially better opportunities, make key introductions to new markets, recruit new personnel, and make acquisitions. The combined wealth of the top 46 [] They divorced in 2011, on amicable terms, celebrating their divorce with a lavish "divorce party. 96. Charles Bronfman, PC CC (born June 27, 1931) is a Canadian-American businessman and philanthropist[1] and is a member of the Canadian Jewish Bronfman family. He will stay on as executive chairman. 56. In October, he was advised by the RCMP that his company, Royal Group Technologies, was part of an investigation into allegations it deceived or defrauded shareholders regarding money transferred to a luxury Caribbean resort controlled by De Zen. This fall, it announced it was selling $900 million worth of notes to partially fund the redemption of $1.2 billion worth of debt securities. We are not only chosen for our capital, but also for the type of partnership and guidance we can offer. In 2008, married Roche, an architect, in New York City. In December 2021, The Washington Post reported that Bronfman funded a Cayman Islands trust that is among the investors in Pretium Partners which is behind Progress Residential, a firm that "reaps big profits from stressed American renters amid national affordability crisis. Cliff, director and former president of family-owned construction conglomerate Ledcor Group of Cos., ramped up operations at his two vineyards in California's Napa Valley. Shareholders of Cara Operations Ltd., the Phelan family empire founded in 1883, voted in February to allow sisters Gail Regan and Rosemary Phelan, and their niece, Holiday Phelan-Johnson, to take the $1.1-billion company private. From 1999 to 2001, Bronfman was the first chairman of the United Jewish Communities, the merged North American organization comprising United Jewish Appeal, the Council of Jewish Federations and United Israel Appeal. ", "Honorary Degree Recipients | Board of Trustees | Brandeis University", "Honorary degree citation - CharlesBronfman", "JTS Commencement Recognized Graduating Class of 2017 with Address from Chancellor Arnold M. Eisen - Jewish Theological Seminary", "City of Montreal honours businessman, philanthropist Charles Bronfman - Montreal | Globalnews.ca", https://en.wikipedia.org/w/index.php?title=Charles_Bronfman&oldid=1149920578, Canadian people of Russian-Jewish descent, American people of Russian-Jewish descent, Naturalized citizens of the United States, Members of the King's Privy Council for Canada, Articles with dead external links from February 2023, Short description is different from Wikidata, Pages using infobox person with multiple parents, Pages using embedded infobox templates with the title parameter, Creative Commons Attribution-ShareAlike License 3.0. Our approach can appeal to family-owned businesses and select public and sponsor-owned companies. The family went on to run the Seagram Company, with brands like VO, Crown Royal and Chivas Regal. Our executives have distinguished international track records with large and small organizations in diverse sectors. Now that daughter Belinda has left Magna for a seat on Parliament Hill, he seems to have forgotten his former political ambitions. Bronfman was named in the Paradise Papers in 2017. With an estimated net worth of $2.5 billion (as of 2021), Bronfman was ranked by Forbes as the 27th wealthiest Canadian and 1,249th in the world. Forbes puts Charles Bronfman's net worth at $3.15 billion CAN ($2.5 billion US). [12], Bronfman is chairman of the Andrea and Charles Bronfman Philanthropies Inc.,[14] a family of charitable foundations operating in Israel, the U.S., and Canada. Then global investors bought in", "Secret money. In 2017, he was caught up in the Paradise Papers scandal. He was educated at Selwyn House School in Montreal, Trinity College School in Port Hope, Ontario, and McGill University. Now comes the hard work of crunching the numbers to see if the idea makes financial sense, and convincing the city, the province of Quebec and the residents that it's worth the risk. The deal went sour and the Bronfman family fortune plunged from $6.5 billion to below $3 billion. Maple Leaf Foods Inc. gobbled up Schneider Foods in April for $500 million. Stephen R Bronfman made Rogers Wireless made headlines this fall when it purchased Microcell Telecommunications Inc., the parent company of Fido, for $1.4 billion. Public equities managed funds are comprised of Canadian equity and foreign equity using a combination of active and index-replication strategies. We have a longer-term outlook than most investors. the Director of SunOpta Inc and owns about 5,389,288 shares of SunOpta Inc (STKL) stock worth over $44 Million. Ben Bronfman was born in New York, New York, and attended . Simple investment structures meet the unique needs of sellers. Schwartz's holding company, Onex, is awash with cash but he won't speculate on new acquisitions. Flat and agile operating structure enables us to make decisions quickly and provide prompt feedback. Reisman's pride, Indigo Books & Music, is suffering quarterly losses and has decided to focus less on books and more on gifts. Stephen Bronfman (born in Montreal) is a Canadian businessperson. He is best known for his $50-million contribution to UBC in 1998. sale other: See Footnote 1 Engaged Capital Special Situation Fund, Lp It generates maximum revenue from the Plant-Based Foods and Beverages segment. Headquartered in Montreal, the company became the largest producer and distributor of distilled spirits in the world. In 2000, Stephen's cousin Edgar Bronfman Jr. sold the liquor business in favor of the entertainment industry, a disastrous financial move that at one point cut the family's $6.5 billion net worth to about $2.9 billion. Chagnon had $100 million invested with the fund. Despite the early victory, the team was awful, losing 20 games in a row and eventually tying for the fewest wins in the league that season. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. In March, Irving Oil Ltd. was the first Canadian company to be named North American Refiner of the Year by Texas-based Hart Energy Publishing, a major energy sector publisher. Bronfman is adding to his family's wealth. Letsgetstarted. And having roots. In 1998, Steven Spielberg spoke about his personal religious journey, and later the group discussed Jewish summer camps. York University bestowed an honorary doctorate on the media-shy founder of Teknion Corp., the office furniture company that first produced a tilting chair for under $100. Claridge represents the interests of the Stephen Bronfman family and is actively involved in the management of a diverse portfolio of investments in private equity, hedge funds, public equities, and real estate. But with shock jock Howard Stern in the mix, the group might be permanently off-air. brought Property tycoon Paul Reichmann stepped down as CEO of family holding company Reichmann International in October, passing the torch to his son, Barry. Minto president Roger Greenberg denied any involvement. Money poured in. He doesn't seek the spotlight, but it doesn't scare him either, said Karl Moore, a radio host and associate professor at Montreal's McGill University, who has known Bronfman for about 15 years. a net Bronfman has said that he wasn't interested in business as a young man. During the past 18 months, 2,284,800 shares of SunOpta Inc (STKL) were sold and 71,722 shares were bought by its insiders, resulting in a net Targeted networks and partnerships allow the foundation to build on the best practices that answer needs with concrete solutions and that broaden its reach. In October, Kolter Property Co.'s Toronto office portfolio was sold to German investors for $492 million. We use conservative leverage and construct optimal capital structures to provide sufficient flexibility to maneuver through economic cycles and reinvest cash flows to grow the business. Potter thrilled more than 1,500 people at the Brockville Flying Club's semi-annual fly-in breakfast when he flew by in his 1945 Spitfire, bringing the plane low for the crowd to gawk. In September, Weston's supply of Wonder Bread became tenuous as its supplier, Interstate Bakeries Corp., filed for bankruptcy protection, blaming diet preferences, heavy debt and high costs. Hard-working and honest, our staff is entirely committed to growing your business in a way that is as enjoyable as it is profitable. Bronfman is closer to that dream than ever. A track record of success in building companies across several sectors. Our portfolio companies leverage the relationships that the Bronfman family have built through generations of doing business. [3], In 1991, Bronfman with billionaire Leslie Wexner formed the "Mega Group",[12] a loosely organized club of some the wealthiest and most influential businessmen who were concerned with Jewish issues. Stephen Bronfman runs the investment firm founded by his father, Claridge. Creating a legacy. of 42,714 shares made by David Largey Bronfman completed his undergraduate studies at Williams College and returned to Montreal in 1986. Bronfman said he is Canadian in his heart but sought his dual citizenship in order to vote in the United States. Unlike institutional funds, we do not have multiple committees to reach a consensus to obtain required authorizations. Claridge challenges its portfolio teams to excel and, through respectful and symbiotic relationships, we tend to complement our partners well. This investment adviser does not provide advice to individual investors. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. [2] Biography [ edit] Bronfman was born into a Jewish family in Montreal. of 2,213,078 shares. Fruit-Based Foods and Beverages include individually quick frozen(IQF) fruit for retail(including strawberries, mango), IQF and bulk frozen fruit for foodservice (including purees, fruit cups, and smoothies), and custom fruit preparations for industrial use. In 1990, he enrolled in Montreal's Concordia University to study geology, but the business bug was starting to take hold. Larco Investments, owned by the Lalji family, is courting controversy in Vancouver as stores in its 240,000-square-foot development, dubbed Canada's first lifestyle centre, begin to open. Our sixth annual ranking of Canada's wealthiest people. Meanwhile, the board of Canadian Natural Resources Ltd. (in which he has large holdings) delayed a decision to approve its massive $10.6-billion Horizon oilsands project in order to take a closer look at cost overruns. About 285 guests attended the lavish ceremony. Majority or significant minority equity investments. We are differentiated by our entrepreneurial family business mindset, flexible investment approach, global relationships, value creation capabilities, strong integrity, use of reasonable leverage, and long-term investment horizon.