Having won the bid to host the golf event in 2001, Matthews is spending upward of $26 million to update the Wentwood Lakes course with underground cabling for wireless cameras and to build an 85,000-square-foot clubhouse. Making an impact. "[4] The scheme was described as an effort to profit from the 2008 housing crisis by "buy[ing] tens of thousands of foreclosed homes across the U.S. sunbelt and rent[ing] them to heavily-indebted Americans who cant get a mortgage."[5]. Clare Bronfman net worth: Clare Bronfman is an American equestrian who has a net worth of $500 million. "That paper loss is among the largest sustained by a single family, ever," Fortune magazine. The family's trials and tribulations have kept them in the news. Gururaj (Desh) Deshpande: $346 million. Or else I would marry a very rich wife. Harrison McCain, the New Brunswick farm boy who helped turn McCain Foods Ltd. into one of the world's largest frozen food companies, died in a Boston hospital in March, at the age of 76. He hopes the deal gets done, so that he can attend opening day with his 88-year-old father. 48. 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. But so far, the US$2.3-billion acquisition has only managed to drag first-quarter earnings down by 29%. Stephen R Bronfman is the director of SunOpta Inc. Principal owners of the Washington Nationals franchise, Montreal Alouettes/Concordes principal owners, Partnership for Excellence in Jewish Education. He wants a new team so that the next generation of youngsters and adult fans can make similar memories. The secretive founder and president of Future Electronics is a major benefactor of Alcor Life Extension Foundation, and it's rumoured he will have his body frozen at death. 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. Stephen Bronfman is big on family. Our third-party managed funds include long only public equities, hedge and private equity funds. Buyer Jeremy Bronfman. Specs 8,085 square feet, 5 bedrooms, 7 bathrooms. Maple Leaf Foods Inc. gobbled up Schneider Foods in April for $500 million. All Rights Reserved. Our executives have distinguished international track records with large and small organizations in diverse sectors. With satellite radio growing by leaps and bounds in the United States, Slaight's Standard Broadcasting Corp. partnered with CBC/Radio Canada and Sirius Satellite Radio in February to bring the digital service to Canadians and convince the CRTC of its merits. In recent years, as Bronfman has tried to bring baseball back to Montreal, he's spoken longingly about growing up with the Expos meeting players, reading box scores, the move to cavernous Olympic Stadium. In a 2006 article, Forbes magazine put it this way: "If the Bronfmans are Canadian royalty, Stephen Bronfman is the prince you've never heard of.". sale Advertisement . Stephen Bronfman, 55, rarely speaks publicly about his family's early history and has largely steered clear of the recent controversies. 79. The former president of Moffat Communications and one-time co-owner of the Winnipeg Jets predicted in January that unless NHL players are willing to take a significant pay cut, no mid-size city will ever be able to afford a pro hockey team. About 285 guests attended the lavish ceremony. In September 2016, Stephen Bronfman helped host a $1,500-a-ticket fundraiser for Trudeau in Westmount, an English-speaking suburb of Montreal that is one of the wealthiest enclaves in Canada. The elder Bronfman sold his shares in the team in 1991. Hedge funds are used to reduce volatility and risk in the portfolio while attempting to preserve capital and deliver positive returns under all market conditions. [13] The "Mega Group", went on to inspire a number of philanthropic initiatives such as the Partnership for Excellence in Jewish Education, Birthright Israel, and the upgrading of national Hillel. About 285 guests attended the lavish ceremony. podcast episodes, Brokers, Bagmen, & Moles podcast episodes, Connections with BCD Travel podcast episodes, Cyber Security & Cloud Podcast podcast episodes, Coinbase Institutional Market Call podcast episodes, South Side Rules: A Shameless Podcast podcast episodes. Get notification with the latest net worth updates for free. Rays to fans: 'We desperately want to stay in Tampa Bay', Rays have cleared one Montreal hurdle, but many remain, Why Rays think their Montreal idea is so 'amazing', Tampa Bay has to decide whether it's a major league market, Stu-realism on display at Rays' museum exhibition. He briefly worked in the marketing department of the Montreal Expos, then owned by his father. Our approach can appeal to family-owned businesses and select public and sponsor-owned companies. We are not involved in day-to-day operations of our portfolio companies, preferring to delegate responsibility to the management team. A track record of success in building companies across several sectors. Sirois is also behind Microcell and the Fido brand, which Rogers Wireless bought in November. [16] Bronfman is also responsible for The Charles Bronfman Prize,[17] honoring individuals for their humanitarian contributions. Details can be seen in Stephen R Bronfman's Latest Holdings Summary section. The founder of Quebec-based printer and publisher Transcontinental Inc. resigned his post as CEO in March, almost three decades after he started the company. Bronfman completed his undergraduate studies at Williams College and returned to Montreal in 1986. 39. As the Liberal Party's chief fundraiser, Bronfman helped get Canada's prime minister Justin Trudeau elected in 2015. Lot Size 1.13 acres. Bronfman, whose father Charles was the original owner of the Expos, is part of a group spearheading effort to return baseball the city. 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. 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. As part-owner of Maple Leaf Sports & Entertainment Ltd., he was in talks with the Toronto Argonauts earlier this year to jointly acquire Varsity Stadium at the University of Toronto. He was majority owner of Major League Baseball's Montreal Expos from the team's formation in 1968 until 1991. Wanna follow Stephen Bronfman's net worth? Most of the Bronfman family have left Montreal. of 42,714 shares made by David Largey Global perspective enables us to identify sectors with potentially better opportunities, make key introductions to new markets, recruit new personnel, and make acquisitions. He made almost $247 million by selling 33 million fund units he received in the deal. Stephen R Bronfman around $4 Million. Bronfman and his family came to prominence within Canada as key fundraisers for the Liberal Party of Canada. Charles Bronfman: $1.85 billion On June 27, Stephen Bronfman, chairman of Claridge SRB Investments Inc. and Charles Bronfman's son, was married at his 15,000 square-foot Westmount mansion under such tight security that even the bride's identity was kept from the media until after the ceremony. We diversify our active direct investment practice through funds investments leveraging resources in different markets and industries, and invest globally with a select number of third-party managers allocating capital to different strategies and asset classes that offer superior risk-adjusted returns. On December 22, 2013, Edgar Bronfman Sr. died at age 84. Also in 1991, he joined private equity firm Claridge, which was founded by his father in 1987. Unlike traditional private equity firms, we have an owner mindset and a longer time horizon to allow for the maximization of value with each of our operating companies. 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. But Cap. 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. Its leaders have soared in wealth and influence since the departure of the Bronfmans. . Clare Bronfman has an estimated net worth of $600 million. . Now that daughter Belinda has left Magna for a seat on Parliament Hill, he seems to have forgotten his former political ambitions. . 71. 37. Creating a legacy. Property tycoon Paul Reichmann stepped down as CEO of family holding company Reichmann International in October, passing the torch to his son, Barry. Comrie earned more than $270 million this year after converting his chain of more than 160 discount outlets into an income trust. Stephen and Mitchell Goldhar: $608 million. 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. The Winnipeg-based Richardson clan, known for making its money in the grain industry, signalled a return to its roots in the financial services sector last summer when Richardson Financial Group Ltd. launched a $325-million private equity fund. transported to Winnipeg where it will become the centrepiece of a fashion museum. 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. Stephen Bronfman's father, Charles, was the Expos first owner, giving the son a close-up view of the team during the early years. We have the flexibility to pursue a range of investment structures as well as transaction types. "I don't even know what street Canada is on," Capone once quipped to a question about bootlegging. Charles Bronfman Net Worth: $2.54 billion ( 1.2% from 2017) Rich 100 rank: #39 Change in rank from 2017: 4 Major company holdings: Vivendi Location: New York & Palm Beach, Fla. Age: 86 It's why he's so excited about the Rays deal. Rival firm Interfor was also in the running. Also in 1991, he joined private equity firm Claridge, which was founded by his father in 1987.[1]. Elite Canadian families. We prefer control, but also invest in significant minority situations where we have strong influence over the companys destiny. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Our sixth annual ranking of Canada's wealthiest people. In 1990, he studied geology at Concordia University . He is the co-chairman of the McGill Institute for the Study of Canada. St. Joseph Communications uses cookies for personalization, to customize its online advertisements, and for other purposes. In 2017, he was caught up in the Paradise Papers scandal. Making an impact. Our private equity funds program is invested globally with some of the world's leading private equity funds that we have strong relationships with. We also invest in real estate, credit and special situations funds. [2] Bronfman was responsible for increased investment positions in the high-end organic food and beverage industry, mainly through the creation of the Claridge Food Group. Minto president Roger Greenberg denied any involvement. Comprehensive financial expertise and extensive relationships in the business and financial community can be leveraged by our portfolio companies in the context of mergers and acquisitions, IPOs, and financings. The Libfelds, who operate Toronto's largest house and condo developers, might want to keep an eye on the condo market. Pierre Karl and rik Pladeau: $480 million. 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. He briefly worked in the marketing department of the Montreal Expos, then owned by his father. The family went on to run the Seagram Company, with brands like VO, Crown Royal and Chivas Regal. Bronfman has had some setbacks. Bronfman completed his undergraduate studies at Williams College and returned to Montreal in 1986. 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. 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. In 1924, Samuel founded the Distillers Corporation in Montreal. He was educated at Selwyn House School in Montreal, Trinity College School in Port Hope, Ontario, and McGill University. It's not all in the family anymore. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. He is married to Claudine Blondin. Headquartered in Montreal, the company became the largest producer and distributor of distilled spirits in the world. Price $21.5 million Size 6,616 square feet, 5 bedrooms, 6 bathrooms The ongoing pandemic may have thrown a mansion-sized wrench into the U.S. real estate market, but summer's here and there are still billionaires with ample cash reserves for a lavish vacation home. He even enjoyed getting peppered with questions from reporters at a Wednesday news conference. 0 transactions in SunOpta Inc (STKL) over the past 5 years. In the early 1900s, much of the revenue at the family's hotels in Emerson, Manitoba and later in Winnipeg flowed from selling liquor. Stephen R Bronfman owns 5,389,288 shares of SunOpta Inc (STKL) as of May 9, 2006, with a value of $44 Million. Bronfman is a former co-chairman of the Seagram Company Ltd. On the demise of the company: "It was a disaster, it is a disaster, it will be a disaster," he says. Please help to demonstrate the notability of the topic by citing, Learn how and when to remove these template messages, Learn how and when to remove this template message, "This block used to be for first-time homebuyers. Updated for 2018! On average, Sunopta executives and independent directors trade stock every 21 days with the average trade being worth of $634,359. Harrison McCain family: $1.48 billion. Other transactions such as conversion of derivative security or exercise of options are not included. 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. The real estate tycoon and chairman of Orlando Corp. sold off about $245 million of his company's industrial and office portfolio this year while continuing to collect rent from tenants in Orlando's sprawling 31-million-square-foot empire. of 7,000 shares. Bronfman has said that he wasn't interested in business as a young man. His gain was one of the largest windfalls from stock options in Canadian history. In October, Kolter Property Co.'s Toronto office portfolio was sold to German investors for $492 million. As chairman, Risley remains involved in the day-to-day operations of Clearwater Seafoods LP, the processed-fish company he founded in 1976. [7] The sale was completed .mw-parser-output .frac{white-space:nowrap}.mw-parser-output .frac .num,.mw-parser-output .frac .den{font-size:80%;line-height:0;vertical-align:super}.mw-parser-output .frac .den{vertical-align:sub}.mw-parser-output .sr-only{border:0;clip:rect(0,0,0,0);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px}6+12 months later on June 14, 1991. The power couple continued to focus on work this year. He expects the cost of these Gandhi-like movies will average US$20 million each. In 1976, two New York men accused of kidnapping 21-year-old Samuel Bronfman II were convicted of grand larceny. Charles Bronfman, (born June 27, 1931) is a Canadian-American businessman and philanthropist and is a member of the Canadian Jewish Bronfman family. Brick employees shared more than $40 million in bonuses from the offering. The deal fell through. Clare Bronfman was born in Clifton . Under his leadership, the Bronfman family established itself as a pioneer of the Canadian industrial landscape and built a crown jewel of the emerging Canadian economy. Management with skin in the game investing alongside us. Claridge challenges its portfolio teams to excel and, through respectful and symbiotic relationships, we tend to complement our partners well. The project created 175 new jobs, consolidated 475 existing ones, paid for a new coated paper machine and modernized two other ones. Rogers Wireless made headlines this fall when it purchased Microcell Telecommunications Inc., the parent company of Fido, for $1.4 billion. A former lieutenant-governor of Ontario with a family heritage in financial services and income trusts, he emerged this year as a fierce critic of fallen newspaper tycoon Conrad Black, a one-time friend. The one-million-square-foot building is worth approximately $250 million. 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 In 1990, he studied geology at Concordia University. Sycamore Networks Inc., founded by Deshpande in 1998, was one of seven companies to win a contract from the U.S. Defense Department in January as part of a US$850-million plan to turn its communications system into a worldwide high-speed network. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Robot, a Markham, Ont.-based company that recently introduced the HR6 a walking, talking and dancing humanoid robot that also tells jokes, checks mail and fetches things. During her trial in New York Bronfman spoke in an English accent, although she left the UK in her mid-teens to reunite with her father, Edgar Bronfman Sr, who had a net worth of $2.5bn before he . Active research and documentation that identifies and analyses challenges confronting communities. The respected Toronto developer got some unfortunate attention in December 2003 when one of his buildings, the landmark Uptown Theatre in downtown Toronto, collapsed during demolition, killing one person and injuring 14 others. "He's a business success in his own right," he said. Direct equity participations currently include holdings in food, real estate, technology, entertainment, and renewable energy, among others. We aim to achieve diversification through investment strategy, sector, geography, fund manager, and vintage year. Creating a legacy. Coutu's pharmacy company became the fourth-largest North American drugstore chain in August when it purchased 1,549 Eckerd stores. 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. In this role, we often provide strategic and operational support, relationships, capital to fund growth initiatives, and a more conservative approach to leverage. stock. Follow @GrahamBrink. 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. In the 2010 article "The Heiresses and the Cult", Vanity Fair detailed how Sara and Clare Bronfman had given up to $150 million to NXIVM, a group their father referred to as a cult. Focus on true value creation, not short term profits. Stephen's mailing address filed with the SEC is C/O CLARIDGE INC., 1170 PEEL STREET, , , H3B4P2. The most recent stock trade was executed by Mike Buick on 10 March 2023, trading 7,000 units of STKL stock currently worth $54,600. 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. Photo by Andrew Vaughan / The Canadian Press Targeted networks and partnerships allow the foundation to build on the best practices that answer needs with concrete solutions and that broaden its reach. We take governance seriously and adhere to the highest industry standards. Experienced, successful, and ambitious teams demonstrating deep industry insight. Constantly moving ahead to not only do more, but also aspiring to always do better, the foundation is committed to live every day by its motto. Kenneth Thomson and family: $22.03 billion. premier Glen Clark, Time Inc. CEO Ann Moore and Michael Korenberg, vice-chairman of the Jim Pattison Group. [18][19], Bronfman was a founding co-chairman of Historica Canada, producers of the Heritage Minutes series of television shorts. Tom and Caleb Chan, the famously private brothers and philanthropists, with extensive golf course and real estate holdings in the Vancouver-Whistler area, scored a major coup recently when it was announced the Telus Skins Game would be returning to their prestigious Nicklaus North course next year. We seek to partner with and invest in high-quality businesses with strong and defensible market positions. We favour simple investment structures that meet the unique needs of sellers. Minimal risk of obsolescence and disintermediation. and Construction started in July on Matthews' Celtic Manor resort in Wales in time for the 2010 Ryder Cup. In April, the CRTC admonished Aliant for selling local phone service in a bundled package in areas of Nova Scotia and P.E.I. Bronfman is closer to that dream than ever. 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. Many people ask this question about the money Stephen Bronfman makes from Facebook. The family's publicly traded business, Samuel Manu-Tech Inc., is currently experiencing record quarters. The information company sold its Thomson Media group to Investcorp for US$350 million and gobbled up at least 10 companies of all types and sizes. Engagement and empowerment of emerging talent that encourages the development of human potential and that recognizes and celebrates individual and collective ingenuity. This investment adviser does not provide advice to individual investors. Freddy DeGasperis Jr. runs Aspen Ridge Homes Ltd., part of his father's construction empire. Bronfman has given away or pledged at least $350 million, mostly toward promotion of Canadian culture and the Jewish community's connection to Israel. Wanna follow Stephen Bronfman's net worth? Over the last 22 years, insiders at Sunopta have traded over $83,836,324 worth of Sunopta stock and bought 13,994,932 units worth $88,266,116 Stephen Bronfman speaks to the media about the prospect of Major League Baseball returning to Montreal. . Unlike institutional funds, we do not have multiple committees to reach a consensus to obtain required authorizations. Since the departure of the Expos, he has been involved in initiatives aiming to bring Major League Baseball back to Montreal. But the mystery buyers may not even need to . Empire Co., the parent company of successful grocery chain Sobeys, appointed its first ever unrelated chairman in September, as the company reported a 9% increase in first-quarter revenues. In 1951 Bronfman's father Samuel Bronfman gave Charles a 33% ownership stake in Cemp Investments, a holding company for him and his 3 siblings which controlled the family's corporate empire. In 2008, married Roche, an architect, in New York City. In September, it looked like Gaglardi's son, Tom, would be part of a successful $250-million bid for the Vancouver NHL team. Larry Parrish blasted 30 home runs for the exciting 1979 Expos, and pitcher Steve Rogers won 19 games with a 2.40 earned run average in 1982, good enough to garner the second most votes for the Cy Young Award, given to the league's best pitcher each year. But watch out, Peter: the darling is already starting to slide. Hard-working and honest, our staff is entirely committed to growing your business in a way that is as enjoyable as it is profitable. Also in 1991, he joined private equity firm Claridge, which was founded by his father in 1987. Our portfolio companies leverage the relationships that the Bronfman family have built through generations of doing business.
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