Bruce Flatt Explained

Bruce Flatt
Birth Date:10 June 1965
Birth Place:Winnipeg, Manitoba, Canada
Occupation:CEO of Brookfield Asset Management
Education:University of Manitoba (BComm)
Spouse:Lonti Ebers

Bruce Flatt (born June 10, 1965)[1] is a Canadian businessman and the CEO of Brookfield Asset Management. He joined Brookfield in 1990 and became CEO in 2002.[2] He has been referred to as "Canada's Warren Buffett" due to his "value" investment style, extended tenure as CEO, and large investment in Brookfield.[3] In 2022, he was ranked #622 on Forbes' Billionaires list with a net worth of US$4.5 billion.[4] [5]

Career

Flatt, whose father was an executive at a Manitoba mutual fund company,[6] was born in Canada in 1965. Following university, Flatt worked as a chartered accountant at Ernst & Young. Flatt joined the investment division of Brascan (Brookfield's predecessor) in 1990,[7] became chief executive of Brookfield Properties in 2000 and CEO of the entire business in 2002.[2]

As CEO of Brookfield Properties, Flatt led Brookfield's response to damage caused by the September 11, 2001 attacks in Lower Manhattan.[8] [9] Under Flatt, Brookfield became the second largest alternative-asset manager in the world, following the acquisition of a majority stake in Oaktree Capital Management in 2019.[10]

Flatt and a group of partners own 20% of Brookfield, individually and through a company called Partners Limited.[11]

Awards

Flatt was named CEO of the Year by The Globe and Mail in 2017,[12] 60th in a list of the top 100 best-performing CEOs published by Harvard Business Review in 2018,[13] and one of Bloomberg's 50 people who defined global business in 2019.[10]

Personal life

Flatt is married to art collector Lonti Ebers, who is the founder of a non-profit organization, Amant, and a trustee and patron of New York City's Museum of Modern Art.[14] [15] [16]

Flatt lives in Toronto, London and New York City.[17]

Notes and References

  1. News: Shah . Oliver . May 7, 2023 . Brookfield’s Bruce Flatt: A recession will help bring people back to their senses . The Sunday Times . subscription . https://archive.today/20230506231444/https://www.thetimes.co.uk/article/brookfields-bruce-flatt-a-recession-will-help-bring-people-back-to-their-senses-ckgck7rh9 . May 6, 2023 . live.
  2. Web site: Bruce Flatt of Brookfield on owning the backbone of the global economy . . October 31, 2018 . June 23, 2020 . https://web.archive.org/web/20200623051628/https://www.ft.com/content/d6f9b346-9bbc-320c-b5c5-7b9b4f854c91 . live .
  3. News: Morrissey . Janet . Bruce Flatt Pushes Growth for Brookfield Asset Management . New York Times . 2010-12-18 . October 31, 2018 . July 29, 2020 . https://web.archive.org/web/20200729022320/https://www.nytimes.com/2010/12/19/business/19brook.html . live .
  4. Web site: #1717 Bruce Flatt . Forbes . https://web.archive.org/web/20191210003349/https://www.forbes.com/profile/bruce-flatt/ . 2019-12-10 . 2020-03-12 . Net Worth Over Time - $1.3B - Billionaires March 2019.
  5. Web site: Profile: Bruce Flatt. live. 2022-01-20. Forbes. en. https://web.archive.org/web/20170821021100/https://www.forbes.com/profile/bruce-flatt/ . August 21, 2017 .
  6. Web site: Gara. Antoine. May 2, 2017. Brookfield's Bruce Flatt: Billionaire Toll Collector Of The 21st Century. live. 2021-12-26. Forbes. en. https://web.archive.org/web/20170502121029/https://www.forbes.com/sites/antoinegara/2017/05/02/brookfields-bruce-flatt-billionaire-toll-collector-of-the-21st-century/ . May 2, 2017 .
  7. News: Reguly. Eric. Eric Reguly. 2017-11-23. CEOs of the Year: How Bruce Flatt and the Brookfield four built Canada’s most successful international player. en-CA. The Globe and Mail. 2022-02-23.
  8. News: Simon . Bernard . Private Sector; A Landlord at Disaster's Margin . New York Times . 2001-09-23 . 2020-03-11 . July 20, 2018 . https://web.archive.org/web/20180720225724/https://www.nytimes.com/2001/09/23/business/private-sector-a-landlord-at-disaster-s-margin.html . live .
  9. News: Daly . John . The Toughest SOBs in Business . ROB Magazine . Globe and Mail . 2003-01-31 . 2020-03-11.
  10. Web site: Bruce Flatt, the Accountant on a Spending Spree . Deveau . Scott . December 4, 2019 . Bloomberg Businessweek . live . January 19, 2020 . March 9, 2020 . https://web.archive.org/web/20200309154622/https://www.bloomberg.com/news/articles/2019-12-04/brookfield-s-bruce-flatt-bought-a-majority-stake-in-oaktree .
  11. Web site: Brookfield Asset Management Inc.. June 14, 2019. 2019 Management Information Circular. 2022-02-23. Securities and Exchange Commission.
  12. Web site: Meet our bargain-hunting, globe-trotting, skyline-dominating, ruthlessly smart CEOs of the Year . Reguly . Eric . November 23, 2017 . The Globe and Mail . January 19, 2020 . May 1, 2019 . https://web.archive.org/web/20190501092956/https://www.theglobeandmail.com/news/ceos-of-the-year-how-bruce-flatt-and-the-brookfield-four-built-canadas-most-successful-international-player/article37036767/ . live .
  13. News: The Best-Performing CEOs in the World 2018 . November 1, 2018 . Harvard Business Review . October 29, 2018 . October 1, 2019 . https://web.archive.org/web/20191001092124/https://hbr.org/2018/11/the-best-performing-ceos-in-the-world-2018 . live .
  14. Web site: Lonti Ebers . arielhauter . September 10, 2017 . ARTnews . February 6, 2020 . February 6, 2020 . https://web.archive.org/web/20200206215306/https://www.artnews.com/art-collectors/top-200-profiles/lonti-ebers/ . live .
  15. News: Loos. Ted. 2021-05-04. An Arts Patron Widens Her Reach With a Brooklyn Museum. en-US. The New York Times. 2022-01-20. 0362-4331.
  16. Web site: Officers and trustees MoMA. 2022-01-20. The Museum of Modern Art. en.
  17. Web site: Gara. Antoine. May 2, 2017. Brookfield's Bruce Flatt: Billionaire Toll Collector Of The 21st Century. live. 2021-12-26. Forbes. en. https://web.archive.org/web/20170502121029/https://www.forbes.com/sites/antoinegara/2017/05/02/brookfields-bruce-flatt-billionaire-toll-collector-of-the-21st-century/ . May 2, 2017 .

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