Michael Flacks Explained

Michael Flacks (born 1967) is a British investor, philantropist [1] and businessman.[2] [3] He is the founder, chairman and CEO of Flacks Group, a Miami, Florida based private equity and investment firm.[4] [5] Flacks acquires underperforming corporate businesses or distressed assets and invests in them to make them profitable again.[6] [7]

As per the Bloomberg Billionaires Index, Flacks has a net worth of approximately $600 million, as of 2023.[2]

Michael Flacks ranks #141 in The Sunday Times Rich List 2024 with £1.23b. His source of wealth is investment, paint and the Flacks Group.

Overview

In 1985, Flacks founded Flacks Group, and over the years has been involved in acquiring and funding several businesses. As of June 2020, the group’s portfolio of businesses and real estate asset value exceeded $2.5 billion.[8] By 2023, Flacks acquired four additional businesses with a valuation more than $250 million, according to data compiled by Bloomberg.[2]

Notes and References

  1. News: Cohen . Haley . Debbie, Michael Flacks donate $5M to Colel Chabad for new 10-story Jerusalem community center . en.
  2. News: Stupples . Benjamin . Linsell . Katie . High-School Dropout Vaults Into Mega-Wealth With M&A Bargains . . 19 May 2023 . en.
  3. News: Bell . Alex . Property magnate buys airport for £1 million . Manchester Evening News . 7 May 2014 . en.
  4. News: Coffey . Aine . Rag trader scents rich pickings . The Times UK . 28 September 2023 . en.
  5. News: Canning . Margaret . I'm ready to do deal for Harland & Wolff says US investor Flacks . . 31 July 2019.
  6. News: Hinsche . Kate . Michael Flacks Drops $24M on Fisher Island Condo . The Real Deal . 11 July 2023 . en.
  7. News: Tödtmann . Claudia . "When many would like to run away, our time has come" . www.wiwo.de. 27 January 2018 . de.
  8. News: Blois . Matt . Investment firm acquires Corizon . . 30 June 2020 . en.