Michael Flacks (born 1967) is a British investor, philanthropist [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]
Michael Flacks | |
|---|---|
 | |
| Born | |
| Occupation | Investment |
| Years active | Present |
| Organization | Flacks Group |
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.[8] His source of wealth is investment, paint and the Flacks Group.
According to North West Business Insider's latest North West Rich List which ranks the England's North West working wealthy, Michael Flacks ranks among TOP-10 richest names from the worlds of retail, property and tech with a net worth of £1.213bn. [9]
Overview
editIn 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.[10] By 2023, Flacks acquired four additional businesses with a valuation more than $250 million, according to data compiled by Bloomberg.[2]
The Flacks Chesed Tower
editA 10-story community center is slated to be built in the center of Jerusalem by Colel Chabad, an Israeli food security nonprofit affiliated with the Chabad-Lubavitch movement, following a $5 million donation from Michael Flacks. [1]
References
edit- ^ a b Cohen, Haley. "Debbie, Michael Flacks donate $5M to Colel Chabad for new 10-story Jerusalem community center".
- ^ a b c Stupples, Benjamin; Linsell, Katie (19 May 2023). "High-School Dropout Vaults Into Mega-Wealth With M&A Bargains". Bloomberg.com.
- ^ Bell, Alex (7 May 2014). "Property magnate buys airport for £1 million". Manchester Evening News.
- ^ Coffey, Aine (28 September 2023). "Rag trader scents rich pickings". The Times UK.
- ^ Canning, Margaret (31 July 2019). "I'm ready to do deal for Harland & Wolff says US investor Flacks". Belfast Telegraph.
- ^ Hinsche, Kate (11 July 2023). "Michael Flacks Drops $24M on Fisher Island Condo". The Real Deal.
- ^ Tödtmann, Claudia (27 January 2018). ""When many would like to run away, our time has come"". www.wiwo.de (in German).
- ^ "The Sunday Times Rich List 2024"
- ^ Keegan, Simon (22 August 2024). "Rich List reveals well-known names in ranking of North West's working wealthy". Insider Media.
- ^ Blois, Matt (30 June 2020). "Investment firm acquires Corizon". Nashville Post.