June 26, 1928 |
|Awards||Order of Canada
Order of British Columbia
Mr. Belzberg has extensive international experience in real estate and finance with a distinguished track record. In 1962, City Savings and Trust received a Charter from the Alberta Government to set up a provincial trust company. This evolved into First City Financial, which Mr. Belzberg built into a $7 billion financial services organization with offices across North America and Europe. First City was involved in many large investment transactions including Bache Securities before it was sold to Prudential, Gulf Oil, Armstrong World (a large building supply company) and Scovill (a manufacturing company which included Yale Locks, Hamilton Beach, NuTone and many other brand-name products).
During the 1990s, Mr. Belzberg founded Balfour Holdings Ltd. (“Balfour”), a real estate company which, at its peak, operated over 26 projects spreading through the United States. Balfour’s mandate was to profit from the dislocations in value in the United States due to the Savings and Loan crisis. Balfour subdivided and serviced its purchased lands and sold the lots to National Builders. In 1997, Balfour was sold to Blackstone, a large U.S. private equity group and generated realized returns in excess of 20% per annum. During the 1990′s, Mr. Belzberg was an active acquirer of distressed property in Alberta where values had dramatically declined due to the softness in the oil industry. These properties were subsequently divested when the market recovered. In 1992, Mr. Belzberg started a private real estate and equity investments company, which is now called Gibralt Capital Corporation.
Mr. Belzberg serves on various Board of Directors and is involved with numerous charities. He was awarded the Order of Canada in 1989 from the Governor General, and also in 1989 he received an honorary doctorate from Simon Fraser University. In 1992, he received the Governor General of Canada Award. In 2002, Mr. Belzberg was promoted to Officer of the Order of Canada.
He is the founder of both the Canadian and American Dystonia Medical Research Foundations.
He is married to Frances Belzberg. They have four children: Marc, Lisa, Wendy, and Sherry. His daughter Wendy is married to Strauss Zelnick, the founder and president of Zelnickmedia. His daughter Lisa, was married to and has six children with Matthew Bronfman, son of Canadian billionaire Edgar Bronfman, Sr.
- New York Magazine: "Tutoring Tycoons" By Robert Kolker retrieved July 22, 2013