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Bronfman completed his undergraduate studies at Williams College and returned to Montreal in 1986. He briefly worked in the marketing department of the Montreal Expos, then owned by his late father. In 1990, he studied geology at Concordia University.
Also in 1990, he joined the private equity firm Claridge.
Bronfman is head of the private equity firm Claridge, founded by his late father in 1987. He has served as its CEO since 1997. The firm has invested in artist tours by the Rolling Stones, Madonna, and Crosby, Stills, Nash and Young.
In 1999, he was named a director of Seagram, his family's conglomerate.
Bronfman was named in the Paradise Papers in 2017. He has used tax shelters in the Cayman Islands. A trust held by the family controlled over 25 million dollars, the profits from which have never been taxed.
Bronfman and his family came to prominence within Canada as key fundraisers for the Liberal Party of Canada. After the Panama Papers leak, many have questioned whether Bronfman has interfered with the work of government agencies such as the Canada Revenue Agency.
- Monte Burke, The Other Bronfman, Forbes.com, 09.04.06
- Martin Patriquin, Stephen Bronfman is betting big on Montreal's future, Macleans.ca, 17 juin 2011 .
- Un proche de Trudeau associé à des fonds de plus de 60 millions $ US dans des paradis fiscaux, 
- The ties that bind the Liberals and the Bronfmans