Thomas Flatley
Thomas J. Flatley (August 30, 1931 - May 17, 2008) was a Billionaire and philanthropist engaged in real estate development.
Thomas J. Flatley | |
|---|---|
| Born | August 30, 1931 |
| Died | May 17, 2008 (aged 76) |
| Nationality | American, Irish |
| Known for | Real estate development |
| Net worth | $1.3 billion |
| Spouse(s) | Charlotte McLeod (m. 1956) |
| Children | 5 |
Early life
Flatley was born on August 30, 1931 in Kiltimagh County Mayo, Ireland and grew up on a 25-acre farm.[1] In 1950, he immigrated to New York City with only $32.[2]
He worked at a Bronx delicatessen, served in the army for 2 years and then moved to Boston, enrolling at Wentworth Institute of Technology on the G.I. Bill.[1] He dropped out, and in 1956, he started a plumbing and air conditioning business. In 1958, he developed his first apartment complex.
In 1972, he formed Democrats for Nixon along with John Connally.[1]
Between 1984 and when he shut it down in 1989, Flatley owned WNHT, a radio station in New Hampshire.
By 1996, he owned and operated 12 malls and shopping centers, 56 office buildings, 15 hotels, 7 nursing homes and 14 apartment complexes with 6,000 units.[1] His developments included the Sheraton Tara Hotel in Braintree, Massachusetts, built based on the design of Irish castles, and the Quincy Marriott.[2]
In 1997, he sold 2 hotels on Cape Cod for $29 million.[3]
In 1998, Flatley funded construction of the Boston Irish Famine Memorial.[2]
In 1999, he sold 3 nursing homes for $33 million.[4]
In 2002, he sold 11 properties to Aimco for $500 million.[5]
In March 2007, Flatley was ranked 754th by Forbes on the list of the world's billionaires.[6]
In May 2007, Flately sold his 10 shopping centers for $500 million.[7]
In 2008, Flatley died of amyotrophic lateral sclerosis.[2]
Personal life
Flatley lived in Milton, Massachusetts. He attended mass every morning at St. Agatha’s Church, lived in a modest home, and usually flew coach.[2]
He established a foundation with $200 million.[2] Flatley gave millions to Catholic Charities USA, Boston College, Africa relief, and Irish causes.[1]
References
- Lambert, Lane (May 17, 2008). "Thomas Flatley, 1931-2008: Builder, donor, patriot, visionary". The Patriot Ledger.
- Palmer Jr., Thomas C.; Marquard, Bryan (May 18, 2008). "Thomas Flatley, Hub real estate icon, dies at 76". The Boston Globe.
- KINSELLA, JAMES (September 9, 1997). "Flatley sells two Hyannis hotels for $28.9 million". Cape Cod Times.
- Van Voorhis, Scott (February 1, 1999). "New Boston fund buys five Greater Boston properties". American City Business Journals.
- "AIMCO buys apartments in Boston". American City Business Journals. August 12, 2002.
- "#754 Thomas Flatley". Forbes. March 8, 2007.
- Ableson, Jenn (May 8, 2007). "Flatley to sell 10 Mass., N.H. shopping centers for $500m". The Boston Globe.