Thomas Flatley

Thomas J. Flatley
Born (1931-08-30)August 30, 1931
County Mayo, Ireland
Died May 17, 2008(2008-05-17) (aged 76)
Residence Milton, Massachusetts
Nationality American, Irish
Known for Real estate development
Net worth $1.3 billion
Spouse(s)
Charlotte McLeod (m. 1956)
Children 5

Thomas J. Flatley (August 30, 1931 - May 17, 2008) was a billionaire and philanthropist engaged in real estate development.

Early life

Flatley was born on August 30, 1931 in 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

  1. 1 2 3 4 5 Lambert, Lane (May 17, 2008). "Thomas Flatley, 1931-2008: Builder, donor, patriot, visionary". The Patriot Ledger.
  2. 1 2 3 4 5 6 Palmer Jr., Thomas C.; Marquard, Bryan (May 18, 2008). "Thomas Flatley, Hub real estate icon, dies at 76". The Boston Globe.
  3. ↑ KINSELLA, JAMES (September 9, 1997). "Flatley sells two Hyannis hotels for $28.9 million". Cape Cod Times.
  4. ↑ Van Voorhis, Scott (February 1, 1999). "New Boston fund buys five Greater Boston properties". American City Business Journals.
  5. ↑ "AIMCO buys apartments in Boston". American City Business Journals. August 12, 2002.
  6. ↑ "#754 Thomas Flatley". Forbes. March 8, 2007.
  7. ↑ Ableson, Jenn (May 8, 2007). "Flatley to sell 10 Mass., N.H. shopping centers for $500m". The Boston Globe.
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