Brookfield Corporation's 2024 Letter to Shareholders reported a strong year with record financial results and the completion of several strategic transactions. Distributable earnings (DE) before realizations reached $4.9 billion, or $3.07 per share, for the year, representing a 15% increase per share over the prior year.
The Asset Management business generated $2.6 billion in distributable earnings, supported by over $135 billion in total inflows during 2024, expanding fee-bearing capital to $539 billion. The Wealth Solutions business saw its distributable operating earnings nearly double to $1.4 billion, driven by approximately $19 billion in retail and institutional annuity sales, including $1.3 billion in UK pension liabilities.
Brookfield monetized nearly $40 billion of assets across the business, generating approximately $400 million of net realized carried interest in 2024. The company also executed approximately $135 billion in financings and repurchased approximately $1 billion of common shares in 2024, contributing to a 19% increase in intrinsic value per share to approximately $100.
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