A Brookfield Corporation executive told the Commons ethics committee yesterday that associates of Prime Minister Mark Carney own roughly 2,000 businesses. MPs noted the obvious conflict of interest given Carney’s dependence on Brookfield returns for his personal fortune.

Brookfield COO Justin Beber testified, “We have over 2,000 businesses that we own as part of our funds and our investment strategy.” U.S. filings on March 17 disclosed that company chair Carney held the equivalent of $9.8 million in stock options when he sought the Liberal Party leadership.

Beber stated the prime minister’s ongoing ownership of Brookfield fund shares was “personal and private information” that Brookfield is “not permitted to disclose.”

BROOKFIELD ADMITS: the PM profits when Brookfield does.⁰⁰If the Prime Minister’s own decisions can make him richer, how can Canadians trust this system?⁰⁰His wealth rises with Brookfield’s success. pic.twitter.com/3K5KShDKzT

— Michael Barrett (@MikeBarrettON) November 24, 2025

Conservative MP Jacques Gourde said Brookfield holdings were so vast that conflict appeared inevitable. “This is an ethical situation here that we’re dealing with,” he said.

Beber informed committee members that his employers hold investments in housing, high-speed rail, clean energy, nuclear projects, data storage, and artificial intelligence, as reported by Blacklock’s.

“A lot of those projects can also be found in the federal budget,” said MP Gourde. It would “help Brookfield if the government could offer assistance for those projects,” he added.

MP Gourde asked if the federal budget could help finalize contracts for federally facilitated projects. Beber replied he couldn't speak to all 2,000+ portfolio companies.

CAUGHT! Conservative MP Michael Barrett calls out Mark Carney for lying during last night's Liberal leadership debate about his company Brookfield Asset Management. pic.twitter.com/Lct37XPKqZ

— Rebel News (@RebelNewsOnline) February 26, 2025

The executive clarified Carney left Brookfield on Jan. 16, 2025 — the day he declared his Liberal leadership bid. “Since then, no one at Brookfield has discussed company business with the prime minister,” he asserted.

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As PM, however, Carney has had at least three encounters with Brookfield executives/subsidiaries: lobbying by NorthRiver Midstream (April 30), a meeting with Brookfield Infrastructure CEO Sam Pollock in Washington D.C. (May 5), and a meeting with Beber in his Ottawa office last month.

Under questioning from Conservative MP Michael Barrett, Beber admitted he met with Carney “only once” in early October to discuss rising antisemitism, in Carney's office.

Carney’s election promises align with major Brookfield investments, including his praise of nuclear firm Westinghouse (which he acquired at Brookfield), his housing plan promoting prefab homes (benefiting Brookfield's Modulaire), and his AI policy supporting Brookfield's Compass Data Centers and Data4.

“What we have isn’t a Brookfield problem. The reason that you’re here is because the prime minister has a financial interest in the performance of this company,” said Barrett.

Poilievre rips into Mark Carney for making "false statements" about his purported conflicts of interest and finances.

The Conservative leader calls for Carney to explain himself and place his funds into a truly blind trust. pic.twitter.com/c86OvArWN0

— Rebel News (@RebelNewsOnline) July 14, 2025

When asked by Conservative MP Michael Cooper if Carney stood to make millions from the investments, Beber denied the claim. Upon becoming Liberal leader, Carney put all assets, except personal real estate and some cash, into a blind trust and disclosed all potential conflicts to the ethics commissioner, who established an extensive ethics screen for over 100 entities.

Beber refused to comment on the Conflict of Interest Act and proposed changes, stating he was unqualified to discuss legislation.

As the ethics committee reviews the act, Conservatives suggest strengthening it to require lawmakers like Carney to sell assets, preventing conflicts of interest.

BREAKING: NorthRiver Midstream lobbied Mark Carney on April 30, and he met with Brookfield Infrastructure CEO Sam Pollock on May 6, despite both interactions conflicting with his ethics screen.https://t.co/pm4lUJQrer

— Rebel News Canada (@RebelNews_CA) July 14, 2025

Despite bureaucratic and Liberal MP warnings that stringent measures could deter competent private-sector leaders, Conservatives maintain Carney's situation is unique due to his former company's financial ties to sectors — modular housing, clean energy, and AI — with which the government is actively engaging.

Liberal MPs, such as Leslie Church, praised Brookfield COO Beber for patiently enduring the “late-season fishing expedition” of Conservative attacks during his ethics committee testimony.

Liberal MP Gurbux Saini called the ethics committee's probe into Carney's benefits “disturbing.”

Earlier, Liberal MP Kevin Lamoureux accused Conservatives of misusing the ethics committee to attack the prime minister, terming their actions a “bad use of parliamentary tools.”