Glazer was the fifth of seven children in a Jewish household. He inherited his father's wholesale jewelry business. At that time, he had just $300 to his name. Within five years, he started investing in other businesses.

The business first expanded into property, buying several mobile home (or "trailer") parks in the 1970s, mainly in the Florida area. He went on to become president and chief executive officer of First Allied Corporation, a U.S. holding company for his various business interests, such as food processing, marine supplies, health care, real estate, energy exploration, and broadcasting.

Malcolm Glazer now lives in Palm Beach, Florida. He is married to Linda and has five sons and one daughter: Avram, Kevin, Bryan, Joel, Darcie and Edward. Three of them (Joel, Bryan and Edward), are vice-presidents in First Allied. He runs a wide-ranging business empire that includes shopping centers and nursing homes.

On April 16, 2006, Glazer suffered a stroke causing impaired speech and loss of mobility in his right arm and leg. At the time, his son Joel said "My father's spirits are high and doctors expect his condition to improve with rehabilitation," but after spending much of the intervening period in the hospital, Glazer suffered a second stroke in May 2006.

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