Bruce Wayne was a Gotham City billionaire and, secretly, the superhero known as the Batman. After the Magistrate was called to Gotham, he was forced to go underground after being hunted by the Peacekeeper-01.
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History
Bruce Wayne was the last descendent of the Wayne Family and the owner of the family company Wayne Enterprises. For many years, he had protected his city, Gotham, as the masked superhero, Batman; he was also a member of the Justice League.
At some point in time, Gotham City mayor, Christopher Nakano summoned to the city the Magistrate who helped him free the city from his masked heroes. The Magistrate came to know Batman's secret identity as Bruce Wayne so the latter was stripped of his family fortune and the Magistrate also sent his right hand, Peacekeeper-01, to hunt him down, shooting him and forcing him to go underground. The last part of his fortune allowed him to be sewn up by Gotham's best underground doctor and live in anonymity.
The news about Batman's death was announced publicly by the Peacekeeper-01 and, days later, Bruce Wayne also disappeared, quickly spreading the rumor about Bruce eventually suiciding himself for having lost his family business.
Broken in both body and spirit, having run out of money, Bruce was forced to see his city fall under the Magistrate's dominion. One day, he saw a man being robbed in an alley so he saved him but he had to run because of the Magistrate's sentinels. Wearing a renewed version of his old outfit, he destroyed the sentinels and vowed to free his city from the oppression.