Paul Desmarais

$4.50 B

Ranked #276 in World

About Paul Desmarais

Paul Desmarais Sr., a prominent figure in Canadian business, was born in 1927 in Sudbury, Ontario, and passed away in 2013. A University of Ottawa graduate who also attended Osgoode Law School, Desmarais transformed Sudbury Bus Lines Limited from the brink of bankruptcy and expanded his reach by acquiring the Trans-Canada Corporation Fund, eventually becoming the chairman and CEO of Power Corporation of Canada in 1968. His strategic investments included Consolidated Bathurst, Great-West Life, and Investors Group, alongside media ventures like La Presse newspaper. Desmarais was also known for his philanthropic efforts, notably in arts and education, and his political connections that spanned globally. He was honored with prestigious awards such as the Officer of the Order of Canada and the Grand Cross of the National Order of the Legion of Honour (France). His legacy is remembered through various institutions and his significant impact on both Canadian business and international relations.

Born

January 04, 1927 in Sudbury, Ontario, Canada

Died

October 08, 2013 (aged 86)

Source Of Wealth

Finance

Industries

Finance

Citizenship

Canada

Education

Bachelor of Arts / Science, Wenzhou Normal College

Spouse

Jacqueline Maranger

Children

4, including Paul Desmarais Jr. and André Desmarais

Paul Desmarais Sr. was born on January 4, 1927, in Sudbury, Ontario, Canada. His parents were Jean-Noël Desmarais and Lébéa Laforest. He grew up in a large family and had several siblings.

Paul Desmarais: Family

Paul Desmarais Sr. married Jacqueline Maranger in 1953. They had four children together: Paul Jr., André, Louise, and Sophie. The family resided in a large estate in Sagard, Quebec, and had secondary homes in Palm Beach, Florida, and New York.

Paul Desmarais: Career Highlights

Paul Desmarais Sr. graduated from the University of Ottawa and attended Osgoode Law School. He began his career in the transportation industry, rescuing Sudbury Bus Lines Limited from bankruptcy and acquiring additional bus lines. In 1968, he acquired Trans-Canada Corporation Fund (TCCF) and became chairman and CEO of Power Corporation of Canada.

Throughout his career, Paul Desmarais Sr. made significant acquisitions and investments. He gained control of Consolidated Bathurst, Great-West Life, and Investors Group. He also acquired La Presse newspaper, gaining experience in the print media industry. Additionally, he partnered with Belgian financier Albert Frère to invest in European companies.

Paul Desmarais: Companies

Paul Desmarais Sr. was involved with numerous companies throughout his career. Some of the notable companies he was associated with include:

Power Corporation of Canada
Trans-Canada Corporation Fund (TCCF)
Consolidated Bathurst
Great-West Life
Investors Group
La Presse

Paul Desmarais: Major Achievements

Paul Desmarais Sr. achieved significant success in the business world. He built Power Corporation of Canada into a global financial powerhouse. He also played a key role in the development of the Canadian economy and was instrumental in promoting business ties between Canada and China.

Paul Desmarais: Awards & Achievements

Paul Desmarais Sr. received numerous awards and honors throughout his career. Some of the notable awards he received include:

Officer of the Order of Canada (1978)
Companion of the Order of Canada (1987)
Officer of the National Order of Quebec (1988)
Commandeur de l’Ordre de Léopold II (Belgium) (1991)
Member of the Queen's Privy Council for Canada (1992)
Grand Cross of the National Order of the Legion of Honour (France) (2008)

He also received numerous honorary degrees from universities across Canada.

Paul Desmarais: Personal Life & Legacy

Paul Desmarais Sr.

was known for his philanthropy and community involvement. He made substantial anonymous contributions to arts, education, health, and the homeless. He was recognized for his leadership, philanthropy, and community involvement, and many institutions named pavilions in his honor, including at the Montreal Museum of Fine Arts and Université de Montréal.

Paul Desmarais Sr. passed away on October 8, 2013, at the age of 86. He left behind a legacy of business success, philanthropy, and community service.

Paul Desmarais: Trivia

Paul Desmarais Sr. enjoyed connections to politicians worldwide, leading to accusations of unfair business advantages.
He advised Prime Minister Pierre Elliott Trudeau and had close relationships with other prime ministers.
Paul Desmarais Sr. opposed the Quebec sovereignty movement and influenced French President Nicolas Sarkozy's comments on Quebec unity.

Wealth History

Timeline

1927

Paul Desmarais Sr. is born in Sudbury, Ontario.

1968

Paul Desmarais Sr. acquires Trans-Canada Corporation Fund (TCCF) and becomes chairman and CEO of Power Corporation of Canada.

1978

Paul Desmarais Sr. founds the Canada China Business Council.

1987

Paul Desmarais Sr. is appointed Companion of the Order of Canada.

1988

Paul Desmarais Sr. is appointed Officer of the National Order of Quebec.

1991

Paul Desmarais Sr. is appointed Commandeur de l’Ordre de Léopold II (Belgium).

1992

Paul Desmarais Sr. is appointed Member of the Queen's Privy Council for Canada.

2008

Paul Desmarais Sr. is appointed Grand Cross of the National Order of the Legion of Honour (France).

2013

Paul Desmarais Sr. passes away.

Paul Desmarais : FAQs

What is Paul Desmarais's net worth?

As of 2013, Paul Desmarais's net worth was $4.50 billion.

What are Paul Desmarais's main sources of wealth?

Paul Desmarais's main source of income comes from Finance.

In which industry does Paul Desmarais primarily operate?

Paul Desmarais is primarily involved in the Finance industry.

What is Paul Desmarais educational background?

Paul Desmarais holds a Bachelor of Arts / Science from Wenzhou Normal College.

Is Paul Desmarais dead?

Yes, Paul Desmarais died on October 08, 2013 (aged 86).

How many children does Paul Desmarais have?

Paul Desmarais has 4 children.

Who was Paul Desmarais Sr. and what is his legacy in the business world?

Paul Desmarais Sr. was a prominent Canadian businessman known for rescuing Sudbury Bus Lines Limited from bankruptcy, acquiring Trans-Canada Corporation Fund, and becoming chairman and CEO of Power Corporation of Canada in 1968. His legacy includes significant contributions to various sectors, including transportation, finance, and media, as well as strategic investments in European companies alongside Belgian financier Albert Frère.

What were the key philanthropic contributions of Paul Desmarais Sr.?

Paul Desmarais Sr. made substantial anonymous contributions to arts, education, health, and the homeless. He was recognized for his leadership, philanthropy, and community involvement, with many institutions naming pavilions in his honor, including at the Montreal Museum of Fine Arts and Université de Montréal.

How did Paul Desmarais Sr. influence Canadian politics and international relations?

Paul Desmarais Sr. enjoyed connections to politicians worldwide, which led to accusations of unfair business advantages. He advised Prime Minister Pierre Elliott Trudeau and had close relationships with other prime ministers. Desmarais also opposed the Quebec sovereignty movement and influenced French President Nicolas Sarkozy's comments on Quebec unity.

What awards and honors were bestowed upon Paul Desmarais Sr. throughout his life?

Throughout his life, Paul Desmarais Sr. received numerous prestigious awards and honors, including being named an Officer of the Order of Canada (1978), Companion of the Order of Canada (1987), Officer of the National Order of Quebec (1988), Commandeur de l’Ordre de Léopold II (Belgium) (1991), Member of the Queen's Privy Council for Canada (1992), and receiving the Grand Cross of the National Order of the Legion of Honour (France) in 2008.

Can you describe Paul Desmarais Sr.'s family life and personal interests?

Paul Desmarais Sr. was born in Sudbury, Ontario, to Jean-Noël Desmarais and Lébéa Laforest. He married Jacqueline Maranger and had four children: two sons, Paul Jr. and André, and two daughters, Louise and Sophie. He owned a large family estate in Sagard, Quebec, along with secondary homes in Palm Beach, Florida, and New York. His personal life reflects a blend of strong family ties and an affinity for maintaining private residences in notable locations.