Frank Stronach’s profile picture

Frank Stronach

Founder, Magna International
Frank Stronach’s profile picture
Net worth 2018: $1.51 Billion
Industry: Automotive
Residence: Aurora, Canada
Country: Canada
BirthDay: 6 September 1932
Sigh: Libra
Children: 2

Frank Stronach was bornon 6 September 1932 in Aurora, Canada, Canada, is Founder, Magna International. Frank Stronach is #1540 in List Billionaires People In The World. Frank Stronach amassed his fortune in auto parts manufacturing, founding Canadian giant Magna International in 1957. Raised in Austria during Nazi-rule, he apprenticed at a tool-and-die maker before emigrating to Canada and founding the precursor to Magna. Today the company is among the largest automotive part suppliers in the world, with more than $30 billion in sales. Stronach divested himself of all equity in the company in 2012 and 2013 and, in recent years, has been buying up Florida land for a big push into grass-fed beef. His Adena Ranch owns more than 95,000 acres across the Sunshine State, where he raises and slaughters his own beef and then sells it in retail outlets and restaurants that he owns. Stronach is also a big name in horse racing: He owns several racetracks, including Santa Anita near Los Angeles and Gulfstream Park in Florida, and is a successful breeder. In January 2017 he held the inaugural Pegasus Cup, billed as "the world's richest Thoroughbred race" thanks to its $12 million purse, at Gulfstream Park.


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This led to suggestions that Stronach would take over the BZÖ ahead of the 2013 elections so as to give his movement seats in Parliament


A Gallup poll in August 2012 indicated that it could receive 8% of the vote


In November 2011, he called for an 'intellectual revolution' in Austria, suggesting that he would be willing to fund a student-led political party


Further details were announced on 6 October 2005, and that the new development would be officially known as Magnaville


He subsequently established Adena Springs Farms which owns horse breeding farms in Kentucky, Florida and Canada and won the Eclipse Award for Outstanding Breeder in 2004, 2005 and 2006


These connections were most famously exhibited when Progressive Conservative Premier Ernie Eves and Finance Minister Janet Ecker delivered the 2003 Ontario budget from a Magna plant


In 2000, he won the Eclipse Award for Outstanding Breeder


In 1999, Stronach was made a member of the Order of Canada


In the United States, he earned the Eclipse Award for Outstanding Owner in 1998, 1999, and 2000


In December 1997, Stronach was awarded an honorary Doctor of Engineering by Kettering University


His horses have won the Queen's Plate in 1994 and 1997, the Belmont Stakes in 1997, and the Preakness Stakes in 2000


He started to become a notable figure also in the Austrian public in the late 1990s


Stronach was a candidate of the Liberal Party of Canada in the 1988 federal election for the riding of York—Simcoe, but was defeated by the Progressive Conservative John Cole


In 1986, Stronach founded Magna Europa, with headquarters in Oberwaltersdorf, Lower Austria


Among his early successes was his partnership with Nelson Bunker Hunt in the filly Glorious Song who was voted the 1980 Sovereign Award for Canadian Horse of the Year


In 1973, the name was converted from Multimatic Investments Ltd to Magna International Ltd


In 1969, his firm acquired its first automotive parts contract and merged with Magna Electronics


In 1956, Stronach started his first business, Multimatic Investments Ltd


In 1954, he arrived in Montreal, Quebec, and later moved to Ontario


Frank Stronach, CM (born Franz Strohsack; 6 September 1932) is an Austrian and Canadian businessman and politician

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