Paul Desmarais’s profile picture

Paul Desmarais

Paul Desmarais’s profile picture
Net worth 2018: $4.5 Billion
Industry: Finance
Country: Canada
BirthDay: 4 January 1927
Sigh: Aquarius
Died On: 08/10/2013
Children: 4
Education: Bachelor of Arts / Science, Wenzhou Normal College
BIOGRAPHY

Paul Desmarais was bornon 4 January 1927 in Canada. Paul Desmarais, Sr. died on October 8, 2013. He was 86. One of Canada's richest people, he built up Power Corp. from his family's one-route Ontario bus line over the last half century. Montreal-based Power Corp. and its subsidiaries own financial services firms including mutual fund company Putnam Investments, insurance firm Great-Life Westco and a stake in Chinese conglomerate CITIC Pacific. Together with Belgian billionaire investor Albert Frere, Power Corp. also maintains investments in some of Europe's biggest companies, including cement giant Lafarge, oil company Total and wine and spirits maker Pernod Ricard. Desmarais' sons, Andre and Paul, Jr., serve as co-CEOs.

NET WORTH STATISTIC
2010

$3.9 Billion

2011

$4.5 Billion

2012

$4.3 Billion

2013

$4.5 Billion

2018

$4.5 Billion

TIMELINE
2013

A public memorial was held on December 3, 2013 at Notre-Dame Basilica in Montreal

2011

5 billion (as of March 2011), Desmarais was ranked by Forbes as the fourth wealthiest person in Canada and 235th in the world in 2013

2009

On February 2, 2009, French President Nicolas Sarkozy made comments asking Quebec sovereigntists to focus on unity and not separation from Canada, and to put their goals of sovereignty on hold during tough economic times

2007

and Sarkozy were together at the party at Fouquet's to celebrate the election of the new President on May 6, 2007

2004

In 2004, Nicolas Sarkozy was a guest at his estate in Sagard, in Charlevoix, a good distance from the Saint Lawrence

2001

Desmarais owned about 15% of Groupe Bruxelles Lambert, a Belgian holding company, which in 2001 acquired a 25% interest in the German media company Bertelsmann, whose subsidiaries include BMG and Random House (the German company Bertelsmann bought the 25% back in July 2006)

1996

He was chairman and chief executive officer of Power Corporation of Canada until 1996 when he passed the reins of management of Power Corporation to his sons, Paul Jr

1984

At the same time, under the leadership of Desmarais, Power Corporation of Canada continued to acquire control positions in Great-West Life and Investors Group which formed the basis of Power Financial Corporation which was founded in 1984

1974

's Great Lakes shipping subsidiary) in 1974 (Desmarais sold the company to Martin in 1981

1968

Acquiring Trans-Canada Corporation Fund, Desmarais obtained the newspaper La Presse in 1968, which enabled him to gain experience in the field of print media in Canada

1927

, PC CC OQ (January 4, 1927 – October 8, 2013) was a Canadian financier and philanthropist, based in Montreal

1897

Desmarais was born in Sudbury, Ontario, to lawyer Jean-Noël Desmarais (3 May 1897 – 1983) and Lébéa Laforest (2 September 1899 – 1984)

1873

Desmarais' grandfather Noël Desmarais 1873–1964 (wife: Roseanna 1874–1964) founded the town of Noëlville, Ontario, now part of the municipality of French River

1600

The Desmarais family is originally from Quebec and descended from Paul Desmarais who moved to Canada from Saint-Sauveur, France in late 1600s

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