Paul Desmarais
Chief Executive Officer of Power Corporation of Canada Founding Chairman of the Canada China Business Council | |
---|---|
Spouse | Jacqueline Maranger |
Children | 4, including Paul Desmarais Jr. and André Desmarais |
Awards | 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 (1991) Member of the Queen's Privy Council for Canada (1992) Grand Cross of the Legion of Honour (2008) |
Paul Desmarais Sr. PC CC OQ (January 4, 1927 – October 8, 2013) was a Canadian financier and philanthropist, based in Montreal. With an estimated family net worth of US$4.5 billion (as of March 2012), Desmarais was ranked by Forbes as the fourth wealthiest person in Canada and 235th in the world in 2013.[1] 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. and André. He then continued to serve as a director and as chairman of the executive committee of the board, and remained the controlling shareholder. Power Corporation of Canada is a diversified international management and holding company with interests in companies in the financial services, asset management, sustainable and renewable energy, and other business sectors.
Desmarais was highly regarded for his standard of integrity and his commitment to a united and prosperous Canada.[2][3]
Personal life
Desmarais was born in
Desmarais' grandfather
Two of his brothers, Louis Desmarais and Jean Noël Desmarais, were involved in federal politics.[8][9]
Desmarais was married to Jacqueline Maranger, also from Sudbury. They had two sons: Paul Jr. and André (who is married to former Canadian Prime Minister Jean Chrétien's daughter France) and two daughters, Louise and Sophie.[10]
The Desmarais family has a large family estate in Sagard, Quebec, Canada, between the villages of Saint-Siméon and Petit-Saguenay: Domaine Laforest. The area of the estate is over 75 square kilometers. The Desmarais family also owned secondary homes in Palm Beach, Florida and New York at the time of his death.[11]
Philanthropy
Desmarais was a philanthropist, making substantial contributions (many anonymously) to the arts, education, health and the homeless.[12][13]
At the time of M. Desmarais' death, Prime Minister Stephen Harper said in a statement that Desmarais was “one of Canada’s most successful businessmen” and will be remembered for his leadership, his philanthropy and community involvement as well as his “profound attachment to his country.”[14] Many institutions, which benefited from Desmarais' contributions also paid tribute to the business man. These include McGill University “He was someone who felt an obligation to contribute to our broader society in many different ways and we were all the richer for that.”[15]
Today, many pavilions are named in his honour, including the Jean-Noël Desmarais Pavilion at The Montreal Museum of Fine Arts and the Paul-G.-Desmarais Pavilion at the Université de Montréal.
Career
After graduating from the
He founded the Canada China Business Council in 1978.
Power Corporation of Canada
Taking advantage of the substantial investment of
Politics
The Desmarais family enjoys connections to politicians worldwide. Critics charge that the family's
According to a profile in
According to Le Figaro, Paul Desmarais Sr. was a close associate of former
Desmarais was an opponent of the Quebec sovereignty movement. 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. This angered many sovereigntists who claimed that Sarkozy was acting under the influence of Desmarais.[24]
Death
Desmarais' funeral was a private event.[25] A public memorial was held on December 3, 2013 at Notre-Dame Basilica in Montreal.[26] Many politicians, dignitaries and members of the business and cultural communities were present, including: Laurent Beaudoin, Robert Charlebois, Jean Chrétien, Bill Davis, Denis Coderre, Stephen Harper, Pauline Marois, Brian Mulroney, Bob Rae and Nicolas Sarkozy.[27] Many testimonials were shared around the time of his death and the ceremony:
- George H. W. Bush: “Paul was that rarest of men, who possess not only the drive, the integrity and the vision to succeed spectacularly in business, but also a tremendous capacity for friendship. He was what I would call a true point of light, helping and usually leading many worthwhile causes. So, yes, I liked and I respected this good man immensely. At age 89 and a half, I recognize more than ever the importance and the blessings of friendship.”
- Bernard Landry: “We were totally opposed on many matters — the national fate of Quebec of course, the management of modern capitalism. But for many other things, internationalism, culture, we were on the same floor. And that’s why we remained friends.” [28]
Awards
- 1978 – Officer of the Order of Canada
- 1987 – Companion of the Order of Canada
- 1988 – Officer of the National Order of Quebec
- 1991 – Commandeur de l’Ordre de Léopold II (Belgium)
- 1992 – Member of the Queen's Privy Council for Canada
- 2008 – Grand Cross of the National Order of the Legion of Honour (France)
Honorary degrees
- LL.D., University of Moncton, Moncton, New Brunswick
- LL.D., Wilfrid Laurier University, Waterloo, Ontario
- D.Adm., University of Ottawa, Ottawa, Ontario
- LL.D., St. Francis Xavier University, Antigonish, Nova-Scotia
- LL.D., Laurentian University, Greater Sudbury, Ontario
- LL.D., McMaster University, Hamilton, Ontario
- Doctorate Honoris Causa, University of Montréal, Montréal, Québec
- LL.D., Memorial University Of Newfoundland, St. John's, Newfoundland
- LL.D., Concordia University, Montréal, Québec
- LL.D., McGill University, Montréal, Québec
- D.Adm., Laval University, Québec, Québec
- LL.D., University of Toronto, Toronto, Ontario
- LL.D., University of Manitoba, Winnipeg, Manitoba
Medals
Honours
Ribbon bars of Paul Desmarais | |||
---|---|---|---|
References
- ^ "The World's Billionaires List". Forbes. March 2013. Retrieved 9 October 2013.
- ^ "Paul Desmarais Sr, Canadian billionaire". Financial Times. 9 October 2013. Archived from the original on 10 December 2022.
- ^ "Politicians past and present pay tribute to the late Paul Desmarais - Canadian Business".
- ^ "archiver.rootsweb.ancestry.com/th/read/QUEBEC-RESEARCH/2001-04/0987274011". archiver.rootsweb.ancestry.com. Retrieved 21 December 2020.
- ^ a b Jean Yves Pelletier. "Paul Desmarais". The Canadian Encyclopedia. Archived from the original on 4 June 2012. Retrieved 27 July 2014.
- ^ "Genealogy tree family: Laforest". Nosorigines.qc.ca. Retrieved 27 July 2014.
- ^ "Genealogy Paul Desmarais". Nosorigines.qc.ca. 14 January 2007. Retrieved 18 July 2014.
- ^ "Louis DESMARAIS Obituary (1923 - 2017) - The Gazette". www.legacy.com.
- ^ "Quebec Superior Court judge allows $100-million Desmarais lawsuit".
- ^ André et Paul Jr deviennent Officiers, Québec Métro, June 20, 2009.
- ^ Desmarais advances on Buffett zone, The Australian, August 3, 2009.
- ^ "Paul Desmarais : entrepreneur, financier et philanthrope modèle". www.lesaffaires.com.
- ^ Duhamel, Pierre (9 October 2013). "Paul Desmarais en cinq temps". L’actualité.
- ^ "Canadian business tycoon Paul Desmarais dies at age 86". thestar.com. 9 October 2013.
- ^ Julie C. Fortier. "Statement on the death of Paul Desmarais Sr". Newsroom.
- ^ "Paul Desmarais | the Canadian Encyclopedia".
- ^ The Name Is ‘Power’ and It Fits, The New York Times, January 26, 2007.
- ^ "Restructuring and Expanding". www.powercorporationhistory.com. Retrieved 25 September 2017.
- ^ "Pargesa - Companies". www.powercorporation.com. Retrieved 25 September 2017.
- ^ The Name Is ‘Power’ and It Fits, The New York Times, January 26, 2007.
- ^ a b c d e Desmarais advances on Buffett zone, The Australian, August 3, 2009.
- ^ « Vacances du président : la piste canadienne » Le Figaro.
- ^ Un Sarkozy chez Carlyle, l'autre décore Albert Frère : y a-t-il un lien ? Archived 2010-07-02 at the Wayback Machine, Trends, March 6, 2008.
- ^ Authier, Philip; O'Neil, Peter (3 February 2009). "Sarkozy's sovereignty comments spark anger in Quebec". The National Post. Canwest News Service. Archived from the original on 6 September 2012. Retrieved 25 January 2010.
- ^ "Le village de Sagard rend hommage à Paul Desmarais". 13 October 2013. Retrieved 30 October 2014.
- ^ "Paul Desmarais remembered as visionary entrepreneur with great influence". CBC News.
- ^ "Paul Desmarais's funeral draws A-list of politics past and present". Retrieved 30 October 2014.
- ^ "Politicians past and present pay tribute to the late Paul Desmarais". Retrieved 30 October 2014.