Paul Desmarais
Paul Desmarais was born in Greater Sudbury, Ontario, Canada on January 4th, 1927 and is the Entrepreneur. At the age of 86, Paul Desmarais biography, profession, age, height, weight, eye color, hair color, build, measurements, education, career, dating/affair, family, news updates, and networth are available.
At 86 years old, Paul Desmarais physical status not available right now. We will update Paul Desmarais's height, weight, eye color, hair color, build, and measurements.
Paul Desmarais Sr. (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 2011), Desmarais was ranked by Forbes as the fourth wealthiest person in Canada and 235th in the world in 2013.
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, renewable energy, communications and other business sectors. Desmarais was highly regarded for his standard of integrity and his commitment to a united and prosperous Canada.
Personal life
Desmarais was born in Sudbury, Ontario, to lawyer Jean-Noël Desmarais (3 May 1897 – 1983) and Lébéa Laforest (2 September 1899 – 1984). The Desmarais family is originally from Quebec and descended from Paul Desmarais who moved to Canada from Saint-Sauveur-sur-École, Île-de-France in late 1600s.
Desmarais' grandfather Noël Desmarais 1873–1964 (wife: Roseanna 1874–1964) founded the town of Noëlville, Ontario, now part of the municipality of French River.
Two of his brothers, Louis Desmarais and Jean Noël Desmarais, were involved in federal politics.
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.
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.
Career
Desmarais went to Osgoode Law School before beginning to work for Sudbury Bus Lines Limited, a restructured bus company formed from the remnants of his grandfather's Sudbury and Copper Cliff Suburban Electric Railway. Because the company was practically bankrupt, it was sold to him for 1 CAD. He rescued the business and bought additional bus lines in the Ottawa area and Quebec City (including Quebec Autobus, Provincial Transport, and Regional Transport). Desmarais had purchased the Trans-Canada Corporation Fund (TCCF), a three-year institution that had invested in the Bus Line Provincial Transit, an interest in the Toronto-based Imperial Life Assurance and Gesca Ltée (which also had an interest in the Montreal paper La Presse). TCCF made a share exchange bid with Power Corporation of Canada, headquartered in Montreal, Quebec, whereby Paul Desmarais became chairman and chief executive officer and controlling shareholder in 2005.
In 1978, he founded the Canada China Business Council.
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)