Paul Desmarais Net Worth

Paul Desmarais, who has died aged 86, was one of the richest billionaires in the world. He made his fortune through a series of business ventures, starting with a paper mill in Northern Quebec. From there, he built up an empire that included holdings in energy, transportation and banking. Desmarais was also known for his philanthropy; he donated millions of dollars to charitable causes throughout his life. His sons continue to run the family businesses today.

Paul Desmarais’s Education, Career

Paul Desmarais was born in 1933 in a small town in northern Quebec. The son of a station agent for the Canadian Pacific Railway, he was the eldest of four children. After completing high school, he enrolled at the University of Ottawa, where he studied economics and political science. He graduated with a Bachelor of Arts degree in 1955.

Following graduation, Desmarais began his career as a trainee at Westbury National Bank in Montreal. He quickly rose through the ranks, becoming vice-president of the bank in 1968. In 1969, he co-founded Power Corporation of Canada with his father-in-law, Paul G. Paul G. Montpetit. Power Corporation is a holding company with interests in insurance, banking, media, and other sectors. Desmarais served as CEO of Power Corporation from 1974 to 1996, and as Chairman from 1996 to 2013. He remained involved with the company until his death in 2020.

Under Desmarais’ leadership, Power Corporation grew to become one of the largest companies in Canada. It also became one of the most influential, with Desmarais himself being counted among the country’s richest and most powerful men.

How much is Paul Desmarais Net Worth?

Paul Desmarais is a Canadian billionaire who has an estimated net worth of $4.6 billion. He is the founder and chairman of Power Corporation of Canada, one of the country’s largest conglomerates. Desmarais began his career as a lawyer, but he soon shifted his focus to business. In 1968, he founded Power Corporation, which would become a leading player in the Canadian financial services industry. Through a series of acquisitions, Desmarais built Power Corporation into a massive conglomerate with interests in insurance, media, energy, and other industries. Today, Desmarais is one of the richest men in Canada, and his company holds considerable sway over the country’s economy. Paul Desmarais is a Canadian billionaire with an estimated net worth of $4.6 billion. He is the founder and chairman of Power Corporation of Canada, one of the country’s largest conglomerates. As the head of a powerful financial services empire, Desmarais wields significant influence over the Canadian economy.

Conclusion

Paul Desmarais Sr. was a Canadian business magnate and philanthropist who made his fortune in business, primarily in the financial services sector. He was the co-founder, chairman and CEO of Power Corporation of Canada, as well as its major subsidiary companies such as La Presse newspaper, Gesca Ltd., and Pargesa Holding SA. He also had significant holdings in other companies, including Aetna Inc., Banque Nationale de Paris (BNP), Domtar Inc., Sun Life Financial, and several others. Desmarais was known for his strong work ethic and his dedication to both his businesses and his philanthropy. He passed away in 2013 at the age of 86 after a lengthy illness.