Frank Stronach Net Worth is$1.2 Billion
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Profession: Entrepreneur, Businessperson
Nationality: Canada
Date of Birth: 1932-09-06
Place of Birth: Gutenberg an der Raabklamm
Frank Stronach Net Worth: Frank Stronach is an Austrian and Canadian businessman and politician who has a net worth of $1.2 billion. Frank Stronach is the founder of automotive parts maker Magna International, real estate operator Granite Real Estate, as well as gambling and horse racing company Stronach Group. Even though Magna is one of the largest automotive part suppliers in the world today with nearly $30 billion in sales, he decided to divest himself from almost all equity in the company in order to turn his professional career to European politics. It was in 2011 that the Austrian-born Stronach revealed his plans to enter politics and the same year he formed the Stronach Institute that lead a campaign for classical liberalism and against the Euro. In 2012, he set up the political party Team Stronach for Austria, which has gained attraction in the country and has been holding five seats in parliament as of November 2012. Horse racing being one of Stronach's greatest passions; he owns several racetracks via his Stronach Group and he is a successful horse breeder as well.
Frank Stronach, CM (born Franz Strohsack; 6 September 1932) is an Austrian and Canadian businessman and politician.
He is the founder of Magna International, an international automotive parts company based in Aurora, Ontario, Canada, Granite Real Estate, and Stronach Group, which specializes in horse-racing. With an estimated net worth of $CAD 3.12 billion (as of November 2013), Stronach was ranked by Canadian Business as the 19th wealthiest Canadian.
In 2011, he entered Austrian politics: founding the Stronach Institute to campaign for classical liberalism[citation needed] and against the Euro. In 2012, he founded the political party Team Stronach for Austria.

Born as Franz Strohsack in Kleinsemmering, Styria, Austria to working-class parents, Stronach's childhood was marked by the Great Depression and the Second World War. At age 14, he left school to apprentice as a tool and die maker. In 1954, he arrived in Montreal, Quebec, and later moved to Ontario.
He married Elfriede Sallmutter, a fellow Austrian. They have two children: Belinda Stronach, a former Liberal (and previously Conservative) MP and former CEO of Magna, and Andrew Stronach, who is involved in thoroughbred horse racing, via the Adena Springs Farms breeding operations. He divides his time between Oberwaltersdorf, Austria and Aurora, Ontario.[citation needed]
In 1956, Stronach started his first business, Multimatic Investments Ltd., in the old manufacturing district of Toronto. In 1969, his firm acquired its first automotive parts contract and merged with Magna Electronics. In 1973, the name was converted from Multimatic Investments Ltd to Magna International Ltd. Over the following decades, after several mergers and acquisitions, his business gradually became the major force it is today. Stronach, who is currently the non-executive chairman of Magna International, holds multiple-voting shares of the company, which gives him majority voting power over issues brought to sharehold

Frank Stronach Latest News

Frank Stronach goes to Florida

The city of Ocala, Fla., was known as the Gateway to the Magic Kingdom until Disney closed its welcome centre six years ago. These days, the local newspaper has given it a new nickname: The Land of Stronach. Since his exit from the helm of Aurora, Ont.
Posted: March 7, 2012, 4:00 pm

Crunch Time Nears for Schafer and Pegasus Cup

Do I see a reality series in the making? No sooner did the announcement come with the details of this wild race, the brainchild of Frank Stronach, all 12 spots were gone. Those who purchased a place in the starting gate are the owners of California Chrome ...
Posted: October 13, 2016, 11:40 am

Stronach group buys historical racing company

The Stronach Group, the racing company controlled by owner-breeder Frank Stronach, purchased the historical racing machine operator RaceTech earlier this summer, the top official of RaceTech confirmed on Tuesday. The acquisition, which was first reported ...
Posted: October 18, 2016, 9:50 am
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