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

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Frank Stronach Latest News

Gulfstream Park owner brings more restaurants to the village

When Frank Stronach arrived in Canada as ... "They were smooth from washing dishes." Stronach, 82, now owns several horse racing tracks across the country, including Gulfstream Park in Hallandale Beach and its adjacent Village at Gulfstream Park, a hub ...
Posted: February 25, 2015, 11:14 am

Frank Stronach Austrian Leadership Bid: Canadian Auto Parts Billionaire Aims To End The Euro

Frank Stronach, the billionaire founder of Canadian car parts giant Magna, has thrown his hat into the ring for the leadership of Austria on a platform calling for the break-up of the euro. The 80-year-old Stronach, who immigrated to Canada in the 1950s ...
Posted: September 26, 2012, 7:14 pm

E-bike brand Elby reports growth in sales and distribution in 2017

Elby was founded in 2015 by automotive industry veterans Frank Stronach and Fred Gingl. It offers a one-size BionX-powered hybrid that's available in single-speed and 9-speed versions, retailing for $3,700 and $3,900, respectively. More information at ...
Posted: December 8, 2017, 2:14 pm
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