Paul Desmarais Net Worth is$4.5 Billion
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Profession: Businessperson
Date of Birth: Jan 4, 1927
Country: Canada
Paul Desmarais net worth: Paul Desmarais Sr. is a Canadian financier who has a net worth of $4.5 billion. Paul Desmarais may not be as well-known as Warren Buffett, but his publicly-traded investment holding firm Power Corp. is said to have many similarities with Buffett's multinational conglomerate Berkshire Hathaway. Paul's Montreal-based Power Corp. and its subsidiaries own financial services companies like the mutual fund company Putnam Investments and insurance firm Great-Life Westco, as well as a share in Chinese conglomerate CITIC Pacific. While together with Belgian billionaire investor Albert Frere, Power Corp. also manages investments in some of the Europe's leading companies like cement giant Lafarge, oil company Total and wine & spirits maker Pernod Ricard. The Canadian billionaire now only chairs the company active in the fields of mass media, pulp and paper and financial services, whereas his sons Andre and Paul, Jr. serve as co-CEOs.
Paul Desmarais, Sr., PC CC (born January 4, 1927, in Sudbury, Ontario) is a Canadian financier in Montreal. With an estimated net worth of $US 4.5 billion (as of March 2011), Desmarais was ranked by Forbes as the 4th wealthiest person in Canada and 235th in the world. He is CEO of the Power Corporation of Canada (PCC), a Canadian company active in the fields of mass media, pulp and paper and financial services.
Desmarais has two sons: Paul Jr. and AndrA(C) (who is married to former Canadian Prime Minister Jean ChrA(C)tien's daughter France) and two daughters, Sophie and Louise. Sophie Desmarais' ex-husband, Eric Le Moyne de SA(C)rigny, is involved in a political financing scandal in France known as the Bettencourt case widely covered by the French media. French President Nicolas Sarkozy came under fire after allegations that his presidential campaign was illegally funded by Liliane Bettencourt, L'OrA(C)al heiress and France's wealthiest woman. SA(C)rigny is close to French President Nicolas Sarkozy, heads numerous companies, and a member of the board of directors of Imerys, a mining company partially owned by a subsidiary of the Power Corporation of Canada and majority owned by the Desmarais family and tycoon Albert FrA?re, the richest man in Belgium who was involved in the UN Oil-for-Food scandal.
He has a large family estate in Sagard, Quebec, Canada between the villages of Saint Simeon and Petit-Saguenay: the field Laforest. His area of over 75 square kilometers has an estimated value of more than $ 50 million (Canadian dollars). The architecture of the mansion was designed and overseen primarily by Sylvain Larouche, head of his team of 18 prominent architects. Desmarais also owns homes in Palm Beach, Florida and New York. Paul Desmarais or his sons belong to associations such as the Bilderberg Group, the North American Competitiveness Council which designed the Security and Prosperity Partnership, as well as the Council on Foreign Relations.
He is a sta

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Paul Desmarais Latest News

Portag3 Ventures Fintech Fund Aims to Reshape Canadian Fintech

Adam Felesky and Paul Desmarais III today announced the closing of a new fund, Portag3 Ventures (“Portag3”), focused on the fintech sector. Felesky, a co-founder and former CEO of Horizons ETFs, has been named President and will run day-to-day ...
Posted: October 17, 2016, 12:31 pm

New pavilion at Sainte-Justine Hospital carries the Desmarais name

The pavilion joins a list of local landmarks that includes the Jean-Noël Desmarais Pavilion at the Montreal Museum of Fine Arts and Pavillon Paul-G. Desmarais at the Université de Montréal. Paul-G. Desmarais, who died three years ago this month at age ...
Posted: October 17, 2016, 5:50 am

Elite athlete visits Ecole secondaire catholique Paul-Desmarais in Stittsville

Having one of Canada’s elite up-and-coming track athletes visit the school and deliver an inspirational message to an assembly of students to generate enthusiasm for participating in the new “La Course des Patriotes” run being organized by Ecole ...
Posted: October 26, 2016, 4:07 am
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