Paul Desmarais

Paul Desmarais was a Canadian businessman and philanthropist who was the chairman and CEO of Power Corporation of Canada, a diversified holding company with interests in financial services, media, energy, and other sectors. He was born in Sudbury, Ontario, Canada on January 4, 1927, to Jean-Noël Desmarais, a lawyer, and Lébéa Laforest. He studied at the University of Ottawa and started his career as a bus driver and operator in his hometown. He later acquired several bus companies and expanded his business into other fields, such as newspapers, pulp and paper, and insurance. In 1968, he took control of Power Corporation of Canada, which became one of the largest and most influential corporations in the country. He also established strong ties with political and business leaders in Canada and abroad, especially in France and China. He was a supporter of federalism and national unity, and a generous donor to various cultural, educational, and health causes. He was married to Jacqueline Maranger, also from Sudbury, and they had four children, two of whom, Paul Jr. and André, succeeded him as co-CEOs of Power Corporation. He was appointed an Officer of the Order of Canada in 1978, a Companion of the Order of Canada in 1986, and a member of the Queen's Privy Council for Canada in 1992. He also received several honorary degrees and awards from various institutions. He died of heart failure on October 8, 2013, in Sagard, Quebec, Canada, and was buried there. He is regarded as one of the most successful and influential businessmen and philanthropists in Canadian history.