Peter Munk

Peter Munk was a Hungarian-Canadian businessman and philanthropist who was born in Budapest, Hungary, in 1927. He was the founder and chairman of Barrick Gold Corporation, the world's largest gold-mining corporation, and one of Canada's leading global corporations. He also founded and led several other high-profile ventures, such as the hi-fi electronics company Clairtone, the real estate company Trizec Properties, and the Munk Debates. He was a prominent figure in Canadian society, known for his vision, leadership, and generosity. He immigrated to Canada in 1948, after escaping the Nazi occupation of Hungary with his family on the Kastner train. He graduated from the University of Toronto with a degree in electrical engineering in 1952. He started his career as a merchant and then a manufacturer, before entering the mining industry in 1983. He transformed Barrick Gold from a small company with one mine into a global giant with operations in over 15 countries. He was known for his innovative and bold strategies, such as hedging, acquisitions, and partnerships. He retired from Barrick Gold in 2014, but remained as chairman emeritus until his death. He was also a passionate philanthropist, who donated nearly $300 million to various causes and institutions, especially in education, health, and culture. He established the Peter Munk Cardiac Centre at the Toronto General Hospital, the Munk School of Global Affairs at the University of Toronto, and the Munk Debates. He also supported the Technion-Israel Institute of Technology, the Fraser Institute, and the Royal Ontario Museum. He received numerous awards and honors for his achievements, such as the Order of Canada, the Order of Hungary, the Woodrow Wilson Award, and the Queen Elizabeth II Diamond Jubilee Medal. He was also inducted into the Canadian Business Hall of Fame and the Canadian Mining Hall of Fame. He died of natural causes in 2018 at the age of 90. He was survived by his wife, Melanie, his five children, and his 14 grandchildren. He was remembered as a visionary entrepreneur, a generous benefactor, and a proud Canadian.