Paul Desmarais facts for kids

Paul Desmarais Sr. (January 4, 1927 – October 8, 2013) was a very successful Canadian businessman and a kind-hearted giver. He lived in Montreal, Quebec. In 2013, he was one of the richest people in Canada.

Paul Desmarais was the leader of a big company called Power Corporation of Canada. He was its chairman and chief executive officer until 1996. After that, his sons, Paul Jr. and André, took over. Power Corporation is a large company that invests in many different businesses. These include companies in banking, money management, and clean energy. Paul Desmarais was known for being honest and for loving Canada very much.

About Paul Desmarais' Family Life

Paul Desmarais was born in Sudbury, Ontario. His parents were Jean-Noël Desmarais and Lébéa Laforest. His family came from Quebec a long time ago. They were descendants of Paul Desmarais, who moved to Canada in the late 1600s.

His grandfather, Noël Desmarais, helped start the town of Noëlville, Ontario. This town is now part of French River. Paul had two brothers, Louis Desmarais and Jean Noël Desmarais, who were involved in Canadian politics.

Paul Desmarais married Jacqueline Maranger, who was also from Sudbury. They had four children: two sons, Paul Desmarais Jr. and André Desmarais, and two daughters, Louise and Sophie. André is married to France Chrétien Desmarais, whose father was a Canadian Prime Minister.

The Desmarais family has a very large home in Sagard, Quebec. It is called Domaine Laforest and covers more than 75 square kilometers. They also had other homes in Palm Beach, Florida and New York.

Paul Desmarais' Generosity and Giving Back

Paul Desmarais was a philanthropist. This means he gave a lot of money to help others. He supported the arts, education, health care, and helped people who were homeless. Many of his gifts were given without telling anyone.

When Mr. Desmarais passed away, the Prime Minister of Canada, Stephen Harper, said that he was "one of Canada’s most successful businessmen." He was remembered for his leadership and for helping his community. Many places that received his help also honored him. For example, McGill University said he felt it was his duty to help society.

Today, some buildings are named after him. These include the Jean-Noël Desmarais Pavilion at The Montreal Museum of Fine Arts. Also, the Paul-G.-Desmarais Pavilion is at the Université de Montréal.

Paul Desmarais' Business Journey

After finishing his studies at the University of Ottawa, Paul Desmarais started working for a bus company. His grandfather had started a railway company, and this bus company was formed from it. Paul bought the bus company for only 1 Canadian dollar because it was almost out of money.

He worked hard and made the company successful again. He then bought more bus lines in Ottawa and Quebec City. By 1968, a company he owned, Trans-Canada Corporation Fund (TCCF), owned several bus lines. It also had a share in an insurance company and a newspaper company called Gesca Ltée, which owned the Montreal newspaper La Presse.

In 1968, TCCF joined with Power Corporation of Canada. Paul Desmarais then became the chairman and chief executive officer of Power Corporation. He also became its main owner.

In 1978, he started the Canada China Business Council. This group helps businesses in Canada and China work together.

Growing Power Corporation of Canada

With Paul Desmarais leading the way, Power Corporation of Canada grew a lot. He took control of a large paper company called Consolidated Bathurst. This company later became part of Resolute Forest Products.

Under his leadership, Power Corporation also gained control of Great-West Life and Investors Group. These companies became the foundation of Power Financial Corporation, which was started in 1984.

When he took over Trans-Canada Corporation Fund, Desmarais also got the newspaper La Presse in 1968. This helped him learn about the newspaper business in Canada. He then looked for companies in Europe. He met a Belgian businessman named Albert Frère. They became good friends and used similar business strategies. They would invest in large companies, even some that were having money problems.

Desmarais owned about 15% of Groupe Bruxelles Lambert, a company in Belgium. This company later bought a part of a German media company called Bertelsmann. Bertelsmann owns companies like BMG (music) and Random House (books). Today, Groupe Bruxelles Lambert invests in many global companies in Europe.

Connections in Politics

The Desmarais family had strong connections with politicians around the world. Some people thought these connections gave them an unfair advantage in business.

Paul Desmarais was close to four Canadian Prime Ministers. He was an advisor to Prime Minister Pierre Elliott Trudeau. Brian Mulroney worked for Desmarais before he became Prime Minister. Desmarais also made Paul Martin president of a shipping company he owned. Paul Martin later became Prime Minister too.

Prime Minister Jean Chrétien was related to Desmarais by marriage. Chrétien's daughter France is married to Desmarais' son André. Both Mulroney and Trudeau worked for Power Corporation after they left office.

Paul Desmarais Sr. was also close to former French President Nicolas Sarkozy. Sarkozy visited Desmarais' large estate in Sagard, Quebec. Sarkozy described how big the property was, saying you had to drive "kilometers and kilometers" to reach the main house.

Desmarais did not support the idea of Quebec separating from Canada. In 2009, French President Nicolas Sarkozy made comments asking Quebec to stay united with Canada. Many people who wanted Quebec to be separate believed Sarkozy was influenced by Desmarais.

Paul Desmarais' Passing

The Canadian, Québec and Montréal flags at half-mast in honor of Desmarais at the La Presse building in Montréal.

Paul Desmarais' funeral was a private event for his family. A public memorial was held on December 3, 2013, at Notre-Dame Basilica in Montreal. Many important people attended, including politicians, leaders, and people from business and culture.

Many people shared their thoughts about him:

• George H. W. Bush, a former US President, said Paul was a rare person. He had the drive to succeed in business and was also a great friend. He called him a "true point of light" for helping many good causes.
• Bernard Landry, a former Premier of Quebec, said they disagreed on many things, but they were still friends. They shared ideas about international matters and culture.

Awards and Honors

Paul Desmarais received many important awards for his work and contributions:

• 1978 – Officer of the Order of Canada
• 1987 – Companion of the Order of Canada (a very high honor)
• 1988 – Officer of the National Order of Quebec
• 1991 – Commander of the Order of Léopold II (from Belgium)
• 1992 – Member of the Queen's Privy Council for Canada
• 2008 – Grand Cross of the National Order of the Legion of Honour (from France)

Honorary Degrees

Paul Desmarais also received many honorary degrees from universities across Canada. These degrees are given to people to honor their achievements, even if they did not study at that university.

• University of Moncton
• Wilfrid Laurier University
• University of Ottawa
• St. Francis Xavier University
• Laurentian University
• McMaster University
• University of Montréal
• Memorial University Of Newfoundland
• Concordia University
• McGill University
• Laval University
• University of Toronto
• University of Manitoba

Medals and Ribbons

Paul Desmarais received several medals and ribbons, showing his many honors.

Ribbon bars of Paul Desmarais

See also

In Spanish: Paul Desmarais para niños