Paul Desmarais

Paul Desmarais Sr. was a Canadian financier and philanthropist, based in Montreal. With an estimated family net worth of US$4.5 billion, Desmarais was ranked by Forbes as the fourth wealthiest person in Canada and 235th in the world in 2013. He was chairman and chief executive officer of Power Corporation of Canada until 1996 when he passed the reins of management of Power Corporation to his sons, Paul Jr. and André. He then continued to serve as a director and as chairman of the executive committee of the board, and remained the controlling shareholder. Power Corporation of Canada is a diversified international management and holding company with interests in companies in the financial services, asset management, sustainable and renewable energy, and other business sectors.