What is Paul Desmarais' Net Worth?
Paul Desmarais Sr. was a Canadian financier who had a net worth of $4.5 billion. Paul Desmarais may not have been as well-known as Warren Buffett, but his publicly-traded investment holding firm Power Corp. is still compared with Buffett's multinational conglomerate Berkshire Hathaway. The Canadian billionaire, who died in October 2013, chaired the company to the very end, whereas his sons Andre and Paul, Jr. continue to serve as co-CEOs.
Today, the Montreal-based Power Corp. and its subsidiaries own such financial services companies as the mutual fund company Putnam Investments and insurance firm Great-Life Westco, as well as a share in Chinese conglomerate CITIC Pacific. Also, together with Belgian billionaire investor Albert Frere, Power Corp. manages investments in some of the Europe's leading companies like cement giant Lafarge, oil company Total and wine & spirits maker Pernod Ricard.
