Latest news with #AzrieliFoundation
Montreal Gazette
11-07-2025
- Business
- Montreal Gazette
News Quebec's 25 richest people and the empires behind their billions
To break into Quebec's wealthiest club, you'll need more than a billion dollars. That's the entry price for The Gazette's inaugural Rich List, which ranks the province's 25 wealthiest individuals and families. Together, they hold nearly $87 billion in net worth, from a convenience-store empire and dairy dynasty, to a paper fortune and finance giant. This elite crowd has quietly stacked billions. Some inherited it. Some built it. A few did both. But they all have one thing in common: they're the richest people in the province. The list is dominated by family names most Quebecers would recognize: the Saputos in dairy, the Molsons in beer and hockey, and the Desmarais brothers in finance. But there are also surprises — including unexpected new fortunes and fresh entrants to Quebec's club of billionaires. At the very top is Alain Bouchard, whose estimated $9-billion fortune began with a single dépanneur in Laval in 1980. Born in Saguenay, Bouchard was one of four friends who launched what would become the Couche-Tard empire — now nearly 17,000 convenience stores across the globe. Behind the Rich List: How we calculated it The company's success is no small feat. In fact, no Quebec company has created more individual billionaires. Bouchard's co-founders Jacques D'Amours, Richard Fortin and Réal Plourde all appear on this year's list. Together, they control more than $17 billion. In second place are Naomi, Sharon and Danna Azrieli, with $7.7 billion to their names. They run Israel's biggest real estate company, built by their late father David — a Holocaust survivor who moved to Montreal. They also manage the Azrieli Foundation, Canada's largest family charity, with over $2.4 billion in assets. The Desmarais family, with Paul Desmarais Jr. and André Desmarais at the helm of Power Corp, are worth an estimated $7 billion through holdings in insurance, energy and asset management. They rank third on the list. The youngest self-made billionaire on the list is Ryan Cohen, 39, who co-founded Chewy in 2011 and sold it to PetSmart for more than $4.5 billion in 2017. He later became a major investor in GameStop and Alibaba. At the other end of the spectrum is Stephen Jarislowsky, the 99-year-old investment legend behind Jarislowsky Fraser. Still one of Canada's most respected investors, he ranks near the bottom of the list with an estimated net worth of $1.5 billion. Why some didn't make the cut Some names remain difficult to assess. The Bronfman family's wealth — once synonymous with the Seagram empire — has become fragmented over time, with much of it now housed in their family investment office, Claridge. They were excluded from the ranking due to limited transparency. To compile this ranking, The Gazette conducted a months-long review of stock filings, property records, company disclosures and legal documents. We tracked shareholdings and estimated private-company valuations. What we couldn't include: Why it's so hard to track the fortunes of Quebec's wealthiest But in Quebec, financial information about private companies and family investment firms is often scarce. That means the numbers on this list are deliberately conservative. In reality, Quebec's billionaires may be richer than they appear. This story was originally published July 11, 2025 at 6:00 AM. Related Stories from Montreal Gazette News Missing billions? Why it's so hard to track the fortunes of Quebec's wealthiest July 11, 2025 6:00 AM News Rich List Exclusive: How the Azrielis built Canada's largest family foundation July 11, 2025 6:00 AM
Montreal Gazette
11-07-2025
- Business
- Montreal Gazette
Rich List Exclusive: How the Azrielis built Canada's largest family foundation
In 2004, real estate tycoon David Azrieli gathered his family to map out a new kind of legacy. After decades spent reshaping skylines across Israel, he turned his focus to philanthropy. The result is now Canada's largest family-led philanthropic foundation. With more than $2.4 billion in assets, the Azrieli Foundation disbursed over $116 million in 2023 alone. It is second in scale only to the Mastercard Foundation. David died in 2014. Now his daughters Naomi, Sharon, and Danna collectively oversee the foundation, which has given more than $600 million since becoming more active in 2004, though it was originally founded several decades earlier. Naomi manages day-to-day operations. Sharon, a classically trained singer, leads funding in music, arts and culture. Danna, who lives in Israel and oversees the family's business there, focuses on supporting Jewish communities. 'I am chair of the board and also CEO of the day-to-day operations,' Naomi told The Gazette. 'But my sisters are very involved ... in a guiding way and as a result of their expertise.' The foundation's first three priorities were set with their father in 2004: support for vulnerable youth, elite researchers and Holocaust memory. 'He had three ideas,' Naomi said. 'One was educational opportunities for vulnerable youth. ... That became our educational empowerment program. The second was support for elite early-career researchers. That became our Azrieli Fellows Program. And the third was Holocaust memory, publishing first-person accounts of survivors who came to Canada after the war. We continue those to this day.' By the numbers Assets in 2023: $2.4 billion Total donations to date: $600 million+ 2023 disbursements: $116 million Family net worth: $7.7 billion Founded: 1989 (first active decade began in 2004) Naomi said the foundation has expanded into new areas over time. 'We've developed further in health care and science, especially neurodevelopment and research on the brain,' she said. Montreal, she added, remains central to the foundation's work. 'It's where we grew up. It's where we started,' Naomi said. 'Even when we're piloting something new, we often start in Montreal.' Recent initiatives include a $50-million child health partnership between the Ste-Justine Hospital and SickKids, a $3-million gift to Summit School for a new neurodiverse campus, and over $15 million as lead donor to the new Montreal Holocaust Museum. The foundation also gave $2 million to the Montreal Symphony Orchestra to expand an immersive music education program for children in underserved communities. Whether a grant is large or modest, Naomi emphasized, the key is how it's used. 'It's not always about how much money — it's about how it's deployed. Some organizations do a lot with $50,000. Others need $5 million.' That philosophy shapes how the foundation measures impact. 'Sometimes an organization doesn't meet the mark. It happens. That's why we keep things high-touch,' she said. 'We look at scale, at sustainability, at whether they brought in other partners. We try to walk away in a way that doesn't hurt people — or help them find better-aligned funders.' Naomi said her leadership style draws heavily on lessons from her father as well as her mother, Stephanie. 'The best leaders make a habit of listening more than talking,' she said. 'And sometimes, you need to listen for what isn't said.' On women in leadership, she said: 'It's still far too rare. I'm very proud that my entire C-suite is women — not because we set out to do that, but because they were the best people. If I had to give advice, I'd say resilience is the key. Skills matter, yes. But it's bouncing back after setbacks — that's what makes the difference.' 'Be persistent,' she added. 'But persistence doesn't mean going it alone. Sometimes you need to know when to delegate. And leaning into those collaborations is actually also a way to empower others.' She said the foundation aims to be more than generous — it aims to be generative. 'We try to be catalytic. Sometimes that means high-profile investments. Other times, it's smaller things that would otherwise be overlooked. Either way, the goal is to make things happen.' Looking ahead, she said the foundation won't shift focus but will look to expand its impact. 'We're not trying to reinvent the mission,' she said. 'We're doubling down — in science and health care, in music and arts, and in strengthening Jewish communities, especially in this challenging time. 'If you look back in 20 years, you'll recognize the journey,' she added. 'The mission will still be there. Even if the projects evolve, the values will stay the same.' This story was originally published July 11, 2025 at 6:00 AM.
Ottawa Citizen
14-06-2025
- Politics
- Ottawa Citizen
Spiegel: Increase in antisemitism shows Holocaust education is failing us
This week, the National Holocaust Monument in Ottawa was defaced — a stark and shameful reminder that even memory itself is under attack. The monument stands not only to commemorate the past, but to warn the present. Its desecration is not an isolated act of ignorance; it's a symptom of something deeper, more dangerous — and growing. Article content We are shocked, but also disoriented. For the past three generations, many Jews in Canada have experienced a remarkable period of welcome. We were invited in, embraced. We took leadership roles, shaped cultural life, became, in a sense, part of the mainstream. Article content Article content Article content Now we've been jolted awake by a painful truth: the welcome was conditional. Article content We've had an 80-year holiday from history — a brief pause in the centuries-long cycle of exclusion, scapegoating and violence. That holiday is over. Article content And while this awakening is most deeply felt in Jewish communities, it cannot remain our burden alone. Antisemitism is a threat to democratic life, not just Jewish life. The integrity of our classrooms and the health of our civic discourse depend on others speaking up. Holocaust education was never meant to be a siloed, Jewish project. It is a call to conscience, and that call must be answered by everyone. Article content What's even more jarring is that Holocaust education appears to be faltering. Article content Blurring the lines Article content A critical mistake was made. In the effort to ensure 'never again,' the Holocaust was universalized to such an extent that its specificity was stripped away. Its horrors were collapsed into broad 'lessons' about tolerance and human rights, applied to issues ranging from bullying to environmental injustice. In the process, the ideological clarity that defined the Holocaust as a distinct and targeted genocide was blurred. Article content Article content Holocaust education must be rethought, rebalanced and deepened. Article content Article content For many Canadian students, their first, and only, exposure to Jewish identity comes through Holocaust education. While that education is vital, and central to our work at the Azrieli Foundation's Holocaust Survivor Memoirs Program, it cannot be the only lens through which we see Jewish people. We must teach Jewish life, not just Jewish death. Article content Jewish peoplehood spans thousands of years, across every continent, rich with joy, resilience, tradition and creativity. When students understand the full picture, they're better equipped to recognize and confront antisemitism. They're also more likely to build authentic relationships with Jewish peers and see Jewish experience as part of the broader Canadian story.
Yahoo
04-02-2025
- Entertainment
- Yahoo
Two jurors withdrew from Giller Prize in the weeks before news of Scotiabank split
TORONTO — Two Giller Prize jurors withdrew from their positions in the weeks leading up to the literary award's split from its lead sponsor Scotiabank. Canadian authors Jordan Abel and Aaron Tucker say they dropped out for ethical reasons days after being named to the five-member jury for the $100,000 fiction prize. Executive director Elana Rabinovitch did not say whether the resignations or ongoing protests had anything to do with an early end to the Giller's decades-long partnership with Scotiabank, only saying of the departures by email: "I wish them well." The Giller Foundation has faced sustained pressure since November 2023 to cut three of its sponsors over their relationships with Israel, most notably a Scotiabank subsidiary's investment in Israeli arms manufacturer Elbit Systems. Abel and Tucker were quietly removed from a list of jurors on the Giller website sometime between their announcement Jan. 15 and news of the split with Scotiabank on Monday. In an emailed statement, Tucker said he was never fully on board with the Giller's funding, but initially thought it was something he could "tolerate" for the sake of uplifting writers. "As I read more and learned more and listened more, I found myself unable to continue as a jury member. I should have taken the time to do this before I said yes, and not rushed naively into my choice," said Tucker, an author of seven books including the novel "Y: Oppenheimer, Horseman of Los Alamos." Both Tucker and Abel — a Nisga'a writer who most recently won the Governor General's Literary Award for his novel "Empty Spaces" — say they have no plans to return to the Giller jury, despite the end of the partnership with Scotiabank. The remaining jurors are Dionne Irving, Loghan Paylor and Deepa Rajagopalan, who are all recent Giller finalists. Many authors and other workers in the books sector have joined a boycott of the Giller, saying they won't submit their works or engage with the prize until the award also severs ties with sponsors Indigo Books and the Azrieli Foundation. Protesters object to the Giller's partnerships with Indigo for its CEO's charity that supports Israeli Defense Force officers from abroad, as well as the Azrieli Foundation, in part for its connection to Israeli real estate company Azrieli Group, which has a stake in Bank Leumi. The United Nations Human Rights Office has included Bank Leumi on a list of businesses involved in activities relating to settlements in the occupied Palestinian territory. The initial protests at the 2023 ceremony came just a month after Israel declared war on Hamas over an attack in which the militant group kidnapped scores of Israelis. Israel says 1,200 people were killed in Hamas' initial attack. Gaza's health ministry says more than 46,000 Palestinians have been killed in the subsequent bombardment, many of them women and children. This report by The Canadian Press was first published Feb. 4, 2025. Nicole Thompson, The Canadian Press
