Frank Stronach is an Austrian-Canadian politician and businessman. He is currently one of the richest people in Canada with his massive fortune of $3.1 billion. He is the founder of an international automotive parts company known as Magna International, which is based in Aurora, Ontario, Canada. He serves as the non-executive Chairman of the company, and holds multiple- voting shares, which gives him majority voting power. He is also the owner of Granite Real Estate as well as the Stronach Group, which mostly specializes in horse-racing.
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Stronach’s business career started in 1956, when he founded Multimatic Investments Ltd. In 1969, the company obtained its 1st automotive parts contract. After merging with Magma electronics, its name was changed to Magna International Ltd from Multimatic Investments. After several acquisitions and merges over the next few decades, the company had gradually become a major force in its line of business.
Stronach decided to enter the politics arena in the year 2011, consequently establishing the Stronach Institute that campaigned for classical liberalism in the country. A year later, he established a political party known as Team Stronach for Austria. This 82-year old self-made billionaire is married to Elfriede Sallmutter, with whom he has two children named Belinda and Andrew.