Fred and Ron Mannix are Canadian billionaire brothers who manage the Mancal Group. This is a group that has interest in real estate, energy and mining. They are the grandsons of Frederic S. Mannix who established their family empire in 1898. Their father, Fredrick C. Mannix diversified the business during the 1950s and established a highly successful business empire with a group of companies. He retired from active involvement in the family business in the 1970s and passed the company’s responsibility to his two sons, Fred and Ron Mannix.
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The two brothers sold some of the Mannix family managed companies such as Pembina Resources, Pembina Pipeline and Manalta to public markets through asset sale, royalty trust and income trust respectively for more than $2 billion. This enabled them to advance all their real estate planning. Ron Mannix founded a company known as Coril Holdings Ltd and put former executives of Loram group in charge of continuing with the railroad activities as well as pursuing various other investments including real estate.
The Mannix brothers run the Mancal Group out of Calgary. Even though the brothers are renowned billionaires, they have tried to keep themselves away from public scrutiny over the years. They tend to avoid the media spotlight at all cost. They are also active philanthropists and have donated millions of dollars to various charities.