page_title: Paul Desmarais
section_title: Death
hierarchical_section_title: Paul Desmarais / Death
caption_attribution_description: A picture taken of the La Presse's building in Montréal, with it Canadian, Québec and Montréal flags half-masted in honour of Mr. Desmarais
context_page_description: Paul Desmarais Sr. PC CC OQ 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.
  Desmarais was highly regarded for his standard of integrity and his commitment to a united and prosperous Canada.
context_section_description: Desmarais' funeral was a private event. A public memorial was held on December 3, 2013 at Notre-Dame Basilica in Montreal. Many politicians, dignitaries and members of the business and cultural communities were present, including: Laurent Beaudoin, Robert Charlebois, Jean Chrétien, Bill Davis, Denis Coderre, Stephen Harper, Pauline Marois, Brian Mulroney, Bob Rae and Nicolas Sarkozy. Many testimonials were shared around the time of his death and the ceremony:
  - George H. W. Bush: “Paul was that rarest of men, who possess not only the drive, the integrity and the vision to succeed spectacularly in business, but also a tremendous capacity for friendship. He was what I would call a true point of light, helping and usually leading many worthwhile causes. So, yes, I liked and I respected this good man immensely. At age 89 and a half, I recognize more than ever the importance and the blessings of friendship.”
  - Bernard Landry: “We were totally opposed on many matters — the national fate of Quebec of course, the management of modern capitalism. But for many other things, internationalism, culture, we were on the same floor. And that’s why we remained friends.”
caption: The Canadian, Québec and Montréal flags half-masted in honor of Desmarais at the La Presse building in Montréal.
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