Early Life
Gerald W. Schwartz was born in Winnipeg, Manitoba, Canada, in 1941. He graduated from Kelvin High School and went on to earn a Bachelor of Arts and a Bachelor of Laws degree from the University of Manitoba. He later obtained a Master of Business Administration degree from Harvard University in 1970. Schwartz's early life and education laid the groundwork for his successful career in finance.
Rise to Success
Schwartz's career began in the 1970s, where he worked at Bear Stearns, mentored by Jerome Kohlberg Jr.. In 1977, he co-founded CanWest Global Communications. By 1983, Schwartz established Onex Corporation. Onex has approximately US$51 billion of assets under management. Schwartz served as the CEO of Onex for 39 years, stepping down in May 2023. He is known for his strategic vision and ability to create shareholder value, earning him recognition as a prominent figure in the Canadian business landscape.
Key Business Strategies
Schwartz's business strategy is centered on long-term value creation and a patient investment approach. He emphasizes making decisions based on creating long-term value and operating like a 'forever owner' of assets. He takes considerable time to acquire assets and avoids rushing into deals.
Philanthropy
Gerald Schwartz and his wife, Heather Reisman, are actively involved in philanthropy. They co-founded the Heseg Foundation for Lone Soldiers, which provides scholarships and support to non-Israeli Jews and some Israeli soldiers serving in the Israeli Defense Forces. They have also made significant donations to educational and healthcare institutions, including Mount Sinai Hospital, St. Francis Xavier University, and the University of Toronto. Their philanthropic efforts reflect a commitment to education, healthcare, and support for those serving in the military. The Gerald Schwartz and Heather Reisman Foundation has supported numerous initiatives. In 2018, they donated $5.3 million to St. Francis Xavier University. In 2019, they donated $100 million to the University of Toronto.
