Jim Pattison | |
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.jpg) Pattison in 2015 | |
| Born | James Allen Pattison (1928-10-01)October 1, 1928 (age 97) Saskatoon,Saskatchewan, Canada |
| Alma mater | Sauder School of Business (dropped out) |
| Occupation(s) | Businessman, investor, philanthropist |
| Known for | Founder of theJim Pattison Group |
| Spouse | Mary Hudson |
| Children | 3 |
James Allen PattisonOC OBC (born October 1, 1928) is a Canadianbusiness magnate and investor. He is based inVancouver, British Columbia, where he holds the position of chief executive officer, chairman and sole owner of theJim Pattison Group, Canada's second largest privately held company, with more than 45,000 employees worldwide, and annual sales of $10.1 billion.[1] The Group is active in 25 divisions, according toForbes, including packaging, food, and forestry products.[2]
In 2015, he was considered to be Canada's fourth richest person.[3][4] According toForbes, Pattison's net worth in late 2018 was $5.7 billion, having increased substantially from the $2.1 billion reported in March 2009.[2] At the time, he was described as Canada's third richest man byBloomberg News.[5]
Pattison was inducted into Canada's Walk of Fame in December 2018, having previously been appointed to theOrder of Canada (1987) and theOrder of British Columbia (1990), and receiving the Governor General’s Commemorative Medal for the 125th Anniversary in Canada. Other recognitions include being inducted into theCanadian Business Hall of Fame and the Canadian Professional Sales Association Hall of Fame, as well as Entrepreneur of the Year – Lifetime Achievement Award (2000), the International Horatio Alger Award (U.S.A., 2004), and the Young Presidents Organization Canadian Icon Award (2007).[4]
Pattison's parents resided in the rural town ofLuseland, Saskatchewan,[6] when he was born at the hospital in nearbySaskatoon.[7] The family moved toEast Vancouver,British Columbia when Pattison was six years old, but he returned to Saskatchewan during summers.[5]
His first summer job was playing trumpet at a children's church camp[6] and later picking fruit (raspberries, cherries, and peaches) during the summer while in high school.[6] Pattison held many jobs while in high school, including selling doughnuts in the school parking lot, selling seeds door-to-door, delivering newspapers, and working as a page boy at theGeorgia Hotel.[8] He graduated fromJohn Oliver Secondary School in 1947.[9]
After high school, he worked in a cannery, a packing house, as a labourer building bridges in the mountains, and then for theCanadian Pacific Railway as a dining car attendant[6] before accepting a job washing cars at a gas station with a small attached used-car lot.[6] By chance, while the regular salesman was away, Pattison sold one of the cars on the lot and found his calling.[6] He parlayed his sales success into a job selling used cars during the summer at one of the largest used-car lots in Vancouver, using his earnings that he made to pay for his tuition while studying at theUniversity of British Columbia'sSauder School of Business[6] (Pattison did not complete his studies,[10] since he was three classes short of a completing a four-year bachelor's of commerce degree).[6]
In the summer of 1948, while taking a break from his studies, Pattison was employed at Richmond Motors in the southern Vancouver suburb of Richmond, British Columbia. Although he was primarily responsible for washing cars, his job also involved selling them. In summer 1949, he worked for Kingsway, a used car dealer in Vancouver. "I worked there all summer and then [my boss] gave me a car to drive to university. So, I then started to sell used cars at UBC," Pattison told a reporter.[11]
In 1961 he was able to persuade aRoyal Bank manager to lend him $40,000,[5] significantly more than the branch's lending limit, to open aPontiac dealership on Main Street near his children's elementary school.[12] To complete the funding, he also sold his house, assigned the cash surrender value of his life insurance policy to General Motors and took a loan from GM for $190,000 for preferred shares in the company.[11] 25 years later, he was selling more cars than anyone else inWestern Canada.[13]
His company owned 25 car dealerships as of March 2018,Peterbilt truck dealerships,Overwaitea Foods,Save-On-Foods, Quality Foods,Ripley's Believe It or Not!,Guinness World Records, andradio and TV stations in British Columbia,Alberta, Saskatchewan, andManitoba. Pattison entered the media business when he bought Vancouver AM radio station CJOR with five partners. The Broadcast Group was Canada’s largest western-based radio and TV company in 2018, with 43 radio stations and three TV stations. Pattison Agriculture is the second-largest John Deere dealer in Canada, with 19 locations in Saskatchewan and Manitoba.[11]
He also owned theVancouver Blazers of theWorld Hockey Association.
Pattison led the organization ofExpo 86 in Vancouver as thechief executive officer and president of the Expo 86 Corporation. When he was appointed to theOrder of British Columbia, the award noted, "Although others may have had the initial vision for Expo ’86, it was Jimmy Pattison who was the expediter – the one more than anyone else who made it happen. He demanded much of his team but no more than he himself was prepared to give. This he did, almost full-time over a five-year period, without compensation..."[14]
On February 15, 2008, Jim Pattison Group announced the purchase of the GWR organization, the company known for its Guinness World Records franchise. Its annual book, published in more than 100 countries in 37 languages, is the world's best-selling copyrighted book.[15] Pattison, who owns approximately 30% of the shares ofCanfor, was in a dispute over governance with money managerStephen A. Jarislowsky, whose firm owned 18%. Pattison won and ousted CEO Jim Shepherd over Canfor's poor performance and declining share price, replacing him for the interim with Jim Shepard (no relation).[16]
He was involved with the committee for the2010 Vancouver Olympics.[17] Among other honours, Pattison is an Officer of theOrder of Canada[18] and a member of the Order of British Columbia. He was also listed as No. 177 on the 2015Forbes list of the world's richest people.[19] He was also listed then as the richest Canadian.[20]
In the latter part of 2018, Pattison continued to remain active in his business career, conducting comprehensive visits to various Pattison Agriculture farm equipment dealerships in the western region, which involved covering extensive distances by driving a pickup truck for thousands of kilometres. When questioned by a Bloomberg reporter as to whether he ever took a vacation throughout his business career, Pattison expressed his passion and dedication for business and investing by stating, ""Well, I get 365 days. If you like your work, it’s not work."[5]
In September 2020, at 91 years old, Pattison exhibited an ongoing engagement in his business career and was actively pursuing new investment opportunities. At that time, a news item stated that "Jim Pattison Group Inc. had $10.9 billion in revenue and employed 48,000 people".[21]
Imagine Canada rated the Jim Pattison Foundation in 2008 as the eighth largest giver of charitable grants by a private foundation in Canada.[22] That year, Pattison made a $1,000,000 donation as a matching gift for funds raised for theApostolic Church of Pentecost’s creation of a church planting endowment fund.[23]
On April 16, 2009, Jim Pattison announced that Save-On Foods donated $100,000 toCBC Television in order to renthigh-definition television trucks for away games during theVancouver Canucks' 2009 1st roundNHL playoff series against theSt. Louis Blues. Prior to this donation, CBC stated that it would not broadcast high-definition away games in St. Louis due to the cost of renting high-definition equipment during the current tough economic times and major cuts to funding for the CBC by the federal government.[24]
Pattison is a well-known philanthropist, and an article inThe Globe and Mail noted, "He has always given away10% of his income."[6] In July 2013, he donated up to $5 million to Victoria Hospitals Foundation (Victoria, British Columbia), to support its "Building Care Together" campaign to purchase new equipment for the new patient care tower at the Royal Jubilee Hospital. In recognition, the hospital named the ground floor lobby of the patient care tower "The Jim Pattison Atrium and Concourse."[25] In 2011, Pattison contributed $5 million to add his name and to match public donations for a $10 million 100-day fundraising campaign inSurrey, British Columbia for the new Jim Pattison Outpatient Care and Surgery Centre run byFraser Health.[26] Other donations in the past included $20 million Vancouver General Hospital in 1999 and $5 million to the Lions Gate Hospital in 2008.[11]
On March 28, 2017, Pattison donated $75 million to the construction of the newSt. Paul's Hospital in Vancouver, a Canadian record for a private donation to a health care provider.[27] On May 30, 2017, Pattison and the Jim Pattison Foundation announced they were donating $50 million, the largest private donation in Saskatchewan history, to the new Children's Hospital of Saskatchewan in Saskatoon, Saskatchewan which is expected to open in 2019. It was also announced that day the new hospital would be namedJim Pattison Children's Hospital in his honour.[28]
During a March 2018 interview, Pattison made the following comment about his philanthropy. "We’ve got the base of our company – it’s taken us 57 years to build – where we can do some serious things and give serious money away as time goes by. The bigger we get the more money we make, and the more we can give away. We’re just getting into it."[11]
Pattison married Mary Hudson, whom he first met at the Swift Current church camp when both were 13. Hudson was from Moose Jaw. Some 66 years later in 2018, Pattison commented, "The secret [to a successful marriage] is to marry somebody from Saskatchewan. Then you won’t have a problem!"[11][29] The couple has three children.[30][31]
At a Los Angeles auction on November 17, 2016, Pattison purchased (for $4.8 million) theJean Louis dress worn byMarilyn Monroe when she sang "Happy Birthday, Mr. President" to PresidentJohn F. Kennedy at a celebration of his 45th birthday.[32] At the age of 90, in addition to his business endeavours, Pattison remained dedicated to music, finding joy in playing instruments such as the piano, organ, and trumpet.[4] Additionally, he is known to be an avid Yachtsman, and owns theNova Spirit, a 150-foot superyacht valued at approximately $25 million.[33]
Pattison's father was already in the business back in Luseland, Sask., on the day in 1928 that his only son was born...
It was my first summer job and I loved it," says Pattison. "I travelled, I met a lot of people, I played my horn, and I met my future wife. We've been married 61 years. It was a huge experience for me.
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