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Frank Stronach

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Frank Stronach
CM
BERJAYA
Born
Franz Strohsack

(1932-09-06) 6 September 1932 (age 93)
Kleinsemmering, Styria, Austria
OccupationsBusinessman
Racehorse owner/breeder
Politician, Austria and Canada
Criminal charges
indecent assault[1].
Spouse
Elfriede Sallmutter
​
​
(m. 1964; died 2024)​
[2]
ChildrenBelinda, Andrew
AwardsOrder of Canada
(1999)
Thoroughbred horse racing awards:

Frank Stronach CM (born 6 September 1932) is an Austro-Canadian billionaire businessman and politician. He was convicted of indecent assault.[3]

BERJAYA
Frank Stronach, September 2013

He is the founder of Magna International, an international automotive parts company based in Aurora, Ontario, Canada; Granite Real Estate, and the Stronach Group. With an estimated net worth of $C3.06 billion (as of December 2017), Stronach was ranked by Canadian Business as the 31st richest Canadian.[4]

In 2011, he entered Austrian politics, founding the Stronach Institute to campaign for a flat tax[5] and lowering national debt.[5] In 2012, he founded the political party Team Stronach for Austria.

In 2026, Stronach was found guilty of sexual assault and indecent assault in Canada for incidents that happened in the 1970s and 1980s.[6]. A second trial is scheduled for May 2027 in Newmarket, representing multiple charges from six further complainants.[7]

Early life

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Stronach was born Franz Strohsack in Kleinsemmering, Styria, Austria, to working-class parents of Croatian heritage.[8][9] He married Elfriede Sallmutter, a fellow Austrian. She died in Canada on March 25, 2024 at the age of 80.[10] Belinda Stronach, a former MP and CEO of Magna, is their daughter, and Andrew Stronach, who is involved in Adena Springs Farms' Thoroughbred horse breeding.[citation needed] His grandchildren include electronic musician Frank Walker.[citation needed]

Business career

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In 1956, Stronach started his first business, Multimatic Investments Ltd in Toronto. In 1969, his firm acquired its first automotive parts contract and merged with Magna Electronics. In 1973, the company's name was changed from Multimatic Investments Ltd. to Magna International Ltd. He resigned as chairman of the board in May 2011 after approval of a $863-million (U.S.) deal to buy out the multiple voting shares with which he controlled the company. He no longer plays any role in the company.[11]

In 2020, the Stronachs settled a 2018 lawsuit against their daughter Belinda, their grandchildren Nicole and Frank Walker, and Alon Ossip for failure to honour commitments regarding the management of The Stronach Group (TSG)'s management of racing horses and gambling, from which Stronach resigned in 2013 when he ran for office in Austria.[citation needed] As part of the settlement, Stronach and Elfriede will assume full control and ownership of a stallion and breeding business, all farm operations in North America, and all European assets. Belinda Stronach retains full control of The Stronach Group's horse racing, gaming, real estate and related assets.[12]

Other ventures by Stronach over the years include the "As Prime Minister, I Would…" symposium, the Fair Enterprise Institute think tank, the business magazine Vista, Frank's Energy Drink, and the beef ranch operations of Adena Farms.[13][14]

Thoroughbred horse racing

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In 2011, Stronach along with his daughter Belinda Stronach, founded The Stronach Group, a horse racing, entertainment and pari-mutuel wagering technology company. The Stronach Group horse racing industry brands include; Santa Anita Park, "The Great Race Place"; Pimlico Race Course, home of the Preakness Stakes; Gulfstream Park, one of Florida's entertainment destination centers, and home to the $16-million Pegasus World Cup Invitational, the world's richest Thoroughbred horse race; Laurel Park; Golden Gate Fields; Portland Meadows; and Rosecroft Raceway. The Stronach Group is in pari-mutuel technology through its subsidiaries AmTote and Xpressbet and is a distributor of horse racing content to audiences through Monarch Content Management. A settlement to the lawsuit launched by Stronach on October 1, 2018, was announced on August 13, 2020. As part of the settlement, Stronach assumes full control and ownership of a stallion and breeding business, all farm operations in North America, and all European assets while Belinda Stronach retains full control of The Stronach Group's horse racing, gaming, real estate and related assets. Stronach no longer plays a role in The Stronach Group.[12] Among his early successes was his partnership with Nelson Bunker Hunt in the filly Glorious Song who was received the 1980 Sovereign Award for Canadian Horse of the Year.

His horses have won the Queen's Plate in 1994 and 1997, the Belmont Stakes in 1997, and the Preakness Stakes in 2000. His horse Ghostzapper won several major races including the 2004 Breeders' Cup Classic, was voted the Eclipse Award for Horse of the Year, and named the World's Top Ranked Horse for 2004. In Canada, Stronach and/or his Stronach Stables has won the Sovereign Award for Outstanding Owner nine times. In the United States, he earned the Eclipse Award for Outstanding Owner in 1998, 1999, and 2000. In 2000, he won the Eclipse Award for Outstanding Breeder. He subsequently established Adena Springs Farms which owns horse breeding farms in Kentucky, Florida, and Canada and have won the Eclipse Award for Outstanding Breeder in 2004, 2005 and 2006. [citation needed]

Politics

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In the 1988 Canadian federal election, Stronach was the Liberal candidate in York—Simcoe, receiving 35% of the vote to place second to Progressive Conservative winner John E. Cole. In 2011, Stronach entered Austrian politics, proposing the establishment of a new political party: a "Citizens' Alliance" advocating tax, health, and education reform.[15] In November 2011, he called for an 'intellectual revolution' in Austria, suggesting that he would be willing to fund a student-led political party.[16]

Stronach's plans to form a party gained prominence in 2012. He called for a flat tax of 20%, a reduction in bureaucracy by 10% over five years, and a balanced budget.[17] Stronach argued that Austria should stay in the EU, but that the euro was a 'monstrosity'.[18] His program was compared to the Alliance for the Future of Austria (BZÖ); Stronach had admired the BZÖ's leader Josef Bucher as the only politician in Austria that represented economic liberalism.[19] That led to suggestions that Stronach would take over the BZÖ ahead of the 2013 elections so as to give his movement seats in Parliament.[20]

The party, called Team Stronach, was launched in September 2012.[21][22] Four MPs – Gerhard Köfer of the Social Democratic Party, Elisabeth Kaufmann-Bruckberger of the BZÖ and independents Robert Lugar and Erich Tadler agreed to join the party.[23] The endorsement of at least three members of the National Council was required for a party to compete in general elections (alternatively, a quorum of 2,600 signatures in support of the party's candidacy have to be collected).[24][25]

Hurricane Katrina

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On September 6, 2005, Stronach announced that he and Magna International were committing $2 million to start a model community[26] for people displaced by Hurricane Katrina.[27] The Toronto Star reported that "Magna Entertainment Corp.[28] (a gambling and racing business[29] once the world’s largest owner of race tracks)[30] is providing housing for about 260 evacuees from the New Orleans area at a racetrack training facility in Palm Beach County, Florida and will move them to a new community in November. Auto-parts giant Magna International Inc. and MEC are scouting for about 500 to 1,000 acres (2 to 4 km2) in an area of Baton Rouge, Louisiana to set up trailers and infrastructure. We "would like to build a small community where we would try to be sponsors for the next five to seven years", Stronach said in an interview with The Star.[31]

Honours awarded

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In 1999, Stronach was made a Member of the Order of Canada.[32] In 2010, Stronach received the Gold Medal of Honor with Star for Services to the Republic of Austria.[33]. Stronach became a member of the Automotive Hall of Fame in 2018[34] He received the Founders Award from the Fraser Institute in 2011[35], and the International Schumpeter Prize from the Schumpeter Society in 2010[36].

Stronach has received multiple honorary degrees: Honorary Doctor of Business Administration from Laurentian University in 2011[37], Honorary Doctor of Management from Kettering University in 1997[38], Honorary Doctor of Commerce from Saint Mary's University in 1995[39], Honorary Doctor of Laws from Cape Breton University in 1994[40], Honorary Doctor from University of Haifa in 1994[41]. In 2023, University of Toronto Scarborough made Stronach an "Executive in Residence."[42]

Honours revoked

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Following his conviction for sexual assault, multiple organizations revoked Frank Stronach's honours, including the Aurora Sports Hall of Fame[43], Southlake Health's Frank Stronach Cancer Centre was renamed the Magna Cancer Centre[44], the city of Newmarket, Ontario has renamed "Frank Stronach Park", "Veterans Park"[45], Aurora, Ontario has stripped Stronach's name from its Aurora Recreation Complex[46].

Rape and sexual assault charges

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In 2024, Stronach was charged with 13 offenses including rape, indecent assault on a female, eight counts of sexual assault and one of forcible confinement, involving 10 alleged victims.[47][48][49][50] Police allege that the sexual assaults spanned from the 1970s to 2023.[51][52] His counsel Brian Greenspan said that Stronach denied all the accusations in at least 18 pending sexual assault complaints.[53] Stronach also faces a civil suit from Jane Boon, who alleges he sexually assaulted her when she was a teen co-op student working at Magna in 1986.[54] His charges were separated into two trials, one which began February 2026[55] The second trial is scheduled for May 2027 in Newmarket[56].

In early February 2026, the first trial, which had been anticipated to take four weeks, was delayed following allegations by the defense that some of the complainants may have been coached by the Crown.[57][58] The first trial concluded in April 2026, and on June 19, 2026, Stronach was found guilty of indecent assault and sexual assault. Justice Molloy described Stronach's actions as "gross and disgusting conduct." There were no findings that the complainants had been coached[59]. On July 17, 2026, when one of the complainants sought a private, financial settlement from Stronach citing facts at odds with her testimony at trial, Justice Molloy declared a mistrial for that complainant[60].

References

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  1. ↑ "Frank Stronach convicted of sexual assault and indecent assault". Reuters. 19 June 2026. Retrieved 27 July 2026.
  2. ↑ "Elfriede Stronach, wife of Frank Stronach, dies at 80". Daily Racing Form. 31 March 2024. Retrieved 31 October 2024.
  3. ↑ Jones, Ryan Patrick (19 June 2026). "Canadian billionaire Frank Stronach found guilty of sexual assault, indecent assault". Reuters. Retrieved 1 August 2026.
  4. ↑ "Canada's Richest People: Frank Stronach". Canadian Business. Archived from the original on 27 September 2021. Retrieved 18 February 2021.
  5. 1 2 "Dafür stehen wir | Frank Stronach Institut". 15 August 2012. Archived from the original on 15 August 2012. Retrieved 6 July 2024.
  6. ↑ "Horse racing group founder Stronach guilty of sexual assault". ESPN. Associated Press. 19 June 2026. Archived from the original on 20 June 2026. Retrieved 20 June 2026.
  7. ↑ "Frank Stronach's second sexual assault trial in Newmarket postponed to May 2027". CTV News. 22 April 2026. Retrieved 26 July 2026.
  8. ↑ http://webarchive.nationalarchives.gov.uk/20130502205454/http://toronto.jnf.ca/images/FrankStronach_invite%2Dweb.pdf[permanent dead link]
  9. ↑ "Magna Force - DBusiness - January / February 2011 - Detroit, MI". DBusiness.com. June 2009. Retrieved 7 March 2017.
  10. ↑ "Frieda Stronach Matriarch of Adena Springs". canadianthoroughbred.com. 28 March 2024. Retrieved 30 October 2024.
  11. ↑ "Frank Stronach steps down from Magna board chairmanship". The Globe and Mail. 8 November 2012.
  12. 1 2 "Stronach family settles lawsuits, splits fortune between Belinda, Frank - National | Globalnews.ca". Global News. Retrieved 13 September 2021.
  13. ↑ Wells, Jennifer (30 September 1996). "Frank Stronach (Profile)". Maclean's. Retrieved 9 June 2024.
  14. ↑ Willis, Andrew (2 November 2018). "Frank versus Belinda. It's a battle for the Stronach family fortune". The Globe and Mail. Retrieved 9 June 2024.
  15. ↑ "Frank Stronach überlegt Partei-Gründung". Die Presse (in German). 30 June 2011. Retrieved 12 May 2012.
  16. ↑ "Frank Stronach krempelt die Ärmel wieder auf". Die Presse (in German). 18 November 2011. Retrieved 12 May 2012.
  17. ↑ "Stronach will Flat Tax für Österreich". Die Presse (in German). 21 March 2011. Retrieved 12 May 2012.
  18. ↑ "Stronach: Finanzielle Hilfe für etwaige Studentenpartei". Die Presse (in German). 17 November 2011. Retrieved 12 May 2012.
  19. ↑ "Die Stronach-BZÖ-Connection". Die Presse (in German). 30 March 2012. Retrieved 12 May 2012.
  20. ↑ "Frank Stronach, BZÖ-Mandatar in spe". Die Presse (in German). 5 May 2012. Retrieved 12 May 2012.
  21. ↑ Cremer, Andreas (11 August 2012). "Magna founder to launch Austrian party". Reuters. Archived from the original on 6 March 2016. Retrieved 26 August 2012.
  22. ↑ "Frank Stronach launches campaign to lead Austria". cbc.ca. Retrieved 25 October 2012.
  23. ↑ "Stronach-Partei: Gerüchte um vierten Mandatar "falsch"". Die Presse (in German). 26 August 2012. Retrieved 12 May 2012.
  24. ↑ "Antritt gesichert: Stronach holt dritten Mandatar an Bord". Die Presse (in German). 23 August 2012. Retrieved 12 May 2012.
  25. ↑ "Wahlen – Wie kann man bei einer Nationalratswahl kandidieren?" (in German). Austrian Interior Ministry. Retrieved 2 October 2013.
  26. ↑ Whitehall, Geoffrey; Johnson, Cedric (27 September 2011). "Making Citizens in Magnaville". The Neoliberal Deluge: 60–84. doi:10.5749/minnesota/9780816673247.003.0003. ISBN 978-0-8166-7324-7. Retrieved 27 October 2024.{{cite journal}}: CS1 maint: periodical has ISBN (link)
  27. ↑ "Magna houses 275 storm victims in Fla". www.drf.com. Retrieved 27 October 2024.
  28. ↑ "Magna Entertainment Corporation". Magna Entertainment Corporation. Archived from the original on 8 April 2000. Retrieved 27 October 2024.
  29. ↑ "Magna Entertainment seeks bankruptcy protection". CBC News. 5 March 2009. Retrieved 27 October 2024.
  30. ↑ "Full Text of All Articles". www.berkeleydailyplanet.com The Berkeley Daily Planet. Retrieved 27 October 2024. Golden Gate Fields Auction April 3 By Richard Brenneman Wednesday March 18, 2009 - 07:09:00 PM
  31. ↑ "Redirect". Thestar.com Toronto Star. 3 March 2017. Archived from the original on 27 September 2011. Retrieved 7 March 2017.
  32. ↑ "Mr. Frank Stronach | Aurora, Ontario, Canada | Member of the Order of Canada". Governor General of Canada. 15 April 1999. Retrieved 7 May 2024.
  33. ↑ "Frank Stronach bio from the Austrian Parliament". Austrian Parliament. Retrieved 27 July 2026.
  34. ↑ "Automotive Hall of Fame Honoree Frank Stronach". Automotive Hall of Fame. Retrieved 27 July 2026.
  35. ↑ "Fraser Institute Founders Award Recipients". Fraser Institute. Retrieved 27 July 2026.
  36. ↑ "Schumpeter Prize Recipients". Schumpeter Society. Retrieved 27 July 2026.
  37. ↑ "Laurentian University honorary degree recipients". Laurentian University. Retrieved 27 July 2026.
  38. ↑ "Kettering University honorary degree recipients". Kettering University. Retrieved 27 July 2026.
  39. ↑ "Frank Stronach Saint Mary's University Doctor of Commerce]". Saint Mary's University. Retrieved 27 July 2026.
  40. ↑ "Cape Breton University honorary degree recipients". Cape Breton University. Retrieved 27 July 2026.
  41. ↑ "Honorary doctorate recipients Haifa University". University of Haifa. Retrieved 27 July 2026.
  42. ↑ "Frank Stronach is UTS "Executive in Residence"". University of Toronto Scarborough. Retrieved 27 July 2026.
  43. ↑ "Aurora Sports Hall of Fame revokes Frank Stronach's honoured status". Aurora Today. 10 July 2026. Retrieved 26 July 2026.
  44. ↑ "Newmarket's Stronach Cancer Centre now named for Magna after sex assault conviction". Newmarket Era. 13 July 2026. Retrieved 26 July 2026.
  45. ↑ "Newmarket renames Frank Stronach Park following sexual assault convictions". CTV News. 23 June 2026. Retrieved 26 July 2026.
  46. ↑ "Aurora Recreation Complex to remove 'Stronach' from its name in wake of sexual assault conviction". CTV News. 24 June 2026. Retrieved 26 July 2026.
  47. ↑ Gillis, Wendy (28 June 2024). "Frank Stronach charged in sex assaults involving seven new victims, court documents indicate". Toronto Star. Retrieved 28 June 2024.
  48. ↑ "Canadian businessman Frank Stronach charged in sex assault probe". CBC News. 7 June 2024. Retrieved 8 June 2024.
  49. ↑ "Arrest made in Sexual Assault Investigation". Peel Regional Police. Retrieved 8 June 2024.
  50. ↑ "Billionaire Frank Stronach charged with 8 more criminal counts including sexual assault, police say". CBC News. 26 June 2024. Retrieved 27 June 2024.
  51. ↑ "Canadian billionaire Frank Stronach charged with for sexual assault". AP News. 7 June 2024. Retrieved 8 June 2024.
  52. ↑ "Everybody's afraid of Frank'". CBC News.
  53. ↑ "Magna International conducting 'targeted review' of records as more charges laid against founder Frank Stronach". CTV News. 30 October 2024. Retrieved 31 October 2024.
  54. ↑ Lawsuit Alleges Frank Stronach Sexually Assaulted Co-op Student After Company Party
  55. ↑ "Frank Stronach's challenge rejected by Ontario court ahead of Toronto sex assault trial". CBC News. 10 November 2025. Retrieved 22 April 2026.
  56. ↑ "Frank Stronach's second sexual assault trial in Newmarket postponed to May 2027". CTV News. 22 April 2026. Retrieved 26 July 2026.
  57. ↑ Gollom, Mark (8 February 2026). "Start of Frank Stronach's sex assault trial in Toronto stalls as lawyer argues complainants possibly coached". CBC News. Retrieved 8 February 2026.
  58. ↑ Yousif, Nadine (2 February 2026). "Billionaire Frank Stronach faces sexual assault trial in Canada". BBC News. Retrieved 8 February 2026.
  59. ↑ Gollom, Mark (19 June 2026). "Canadian businessman Frank Stronach found guilty of sexual assault, indecent assault". CBC News. Retrieved 26 July 2026.
  60. ↑ "Judge declares mistrial in businessman Frank Stronach's sexual assault conviction". Canadian Press. 17 July 2026. Retrieved 26 July 2026.
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