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"Canada's Warren Buffett" Stephen Jarislowsky dies at 101
Stephen Jarislowsky, the legendary Canadian investor known as "Canada's Warren Buffett," died in Montreal on October 8 at age 101. He built Jarislowsky Fraser from $150 into one of Canada's largest pension fund managers and endowed more than 50 university research chairs across Canada.
Why it matters
Jarislowsky was Canada's most influential value investor and corporate-governance advocate. He started with $100 of his own money in 1955 and built a firm managing roughly $40 billion; his philanthropy reshaped research funding at Canadian universities.
Full report
Born in Berlin on September 9, 1925, Jarislowsky founded Jarislowsky Fraser & Co. in Montreal in 1955 with $100 of his own money and $50 from a partner. He led the firm for more than six decades, stepping down in 2012 with about $40 billion under management; Scotiabank bought the business for $950 million in 2018.
Forbes estimated his fortune at about US$3.9 billion, much of which he gave away. The Jarislowsky Foundation, founded in 1991, established more than 50 endowed chairs at Canadian universities in democracy, governance, environment, health and Canadian art. He was appointed a Companion of the Order of Canada in 2009.
His investing creed was almost boringly simple: buy great businesses, hold for decades, don't let fees eat returns. He wrote "The Investment Zoo" and co-founded the Canadian Coalition for Good Governance in 2002, calling out questionable corporate pay.
His death was announced by his family together with the Jarislowsky Foundation. He is survived by his wife Gail and their children.
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