Magna Cum Laude: How Frank Stronach Became Canada's Best-Paid Man

Ashley Thomson is a full librarian at Laurentian University and co-editor or co-author of nine books, most recently Margaret Atwood: A Reference Guide, 1988-2005.

By Lilley’s account, Martin O’Malley and Don Rumball, both
well-respected journalists, tried but failed to put Frank Stronach’s
story on the record. The major obstacles in both instances were
Stronach’s need for control as well as his unusual predilection for
secrecy. Lilley, an experienced journalist in his own right, has worked
around these impediments, using interviews (almost all “off the
record”), newspaper reports, and public documents, including records
from the Ontario Securities Commission.

In 1957, Stronach, an Austrian immigrant, started Multimatic
Investments Ltd., which by 1973 had morphed into Magna International
Ltd. Building an early reputation for excellent products, combined with
his passion for research, innovation, and employee empowerment, Stronach
created a company that is now the largest auto-parts manufacturer in the
world. However, Stronach was not content to rest on his laurels in auto
parts and a great deal of the fun in this book is watching him veer off
into myriad side interests: “media, politics in three countries,
restaurants, pro soccer in Austria, a tennis-equipment company,
horse-stall and artificial-straw businesses, theme parks, race tracks,
golf courses, luxury airlines, ski reports, real-estate projects, and a
sport academy for Austrian soccer players.”

Naturally not everyone—and especially shareholders—were as
enthusiastic about these diversions as was Stronach, so a good part of
the text describes his battles with others. Because not all of these
fights are yet over, the book’s ending leaves an uncertain taste.
Photographs showing some of the characters involved would have been
helpful.

Lilley might have spent a bit more time than he did on Stronach’s
private side other than emphasizing his ongoing predilection for young
women.

That said, what we are left with is a well-researched good read that
becomes increasingly amusing as the story moves along.