Kenneth Thomson, 2nd Baron Thomson of Fleet
|The Right Honourable
The Lord Thomson of Fleet
September 1, 1923|
North Bay, Ontario, Canada
|Died||June 12, 2006
Toronto, Ontario, Canada
|Occupation||Chairman, Woodbridge Co. Ltd|
|Net worth||$17.9 billion USD (Mar. 2006)|
|Spouse(s)||Nora Marilyn Lavis Thomson|
Kenneth Thomson, 2nd Baron Thomson of Fleet (September 1, 1923 – June 12, 2006), in Canada known as Ken Thomson, was a Canadian businessman and art collector who, at the time of his death, was the richest person in Canada, and the ninth richest person in the world, according to Forbes.com, with assets of approximately US $17.9 billion.
Early life and career
Kenneth Thomson was educated at Upper Canada College in Toronto and at St. John's College of the University of Cambridge in the UK (he received his degree in Economics and Law). During World War II, he served in the Royal Canadian Air Force. Following the war, he completed his education and entered the family business. In 1956, he married Nora Marilyn Lavis, with whom he had three children: David, Peter, and Lynne (now known as Taylor).
On his father's death, Thomson succeeded as 2nd Lord Thomson of Fleet. However, Thomson never used his noble title in Canada and never took up his seat in the House of Lords. In a 1980 interview with Saturday Night magazine he said "In London I'm Lord Thomson, in Toronto I'm Ken. I have two sets of Christmas cards and two sets of stationery. You might say I'm having my cake and eating it too. I'm honouring a promise to my father by being Lord Thomson, and at the same time I can just be Ken."
He also succeeded his father as chair of what was then a media empire made up of extensive newspaper and television holdings. The Thomson media empire added the prestigious Globe and Mail in Toronto to The Times and Sunday Times in Britain and The Jerusalem Post in Israel. Under Thomson, the corporation sold its North Sea oil holdings and sold The Times to Rupert Murdoch's News Corporation and the Jerusalem Post to Conrad Black's Hollinger Inc. The Globe and Mail was combined with BCE's cable and television assets (including CTV and The Sports Network) to form Bell Globemedia, controlled by BCE with Thomson as a minority shareholder. The company then sold all of its community newspapers to become a financial data services giant and one of the world's most powerful information services and academic publishing companies. Today, the company operates primarily in the United States from its headquarters in Stamford, Connecticut. In 2002, The Thomson Corporation was listed on the New York Stock Exchange as "TOC".
According to Forbes Magazine in 2005, the Thomson family is the richest in Canada, and Lord Thomson of Fleet was the fifteenth richest person in the world, with a personal net worth of US $17.9 billion. Between the time of that report and his death, he jumped six positions to ninth with assets of almost $22.6 billion.
Over the past fifty years, Thomson distinguished himself as one of North America's leading art collectors and has been a major benefactor to the Art Gallery of Ontario. In 2002 he paid the highest price ever for a Canadian painting when he purchased Canadian artist Paul Kane's Scene in the Northwest: Portrait of John Henry Lefroy. At a Sotheby's auction that year, Thomson purchased Peter Paul Rubens' painting The Massacre of the Innocents for £49.5 million (CAD $117 million).
In 2002, Lord Thomson of Fleet stepped down as Chair of Thomson Corporation, installing his elder son, David Thomson. He retained his positions as Chairman of The Woodbridge Company, the family's holding company, which owned a controlling share of Thomson Corporation. Following his retirement from active business, he donated to the Art Gallery of Ontario nearly 2,000 art works worth more than US $300 million, representing the finest private art collection in Canada. His gift contained masterpieces by renowned Canadian artists plus those from his collection of European works of art dating from the Middle Ages to the mid-nineteenth century, including Rubens' Massacre of the Innocents.
|Peerage of the United Kingdom|
|Baron Thomson of Fleet
- Thomson.com. Management. Accessed March 23, 2006.
- Forbes. Kenneth Thomson & family. March 9, 2006.
- Martin, Sandra (2006-06-12). "A man of small economies and grand generosities". The Globe and Mail (Toronto: CTVglobemedia). Retrieved 2008-05-08.
- CTV: Thomson family buyer of $117-million painting, July 13, 2002. Has a mention of the Paul Kane painting at the bottom.