N. Murray Edwards

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N. Murray Edwards
N. Murray Edwards.jpg
Edwards in 2011
Born (1959-12-10) December 10, 1959 (age 56)[1]
Regina, Saskatchewan, Canada
Residence London, England
Nationality Canadian
Education University of Saskatchewan
University of Toronto
Net worth US $ 2.2 billion (est.) (2011)[2]
Spouse(s) (ex-wife) Heather Bala, 1 son

N. Murray Edwards (born December 10, 1959) is a Canadian oil sands financier and a co-owner of the Calgary Flames hockey team. With an estimated net worth of $US 2.2 billion (as of March 2011), Edwards was ranked by Forbes as the 14th wealthiest Canadian and 540th in the world.[3] Edwards launched major Canadian companies including Canadian stalwarts Canadian Natural Resources Ltd and Ensign Energy Services Inc.[4]

Background[edit]

Edwards studied at the University of Saskatchewan, graduating with a Bachelor of Commerce (honours), after which he obtained his law degree from the University of Toronto. He would later also receive an honorary Doctor of Laws degree from the University of Saskatchewan. In 2013, he received an honorary law degree from the University of Toronto.

Source of Edwards' Fortune[edit]

Edwards has more at stake in the Canadian oil sands than possibly any other individual. His company, Canadian Natural Resources, has sketched out plans to spend $25 billion to turn the bitumen-bearing sand found in northern Alberta into barrels of crude oil. This media shy lawyer-turned-financier also owns big stakes in Ensign Energy, Canada's second biggest oil services company, and Penn West, one of Canada's biggest energy trusts. In the Calgary Herald’s 2015 executive compensation survey, Edwards’ 2014 earnings as chairman of Calgary-based Canadian Natural Resources Ltd. were rated fourth highest of the city’s 100 largest publicly traded companies at $12.7 million. He also earned almost $2 million as chairman of Ensign Energy Services Inc. Much of his compensation from both companies was in the form of stock options. [5] He owns Resorts of the Canadian Rockies, which owns Fernie Alpine Resort, Kimberley Alpine Resort, Nakiska, Stoneham Mountain Resort, Mont-Sainte-Anne, and Kicking Horse Resort. He owns shares of the Calgary Flames hockey team. He owns over 30% of a management and holding company, Jovian Capital Corp.[6] Edwards is Chairman of the Board of Magellan Aerospace Corporation and the majority holder of Magellan Aerospace, owning ~76% of Common Shares.

Penn West[edit]

Edwards was top shareholder and director of Penn West Petroleum Ltd.. He stepped down in 2005 when it became a trust.[4] In 1992 Edwards hired Bill Andrew to take over Penn West, which at that time, was only a "distressed micro-cap with a staff of six, producing 500 barrels a day." Since then Penn West became one of Canada's largest oil companies.[4]

Political influence[edit]

Edwards is linked to six corporations that have donated a total of $436,227 in campaign contributions to the B.C. Liberal Party since 2005, including $153,480 from oil company Canadian Natural Resources, which he chairs, as well as $131,390 from Imperial Metals, where he is the controlling shareholder and which owns the Mount Polley gold mine in British Columbia, amongst others.[7] In 2013 he helped organize a $1-million fundraiser in Calgary for B.C. Premier Christy Clark’s re-election bid.[7]

Edwards School of Business - University of Saskatchewan[edit]

Through a substantial contribution to the University of Saskatchewan in 2007, the College of Commerce was renamed the N. Murray Edwards School of Business.

See also[edit]

References[edit]

  1. ^ "The World's Billionaires: #721 N. Murray Edwards". Forbes. March 3, 2010. 
  2. ^ Forbes http://www.forbes.com/profile/n-murray-edwards.  Missing or empty |title= (help)
  3. ^ Forbes http://www.forbes.com/wealth/billionaires/list?country=223&industry=-1&state=.  Missing or empty |title= (help)
  4. ^ a b c Cattaneo, Claudia (13 August 2011), Penn West went east to stoke oil expansion, Financial Post, retrieved 23 December 2014 
  5. ^ Healing, Dan (March 24, 2016). "Murray Edwards, one of Canada's wealthiest people is changing his residency from Calgary to London". Calgary Herald. Retrieved November 9, 2016. 
  6. ^ http://www.canadianbusiness.com/markets/headline_news/article.jsp?content=b121726A
  7. ^ a b Kelly Sinoski (August 12, 2014). "Major Imperial Metals shareholder held private fundraiser for Clark's re-election bid". Vancouver Sun. Postmedia Network Inc. Retrieved 26 November 2014. 

External links[edit]