Gerry Schwartz

Early Life and Education

Gerry Schwartz was born in 1941 in Winnipeg, Manitoba, where he attended and graduated from Kelvin High School. He pursued his higher education at the University of Manitoba, earning both a Bachelor of Arts and a Bachelor of Laws degree. During his university years, he became an active member of the Sigma Alpha Mu fraternity. Seeking further business training, Schwartz later attended Harvard Business School, from which he received his Master of Business Administration degree in 1970. This educational foundation in law and advanced business management provided the critical framework for his future ventures in finance and corporate leadership.

Career in Finance and Founding Onex

In the 1970s, Schwartz began his career in finance at the investment bank Bear Stearns in New York. There, he was mentored by Jerome Kohlberg, Jr., a figure who later co-founded the famed private equity firm Kohlberg Kravis Roberts. Schwartz left Bear Stearns by 1977 and returned to Canada, where he started his first major entrepreneurial venture by co-founding CanWest Global Communications alongside Izzy Asper that same year. In 1983, Schwartz founded Onex Corporation, establishing it as a private equity firm focused on acquiring and improving companies. Under his leadership, Onex grew into one of Canada's most significant investment firms, with Schwartz serving as its chief executive officer for four decades until his resignation from that role in May 2023, after which he remained as chairman. Beyond Onex, Schwartz has held influential positions in other major Canadian institutions, including serving as a director of Scotiabank since 1999.

As of 2015, Gerry Schwartz was the highest paid CEO in Canada. In 2021, his net worth was estimated at US$1.5 billion by Forbes magazine, making him one of the wealthiest people in Canada. He founded Onex Corporation in 1983. He resigned as CEO of Onex Corporation in May 2023.

Major Philanthropic Initiatives

Together with his wife, Heather Reisman, Schwartz has directed hundreds of millions of dollars toward charitable causes through the Gerald Schwartz and Heather Reisman Foundation. Their philanthropy is wide-ranging, with significant gifts focused on healthcare, higher education and technological innovation. In December 2013, Mount Sinai Hospital in Toronto announced a $15 million gift from the couple dedicated to reshaping emergency medicine at the facility. Their support for education includes a $5.3 million donation to St. Francis Xavier University in Antigonish, Nova Scotia in late 2018 to create scholarships, bursaries and support recruitment for business students.

Their most substantial single philanthropic commitment was announced in March 2019, when the University of Toronto revealed a $100 million gift from Schwartz and Reisman to build the Schwartz Reisman Innovation Campus. This 750,000 square foot centre is designed to be a hub for technological advancement, particularly in artificial intelligence. The campus will house the Schwartz Reisman Institute for Technology and Society and the Vector Institute for Artificial Intelligence in one tower, while the other will contain labs for research in regenerative medicine, genetics and precision medicine. The couple also co-founded the Heseg Foundation for Lone Soldiers, which provides scholarships, a living wage and career development support to non-Israeli Jews who volunteer for the Israeli Defense Forces and to some Israeli soldiers, distributing millions of dollars in support each year.

Honours and Recognition

Schwartz's contributions to business and philanthropy have been recognized with several high profile honours. In 2005, he was awarded the Ernst & Young Entrepreneur Of The Year Ontario Lifetime Achievement award. The following year, in 2006, he was appointed an Officer of the Order of Canada, one of the country's highest civilian honours. His philanthropic support for education led St. Francis Xavier University to name its business school in his honour. It is called the Gerald Schwartz School of Business. These accolades reflect his standing as a respected leader whose influence extends beyond corporate boardrooms into the broader community and academic institutions across the nation.

Personal Life

Gerry Schwartz married Heather Reisman, the founder and chief executive of Indigo Books and Music, in 1982. Schwartz has two children from a previous marriage and two stepchildren from his marriage to Reisman. The couple are members of Holy Blossom Temple, a Reform synagogue in Toronto, and they own a home in Toronto that has been reported as the city's most expensive private residence, valued at $28 million. Their shared commitment to business, philanthropy and community involvement has made them one of Canada's most prominent power couples, frequently appearing together at major charitable and cultural events.

Key Philanthropic Donations

Gerry Schwartz and his wife Heather Reisman have made several landmark donations. They gave a $15 million gift to Mount Sinai Hospital in December 2013. In March 2019, they gave $100 million to the University of Toronto through their foundation. They are also co-founders of the Heseg Foundation for Lone Soldiers, which supports non-Israeli Jews and some Israelis who serve in the Israeli Defense Forces.

• Mount Sinai Hospital (2013): A $15 million gift to transform emergency medicine services.
• University of Waterloo (2006): A donation to fund an exchange program with the University of Haifa.
• St. Francis Xavier University (2018): $5.3 million for business student scholarships, bursaries and recruitment.
• University of Toronto (2019): $100 million to establish the Schwartz Reisman Innovation Campus.
• Heseg Foundation: Co-founded to provide millions annually in support for lone soldiers in the Israeli Defense Forces.

Their donations have supported healthcare, academia, and the Israeli military community. Their $100 million gift to the University of Toronto is for an innovation centre focused on technology and artificial intelligence. Their foundation also donated $5.3 million to St. Francis Xavier University in 2018 for scholarships and business student recruitment. In 2006, he made a donation to the University of Waterloo for an exchange program with the University of Haifa.

Questions about Gerry Schwartz

What are some of Gerry Schwartz's major philanthropic donations?

Schwartz and his wife have made several large donations. In 2019, they gave $100 million to the University of Toronto to build the Schwartz Reisman Innovation Campus. Other major gifts include $15 million to Mount Sinai Hospital for emergency medicine in 2013 and $5.3 million to St. Francis Xavier University for business scholarships in 2018. They also co-founded the Heseg Foundation, which supports lone soldiers in the Israeli military.

What is Gerry Schwartz's net worth?

According to Forbes magazine, Gerry Schwartz had an estimated net worth of US$1.5 billion as of 2021. This wealth places him among the wealthiest individuals in Canada. He was the highest paid CEO in Canada as of 2015. His financial standing is tied to his role as the founder and chairman of Onex Corporation. This net worth reflects his long and successful career in business and investment.

What company did Gerry Schwartz found?

Gerry Schwartz founded Onex Corporation in 1983. He served as its CEO until his resignation in May 2023, though he remains chairman. Prior to founding Onex, he co-founded CanWest Global Communications with Izzy Asper in 1977 after returning to Canada from the United States. His business career began in the 1970s at Bear Stearns, where he was mentored by Jerome Kohlberg, Jr. Onex Corporation is his primary and most significant business venture.

Who is Gerry Schwartz married to?

Gerry Schwartz is married to Heather Reisman, the chief executive of Indigo Books and Music. They were married in 1982. Schwartz has two children from his first marriage and two stepchildren from his marriage to Reisman. The couple are members of the Reform synagogue, Holy Blossom Temple in Toronto. Together, they own the most expensive house in Toronto, valued at $28 million.

What honours has Gerry Schwartz received?

Gerry Schwartz was made an Officer of the Order of Canada in 2006. In 2005, he received the Ernst & Young Entrepreneur Of The Year Ontario Lifetime Achievement award. The Gerald Schwartz School of Business at St. Francis Xavier University was named in his honour in recognition of his donations. These honours acknowledge his significant contributions to business and philanthropy in Canada. His recognition spans both professional achievement and charitable giving.

Where did Gerry Schwartz go to school?

Gerry Schwartz graduated from Kelvin High School in Winnipeg. He then received his B.A. and LL.B. degrees from the University of Manitoba, where he was an active brother of the Sigma Alpha Mu fraternity. To further his education, he later earned an MBA degree from Harvard University in 1970. His academic background in law and business provided the foundation for his career in finance and corporate leadership. These institutions were key to his early development.

Sources and further reading

• Gerry Schwartz (Wikipedia)
• Gerald W. "Gerry" Schwartz (horatioalger.ca)
• #UofTGrad16: Business legend Gerry Schwartz (utoronto.ca)
• Gerry Schwartz (thecanadianencyclopedia.ca)
• Gerald Schwartz (sinaihealth.ca)

Checked by the Yadude Books desk. Last updated 2026-11-05.