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Home»World
World

Sad News: Canada’s Wealthiest Man, Billionaire Arthur Irving, Passes Away at 93

May 14, 2024No Comments3 Mins Read
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Arthur L. Irving, the son of Canadian industrialist K.C. Irving, was one of Canada’s richest people, with an estimated net worth of US$6.4 billion at the time of his death. He played a significant role in growing the oil business his father founded, including owning Canada’s largest refinery in New Brunswick and the Whitegate refinery in Ireland. Irving began working at Irving Oil in 1951 and became its president in 1972. He was chairman emeritus of the company at the time of his death, which came as the company’s Saint John refinery underwent a strategic review due to the shift away from fossil fuels prompted by climate change.

Irving’s life was not without its difficulties, including a contentious divorce with his first wife in 1980 and an estrangement from his eldest son. His son, Kenneth, who was expected to be his heir, left the company in 2010 after a falling out. Despite his family troubles, Irving was credited with successfully expanding the company. In the 1980s and ’90s, his business interests were closely tied to those of his brothers, J.K. and Jack, as they managed different segments of the family’s business empire. In late 2009, the three brothers separated their business interests, with Arthur assuming control of the energy business.

Irving Oil described Arthur Irving as a “steadfast champion of Atlantic Canada and its people” and emphasized his unique contributions to the company and the region. Despite his family difficulties, Irving was surrounded by admirers in his later years, with his refinery in the background, symbolizing his legacy. His life story, marked by success and challenges, was chronicled in various biographies and publications, including journalist Jacques Poitras’ book “Irving vs. Irving.” Poitras highlighted a poignant moment in 2013 when Irving stood alone at a news conference, announcing a bid to build a pipeline, with his family torn asunder due to his estrangement from his eldest son.

Forbes Magazine listed Arthur Irving among the top 10 richest Canadians in 2023, recognizing his significant impact on the oil industry and his impressive net worth. Irving’s decision to join the family business rather than continue his education at Acadia University was motivated by the opportunity to learn from his father, whom he considered the best teacher. His leadership at Irving Oil was instrumental in the company’s growth and success, despite facing challenges and setbacks along the way. Irving’s death at the age of 93 marks the end of an era for the Irving family and the energy business he helped build, leaving behind a legacy that will continue to shape the industry for years to come.

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