Stephen Smith
Toronto, Canada
Bachelor of Science in Engineering, Queens University
Canada
finance and investments, Self Made
$1,500,000,000
1605
#1605 Billionaires 2019
Stephen Smith is the founder, chairman and CEO of Canadian mortgage lender First National Financial.Smith launched the company in 1988, just four years after being personally bankrupt, and took it public in 2012.He also owns about half of Canada Guaranty Mortgage Insurance Company and a stake in publicly-traded Canadian bank Equitable Group.In 2018, he bought half of Walmart Canada Bank from Walmart and put up over $110 million to start the private equity fund Peloton. In 2015 he donated $50 million the Queens University, where the business school is named after him.
Smith has passed his love of heli-skiing onto his three adult children, and Smith's wife cooks for the tight-knit family every Sunday night.An electrical engineer by education, Smith programmed code that is still used today by First National's mortgage approval and tracking system, Merlin.In June 2018, Smith broke his hip while biking in Toronto. He got the hip replaced and was back on the bike six weeks later.
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