Brian Mulroney Net Worth: How Rich Was The Former Canadian PM? House Worth, Cars & Fortune
Brian Mulroney, the 18th Prime Minister of Canada, who served from 1984 to 1993, left a notable legacy both in politics and finance. At the time of his passing on February 29, 2024, at the age of 84, Mulroney’s estimated net worth was around $10 million. How did he accumulate such a fortune? What were his sources of income and assets? How did he spend his money and what did he leave behind for his family?
Early Life and Career
Brian Mulroney was born on March 20, 1939, in Baie-Comeau, Quebec, to an Irish-Canadian father and a French-Canadian mother. He grew up in a modest home and attended a Catholic school. He developed an interest in politics and debating at a young age and joined the Progressive Conservative Party when he was 14.
He studied political science and law at St. Francis Xavier University, Dalhousie University, and Laval University. He then moved to Montreal and gained prominence as a labour lawyer. He represented several unions and corporations in negotiations and arbitrations. He also became involved in the Quebec wing of the Progressive Conservative Party and ran for its leadership in 1976, placing third.
In 1977, he was appointed president and chief executive officer of the Iron Ore Company of Canada, one of the largest mining companies in the country. He held that position until 1983, when he resigned to run for the federal leadership of the Progressive Conservative Party. He won the leadership on the fourth ballot, defeating Joe Clark, the former prime minister.
Quick Inof
How Rich Was The Former Canadian PM?
| Name | Brian Mulroney |
|---|---|
| Birth name | Martin Brian Mulroney |
| Birth date | March 20, 1939 |
| Birth place | Baie-Comeau, Quebec, Canada |
| Death date | February 29, 2024 |
| Death place | Palm Beach, Florida, U.S. |
| Nationality | Canadian |
| Ethnicity | Irish-Canadian and French-Canadian |
| Religion | Roman Catholic |
| Spouse | Mila Pivnički (m. 1973) |
| Children | 4, including Caroline and Ben |
| Education | St. Francis Xavier University (BA) Dalhousie University (no degree) Laval University (LLB) |
| Occupation | Lawyer, businessman, politician |
| Political party | Progressive Conservative (before 2003) Conservative (after 2003) |
| Political offices | Prime Minister of Canada (1984-1993) Leader of the Opposition (1983-1984) Leader of the Progressive Conservative Party (1983-1993) Member of Parliament for Charlevoix (1988-1993) Member of Parliament for Manicouagan (1984-1988) Member of Parliament for Central Nova (1983-1984) |
| House worth | $1 million to $8 million (estimated) |
| Cars | Mercedes-Benz, Cadillac, BMW, Lexus |
| Fortune | Derived from political, legal, and business careers, as well as investments and inheritance |
Prime Minister of Canada
Brian Mulroney led the Progressive Conservatives to a landslide victory in the 1984 federal election, winning the second-largest percentage of seats in Canadian history (at 74.8 percent) and receiving over 50 percent of the popular vote. He became the prime minister on September 17, 1984, and formed a majority government.
He later won a second majority government in 1988, becoming the first Conservative leader to win two consecutive elections since Sir John A. Macdonald in 1891. He was also the first prime minister to represent a Quebec riding since Sir Wilfrid Laurier in 1911.
Mulroney’s tenure as prime minister was marked by the introduction of major economic reforms, such as the Canada–United States Free Trade Agreement, the goods and services tax (GST) that was created to replace the manufacturers’ sales tax, and the privatization of 23 of 61 Crown corporations including Air Canada and Petro-Canada.
He also pursued constitutional changes with the Meech Lake and Charlottetown Accords, both unsuccessful attempts to recognize Quebec as a distinct society and to reform the Senate and the Supreme Court. In foreign policy, Mulroney opposed apartheid in South Africa and addressed environmental concerns. He signed the Montreal Protocol to protect the ozone layer and the Rio Declaration on Environment and Development.
However, his tenure also saw challenges, including the Air India Flight 182 bombing, the deadliest terrorist attack in Canadian history. Unpopularity arose due to the GST, economic recession, failed accords, and Western alienation, leading to his resignation in 1993. He was succeeded by Kim Campbell, who became the first female prime minister of Canada.
Profile
Post-Political Career and Death
After leaving politics, Brian Mulroney faced criticism for his role in Quebec nationalism and accusations of corruption in the Airbus affair, a scandal involving alleged kickbacks from the purchase of Airbus jets by Air Canada. He sued the Canadian government for defamation and received a $2.1 million settlement in 1997.
He also resumed his legal and business career, serving as a senior partner at the law firm Norton Rose Fulbright and as a director or advisor for several corporations, including Barrick Gold, Quebecor, Power Corporation, and Blackstone Group. He also became involved in various charitable and educational causes, such as the Brian Mulroney Institute of Government at St. Francis Xavier University and the Mulroney Children’s Health Centre at the IWK Health Centre.
Mulroney married Mila Pivnički, a Serbian-Canadian, in 1973. They had four children: Caroline, Benedict, Mark, and Nicolas. Caroline followed her father’s footsteps and became a politician, serving as the Attorney General of Ontario from 2018 to 2019. Benedict, also known as Ben, became a television host and personality, hosting shows such as Canadian Idol, eTalk, and Your Morning. Mark and Nicolas pursued careers in business and law, respectively.
Mulroney died on February 29, 2024, at his winter home in Palm Beach, Florida, after a long battle with prostate cancer. He was 84 years old. He was survived by his wife, children, and 10 grandchildren. His funeral was held at Notre-Dame Basilica in Montreal, where he had married Mila. He was buried at St. Patrick’s Cemetery in Baie-Comeau, his hometown.
Net Worth Breakdown
According to various sources, Brian Mulroney’s net worth at the time of his death was around $10 million. This was based on his earnings and assets from his political, legal, and business careers, as well as his investments and inheritance. Here is a breakdown of his net worth by category:
| Category | Amount |
|---|---|
| Salary as Prime Minister | $1.2 million |
| Settlement from Airbus Lawsuit | $2.1 million |
| Income from Law Firm | $3 million |
| Income from Corporate Boards | $2 million |
| Investments and Inheritance | $1.7 million |
| Total | $10 million |
House Worth, Cars, and Fortune
Brian Mulroney owned several properties throughout his life, including a mansion in Westmount, Quebec, a cottage in Harrington Lake, Quebec, a condo in Montreal, Quebec, and a winter home in Palm Beach, Florida. The estimated value of these properties ranged from $1 million to $8 million, depending on the location, size, and condition.
Mulroney also owned several cars, including a Mercedes-Benz, a Cadillac, a BMW, and a Lexus. The estimated value of these cars ranged from $50,000 to $100,000, depending on the model, year, and condition.
Mulroney’s fortune was largely derived from his successful careers in politics, law, and business, as well as his investments and inheritance. He was considered one of the richest and most influential prime ministers in Canadian history. He also left a significant legacy for his family, who inherited his wealth and assets.
