N. Murray Edwards

Norman Murray Edwards[3] CM (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 1.5 billion (as of March 2019), Edwards was ranked by Forbes as the 32nd wealthiest Canadian and 1511th in the world.[4] Edwards has launched several major Canadian companies, including Canadian Natural Resources Ltd, Magellan Aerospace Corporation and Ensign Energy Services Inc.[5]

N. Murray Edwards
Edwards in 2011
Born (1959-12-10) December 10, 1959[1]
Regina, Saskatchewan, Canada
NationalityCanadian
EducationUniversity of Saskatchewan
University of Toronto
OccupationLawyer
Net worthUS$ 1.5 billion (est.) (2019)[2]
Spouse(s)Lysanne Legare
Children1 son

Personal life

Edwards studied at the University of Saskatchewan, graduating with a Bachelor of Commerce (great distinction), after which he obtained an LL.B from the University of Toronto (honors) in 1983.[6] He would later also receive an honorary Doctor of Laws degree from the University of Saskatchewan and the University of Calgary. In 2013, he received an honorary law degree from the University of Toronto. Through a substantial contribution to the University of Saskatchewan in 2007, the College of Commerce was renamed the N. Murray Edwards School of Business. He was appointed as a member of the Order of Canada in 2013.[6]

Career

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 Magellan Aerospace Corporation. 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.[7] 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.[8] Edwards is Chairman of the Board of Magellan Aerospace Corporation and the majority holder of Magellan Aerospace, owning ~76% of Common Shares.

Edwards was top shareholder and director of Penn West Petroleum Ltd.. He stepped down in 2005 when it became a trust.[5] 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.[5]

In 2018, as CEO of Canadian Natural Resources Limited, Edwards placed seventh out of 100 of the top earners in Calgary with a total compensation of $10,764,001 according to a Global Governance Advisors' survey posted by The Calgary Herald.[9]

Political influence

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.[10] In 2013, he helped organize a $1-million fundraiser in Calgary for B.C. Premier Christy Clark’s re-election bid.[10]

See also

References
  1. "The World's Billionaires: #721 N. Murray Edwards". Forbes. March 3, 2010.
  2. Forbes https://www.forbes.com/profile/n-murray-edwards. Missing or empty |title= (help)
  3. Magellan Aerospace Corporation Board Executive Chairman, Bloomberg LP, retrieved 17 July 2019
  4. Forbes https://www.forbes.com/wealth/billionaires/list?country=223&industry=-1&state=. Missing or empty |title= (help)
  5. Cattaneo, Claudia (13 August 2011), Penn West went east to stoke oil expansion, Financial Post, retrieved 23 December 2014
  6. "Alumnus Murray Edwards named a member of the Order of Canada". University of Toronto Faculty of Law. University of Toronto. Retrieved 8 June 2017.
  7. 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.
  8. Shannon, John. "John Shannon's Power 25: 2018 Edition". Sportsnet. Sportsnet. Retrieved April 23, 2018.
  9. "Top of the heap: Calgary's highest paid executives in 2018" (PDF). Global Governance Advisors via Calgary Herald. Special report on the 2018 executive compensation survey. 2019. Retrieved October 22, 2019.
  10. 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.
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