jimmy pattison yacht

How Canadian billionaire Jim Pattison came around to believe in climate change

What he is and isn't doing to reduce environmental impacts from his massive conglomerate.

Social Sharing

Our planet is changing. So is our journalism. This story is part of a CBC News initiative entitled Our Changing Planet to show and explain the effects of climate change and what is being done about it.

On this Wednesday morning, Jim Pattison is in good spirits.

The majority of his business lines are booming, from groceries and lumber to automotive sales and leasing. Only a few of his companies are struggling under the weight of the pandemic. It's an empire that includes radio and TV stations as well as billboards in airports, train stations and transit locations.

Throughout his corporate office are memorabilia and photos collected over his career. The collection is a who's who of prominent figures, including Pattison in the Oval Office with Ronald Reagan and Margaret Thatcher, to hanging out with Oprah Winfrey, and being carried in the arms of Shaquille O'Neal.

While his business career has spanned six decades, it's only in recent years that Pattison has embraced climate change. Back in 1989, environmentalist David Suzuki spoke to Pattison's company about climate change during a meeting in Sidney, B.C.

Have questions about COP26 or climate science, policy or politics? Email us: [email protected] . Your input helps inform our coverage.

Most managers, including Pattison, disregarded the message as off base and out of touch, except for a few young people in the room who were eager to meet Suzuki.

"Bottom line is — he turned out to be very right," said Pattison.

It was only when former U.S. vice-president Al Gore spoke to management about 10 years ago that Pattison began to acknowledge the severity of the issue and its wide-ranging impacts. Gore was invited back and spoke to the company for a second time.

These days, climate change comes up in every meeting, said Pattison, since just about every business is impacted by it in one way or another.

The corporate empire began in 1961 with Pattison's first car dealership in Vancouver. The growth into many other industries and product lines has been fuelled by acquisition.

The company prioritizes certain factors like market share and long-term growth when evaluating a potential target, although climate considerations have risen to the top.

"When we're talking about buying a company today, the first thing we're looking at [is] where does it fit into the environmental issues side of things," he said.

Earlier this month, Pattison celebrated his 93rd birthday while driving around Saskatchewan in a pickup truck visiting various farm equipment dealerships he owns.

He recently returned from Sweden, where his company's forestry division does business.

His own office overlooks the Vancouver harbour and the cauldron used for the 2010 Olympics. It's where he reads three physical newspapers a day, checks stock prices on a terminal, and spends much of his time talking on his desk phone.

While he sees climate change as a priority, his company is still involved in fossil fuels, including the emissions-intensive coal business.

Westshore Terminal Ltd., boasts being the busiest coal facility in all of North America. The Vancouver port facility exports both thermal coal for power plants and metallurgical coal, used in steel-making. The plan, Pattison said, is to exit the thermal coal business within the next 10 years.

"From our company's point of view, it'll be less than that," he said.

On the eve of the UN climate conference in Glasgow, there are calls for the world to finally shake its addiction to thermal coal.

The Conference of Parties (COP), as it's known, meets every year and is the global decision-making body set up in the early 1990s to implement the United Nations Framework Convention on Climate Change and subsequent climate agreements.

The burning of coal represents one of the biggest single obstacles to meeting the Paris Agreement goal of limiting warming to 1.5 C.

COP26 president Alok Sharma has urged world leaders to "consign coal to history."

Westshore Terminal will soon start transitioning some of the facility to handle potash.

"We have to honour our contracts to ship coal, and certainly our customers, we have to look after them. By the same token, the industry has got to transition to things that are friendly to the environment. But it doesn't happen like that," said Pattison, snapping his fingers.

"We got to take it one step at a time, as quickly as we possibly can."

WATCH | When Jim Pattison began to take climate change seriously:

The meeting with a U.S. vice-president influenced Canadian billionaire Jim Pattison on climate change

Pattison said many decisions are made at the company and in his personal life to reduce impacts on the environment, although some luxuries remain, he admits, since "we use the yacht and [private] plane for business, when we need it."

While his business empire continues to expand, his core automotive business is undergoing a revolution of sorts, as manufacturers produce more zero-emission vehicles every year.

Pattison has been impressed after driving both electric and hydrogen vehicles. Still, even someone with so much experience in the sector struggles to predict the speed of the evolution away from gasoline and diesel.

"Definitely, it's coming," he said. "It's just how fast can we transition? We have to do it over time."

ABOUT THE AUTHOR

Business reporter

Kyle Bakx is a Calgary-based journalist with the network business unit at CBC News. He files stories from across the country and internationally for web, radio, TV and social media platforms. You can email story ideas to [email protected].

More by Kyle Bakx
Follow Kyle Bakx on Twitter

James A. “Jimmy” Pattison (1928-

Year Born: 1928

Pattison, James A. “Jimmy” (1928- )

From life’s simple beginnings in Luseland, Saskatchewan, west of Saskatoon, Jim Pattison moved to Vancouver in 1935. He became a self-made billionaire after initially buying a Vancouver car dealership in May 1961 with a $40,000 loan secured by his home and life insurance policy. As Chairman, CEO and sole owner, he built the Jim Pattison Group into the third largest privately held company in Canada, with 26,000 employees, annual sales of over $5 billion and assets totaling more than $3 billion, operating in such industries as food services, packaging, distribution, communications, entertainment, and transportation; and with investments in Canada, the U.S., Mexico, Europe, Asia and Australia.

In 1985 Jim Pattison acquired Ripley’s Believe It or Not!, a chain of for-profit museums. In 1995 he purchased Frank Sinatra’s Palm Springs, California home for US $4.3 million, preserving the estate in great detail, including the replacement of art and furniture that left when Sinatra did. The home is a corporate retreat along with his white-carpeted yacht, Nova Spirit, which is used to ferry visiting executives on harbour cruises along the West Vancouver waterfront.

His venture into broadcasting began with the purchase of CJOR Vancouver from the Chandler family in 1965. In 2003, The Jim Pattison Broadcast Group, based in Kamloops B.C., owned three television stations and 19 radio stations in British Columbia and Alberta.

CJOR, his first broadcast acquisition, was a talk station, which subsequently changed to classic rock CHRX, to Christian music as CKBD The Bridge and then to its current very successful adult favourites format, identifying as AM 600. While Chairman of the EXPO ’86 World’s Fair, he started CJJR-FM Vancouver as a country station, with the original format continuing to this day.

The stations of the Jim Pattison Broadcast Group made significant contributions to their various communities, sponsoring such initiatives as Relay for a Friend, Basics for Babies, the United Way, and the Hospital Foundation’s New Century Campaign, earning a reputation for leadership through public service.

Jim Pattison was appointed to the Order of Canada in 1987 and to the Order of British Columbia in 1990. In 1992, he received the Governor General’s Commemorative Medal for the 125th Anniversary of Canada’s Confederation. He was inducted into the Canadian Business Hall of Fame in 1996 and is one of the eight inaugural laureates of the Canadian Professional Sales Association Hall of Fame.

On October 10, 2002 , Jim Pattison was awarded the Canadian Association of Broadcasters (CAB) Gold Ribbon for Broadcast Excellence.

In 2008, Jim’s Pattison Group acquired GWR, the company that operated the Guinness World Records franchise.

On March 28th 2017, Jim Pattison made history by donating the sum of $75,000,000 to the St. Paul’s Hospital Foundation in Vancouver, the largest donation in Canadian history by a private citizen to a single medical facility. Pattison gave the $75 million to build the Jim Pattison Medical Centre, an 18.4-acre health campus on False Creek Flats that would serve as the home of the new St. Paul’s Hospital and several other facilities.

For sale: The unremarkable yellow house behind billionaire Jimmy Pattison’s empire

The home that helped the self-made tycoon get his start in business can be yours for $1. But to Pattison, it's worth so much more

You can save this article by registering for free here . Or sign-in if you have an account.

Article content

There are many things to know about billionaire Jimmy Pattison . For example, he’s now 94 and still drives a pickup truck to work five days a week. Another intriguing tidbit is that he drives that rig from his Vancouver home all the way to Saskatchewan at least once a year to check on the various businesses he owns there, including Pattison Agriculture, a farm equipment dealer with multiple stores headquartered in Swift Current.

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, Victoria Wells and others.
Daily content from Financial Times, the world's leading global business publication.
Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
Daily puzzles, including the New York Times Crossword.

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.
Share your thoughts and join the conversation in the comments.
Enjoy additional articles per month.
Get email updates from your favourite authors.

Sign In or Create an Account

For sale: the unremarkable yellow house behind billionaire jimmy pattison’s empire back to video.

Pattison enjoys meeting with employees there, and checking up on things, which is key since the thought of not checking up on things, or perhaps slowing down a step as he ticks near life’s century mark, has never occurred to the self-made tycoon, who struck out on his own in business in 1961 without any “money” to his name.

Pattison’s wife Mary was equally broke during the couple’s formative days. But what the Saskatchewanian transplants to the West Coast did possess, in addition to young children, was a yellow, four-bedroom, two-bathroom, beachfront home at 1448 Argyle Ave. in West Vancouver. To the best of Pattison’s recollection, he paid $16,000 for the unremarkable house in 1955.

“I used the equity we had in the house to get my start in business,” he said from his Vancouver office.

That house is currently up for sale for $1, with the catch being you have to move it to make way for a park. But to Pattison, it’s worth so much more.

He was in his 20s and working as a used car salesman when he bought it, and could the kid from Saskatchewan ever talk. He had the gift of the gab and for closing deals, something he brought to a meeting with a Royal Bank of Canada employee that concluded with a $40,000 loan, all thanks to the yellow house.

“It was a great house, right on the water, with great neighbours,” he said. “The tides would come in, and so we built a cement wall to protect it.”

Pattison used the loan to open a Pontiac dealership. More dealerships followed, and within a few decades, the guy who started with nothing but a house was selling more cars than anybody in Western Canada, and well on his way to becoming a billionaire several times over.

Today, he has a hand in much more than just automobiles. He’s in advertising, forest products, media, seafood, grocery stores, commercial real estate, an ocean terminal and even owns the Guinness World Records brand.

Pattison brings representatives from all his various enterprises to Vancouver for an annual general meeting, where the head of each business unit pitches their plan for the year ahead. The owner and the other attendees hear them out, and fire questions at them.

“We are very busy,” he said.

All that activity perhaps explains why Pattison never got around to selling the house at the heart of his entrepreneurial origin story, even after he, Mary and the kids upsized to a much larger West Vancouver home. That move allowed his parents to take up residence in the old waterfront place. After his folks passed away, the captain of his 150-foot yacht, called the Nova Star, lived there.

That is just about where things stood until late December 2022, when Mark Sager, Mayor of the District of West Vancouver, invited Pattison to dinner. Historically, Vancouver and, lately, the district of West Vancouver had been attempting to buy up 32 beachfront properties in the Ambleside neighbourhood to convert the area into parkland.

The process kicked off in the 1970s and had come down to two final holdout homes. Pattison just so happened to own one of them, so the mayor gave the billionaire a call.

“I have known Jimmy my entire life,” Sager said. “Literally, he was friends with my dad. He started out selling cars with my father-in-law. He really didn’t want to sell the house, but I said, ‘Jimmy, it is time.’”

And it turned out it was.

The district engineered what amounted to a $5.175-million land swap for 1448 Argyle Ave. in January. The district paid Pattison said amount, while Jim Pattison Industries Ltd. gave a similar amount to the district for two non-beachfront pieces of land that had been donated by a private citizen.

Theories abound as to why Pattison held onto the yellow house for all those years, and the favourite among them was that he was emotionally attached to it. An alternate theory is that he is a whip-smart businessperson who knows a good piece of real estate when he sees one. Now, his old place is back up for sale — for a dollar.

“We are not trying to make any money out of it; we just don’t want the house to go to waste,” Sager said. “We’ve already got one bid from a company. I am hoping that somebody is able to lift the house, take it away and reuse it.”

The mayor shares an illuminating story about Pattison from his pre-billionaire days. His parents, Hank and Shirley, owned Sager’s Maple Shop, a furniture store in Ambleside. Pattison and his wife went there looking for items to furnish their yellow house. Hank loaded the selected pieces in his truck for delivery and was greeted at the house by Mary, who upon learning of the actual prices, politely observed, “Hank, we can’t afford any of this.”

But Hank knew Pattison was as good as his word, and the word was he would pay him back. The delivery was completed; the bill eventually settled.

We are not trying to make any money out of it; we just don’t want the house to go to waste Mark Sager, West Vancouver mayor

“It is kind of a cute story, eh?” Sager said.

It is also a telling anecdote; a good reminder that we all start out someplace, even billionaires, and that Pattison did not start at the top, but in a yellow house by a beach. Now he has an office on the 18th floor of an office tower in downtown Vancouver. On a clear day he can look across the water and see his current home.

He previously owned the place next door to it as well, and got involved in the heavy lifting when he and Mary moved there, lugging some of that classic, mid-20th century, maple-wood, Canadian furniture Hank Sager sold to him on faith to its new address.

“We never paid for any movers,” he said.

Pattison isn’t entirely sure what to make of the list price of his old place on Argyle Ave. Were he interested in buying it back for a dollar, and he isn’t, he would probably try to find a spot for it next to where he lives now.

He definitely has enough resources at his disposal to do so, unlike the old days and unlike a lot of Canadians who lay awake at night worrying about the housing market .

Home prices, mortgage rate hikes, looming recessions, real estate bubbles — or not — and affordable housing shortages are on people’s minds. But Pattison isn’t one to overly fret on the overall state of housing or the economy.

Who is Jim Pattison? Empire builder and billionaire

How david suzuki changed jim pattison’s mind on climate change, billionaire stephen smith isn't slowing down.

“I think the economy is going to be OK,” he said. “That doesn’t mean there won’t be fluctuations — we always go in cycles. But with immigration, and with new people coming in, I think we’re going to be OK.”

His view of Vancouver real estate would be best summarized as: it is tough to beat a picturesque city on the Pacific Ocean with a mountain backdrop.

“Where could you find better real estate?” he said.

It all depends on the person’s budget and personal taste, but should an unremarkable yellow house that needs a new address and a little TLC strike your fancy, inquiries are welcome. The deadline for submissions is June 28.

The bidding starts at a dollar.

• Email: [email protected] | Twitter: oconnorwrites

Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.

This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here . By continuing to use our site, you agree to our Terms of Service and Privacy Policy .

You've reached the 20 article limit.

You can manage saved articles in your account.

and save up to 100 articles!

Looks like you've reached your saved article limit!

You can manage your saved articles in your account and clicking the X located at the bottom right of the article.

Jim Pattison, nicknamed ‘Canada’s Warren Buffett,’ drives his own pickup truck

Canada's third-richest man is 90, but not ready to take it easy at the Vancouver headquarters of his empire. Instead, he's criss-crossing Alberta and Manitoba to check on his latest venture.

Jim Pattison roars through rural Saskatchewan in his silver pickup truck, barreling down the prairie road that runs arrow-straight to the horizon. Tossed into the back seat is a sleeping bag and crimson pillow — the unlikely berth for Canada’s self-made billionaire when he can’t find a motel.

Observing the speed limit appears optional, using the turn signal an afterthought. Not that there’s much in the way of obstacles — only shimmering fields of wheat stretching across a terrain so flat that if you lost your dog, as the saying goes, you could watch it run away for three days.

It’s here in Canada’s vast breadbasket that Pattison was born and where, at age 90, he’s overseeing one of the newest arms of his $7.4 billion empire: Pattison Agriculture, a string of John Deere equipment dealerships serving 21 million acres of farmland.

“We’re seeing more opportunities than we ever have,” says Pattison, steering confidently, his diminutive frame overwhelmed by the cavernous, black leather seats of his Ram 1500 Laramie truck. “There are still lots of opportunities with all the changes going on in the world.”

Most Read Business Stories

Seattle's government surplus is a cut-rate gold mine for resellers VIEW
Bruce Nordstrom, former chair of the Seattle-based retailer, dies at 90 VIEW
Smartphones can now last 7 years. Here’s how to keep them working
We now know the price Russell Wilson got for his Bellevue mansion VIEW
For Boeing MAX crash victim's mom, years of despair, and then, last week, hope

The road trip offers a rare glimpse of the intensely private Pattison, Canada’s third-richest man, who created his iconic business group in seeming defiance of modern empire-building. He eschews emails, carries a cell phone but barely checks it, and can count on one hand the number of times his group has used an investment bank in recent memory.

Pattison is often dubbed Canada’s Warren Buffett — a trope that underscores how relatively unknown he remains outside Canada despite a conglomerate that operates in 85 countries across a dizzying array of industries: supermarkets, lumber, fisheries, disposable packaging for KFC, billboards across Canada and ownership of the No. 1 copyrighted best-seller of all time, the “Guinness World Records.” Believe it or not, he even owns the Ripley Entertainment empire.

“Back in Omaha, I’m known as the Jim Pattison of the United States,” Buffett quipped this month when he surprised Pattison onstage in Toronto as the Canadian billionaire was inducted into the country’s Walk of Fame. Pattison dismisses the comparison. “Warren Buffett is in a class all by himself,” he insists.

Pattison has driven 1,000 miles from the Jim Pattison Group headquarters in Vancouver, across the towering Canadian Rockies to the prairies where he’s acquired four farm equipment companies to create Pattison Agriculture. He likes to drop in unannounced on his holdings, including his supermarkets and dealerships, but word quickly gets around.

“You’re the man we’ve all been waiting for,” says the receptionist at the dealership in Moosomin, Saskatchewan (population 3,100). “You got a call, did ya?” he says with a grin as he shuffles into the shop, helping himself to popcorn as he quizzes employees.

He listens intently as they share their pain points — the dearth of mechanics, narrowing margins on new equipment sales, and the intolerable noise in the cab of a new tractor that has farmers complaining. He occasionally pulls out a pad and an array of colored pens but mostly relies on his still razor-sharp memory.

Pattison’s rags-to-riches story recalls a different era. Born in Luseland, Saskatchewan, during the Great Depression, he wore clothes stitched together from the castoffs of other children because money was so tight. The family moved out west when he was 6, settling in Vancouver’s gritty east side. In the summers he’d return to the family homestead in Saskatchewan, where the land was still plowed by horses. A natural salesman, he was touting seeds door-to-door at age 7 and within a few years was trouncing grown men in a competition to sell the most subscriptions of the Saturday Evening Post.

His path to fortune began with a Pontiac Buick dealership in 1961. He bought it with a Royal Bank of Canada loan after persuading the local manager to exceed the branch’s lending limit fivefold. He keeps the yellowing, handwritten financial statements from that first year in a clear plastic folder.

Pattison says his favorite job is still being a used-car salesman. “If I had to, I could always go back.” He parlayed that into a global business empire over the next five decades, completing hundreds of acquisitions to create Canada’s second-largest private company.

Pattison’s folksy approach belies the tectonic shifts facing some of his businesses. Magazines in their heyday were his best business of all, he says, but people aren’t reading print anymore — the group agreed to sell its U.S. magazine distribution business last month. His car dealerships have seen ride-sharing and autonomous driving threaten to accelerate the potential demise of vehicle ownership.

One of his biggest stakes in an outside company is Westshore Terminals Investment, North America’s biggest coal export facility, in Vancouver — a cash cow with a shrinking life span in an era of tightening emission standards. His biggest public holding is a controlling stake in Canfor, the lumber company that has plunged about 35 percent this year as the U.S. housing market slows.

“Some businesses — we’re exposed like heck,” he says. “But we make the best of what we got. This is part of why I’ve got a job.”

Behind that stodgy image are businesses navigating technological disruption.

The Pattison Agriculture dealership in Yorkton is a newly renovated hub in a region of 60,000-acre farms, some bigger than Lichtenstein. Most of the equipment inside costs half a million dollars each; some customers will drop as much as $29 million a year in purchases.

“See what it costs to be a farmer these days?” Pattison asks as he walks around the warehouse, his 5-foot-6-inch frame dwarfed by the tires on some of the machines. “They’ll be less and less small farms. What’s happening is consolidation, consolidation, consolidation.”

Historically, he’s kept the existing management in place after takeovers, and he gives his deputies a long leash. “He trusts people to do their job,” says his son. The organizational hierarchy is as flat as the surrounding prairies.

For a company with 45,000 employees, it’s still run a bit like a startup. To this day, the corporate headquarters on the 18th floor overlooking Vancouver Harbour and Stanley Park doesn’t have a human resources department. The most important hiring decisions over the years have been made by Pattison and Maureen Chant, his executive assistant of more than 50 years.

Chant may have the most understated job title in corporate Canada. With her shock of snow-white hair and round face, she looks more like a kindly grandmother than the invisible hand that’s kept Pattison and his incongruous empire running.

Chant advises the group’s nearly 30 business divisions and has influenced who runs them. She oversees Pattison’s $25 million, 150-foot yacht, the “Nova Spirit,” which has hosted everyone from Princess Diana to Oprah Winfrey. She also looks after his private jets, his Vancouver office condo and a Palm Springs property (previously owned by Frank Sinatra) where Pattison gathers his top lieutenants once a year. For most of her career, Chant has worked seven days a week.

Asked if he’d ever considered giving Chant, 79, a more prominent title, Pattison seems surprised-it’s never occurred to him, he says. “She’s been a major influence,” he says. “She can retire anytime she wants, but she works because hopefully she likes it.”

Asked whether he himself ever takes a vacation, Pattison says, “Well, I get 365 days… If you like your work, it’s not work.”

Jim Pattison

Early days : “Most of the time, I didn’t have the money to buy anything that was any good, so I had to buy stuff that nobody wanted.”

Jim Pattison Group : With 45,000 employees, it’s based in Vancouver B.C. and ranks as Canada’s second-largest private company. Includes car dealerships, supermarkets, farm-equipment dealerships and Ripley Entertainment. Board members include the CEO of Albertsons, Robert Miller and Blake Nordstrom. (Update: Blake Nordstrom died Jan. 2, 2019 , after this story first published.)

Your Profile
Your Subscriptions
Support Local News
Payment History
Sign up for Daily Headlines
Economy, Law & Politics

Expensive tastes: Business owners helping put wind in B.C.’s luxury boat sales

Share by Email
Share on Facebook
Share on LinkedIn
Share via Text Message

Part of BIV’s What big money buys series: Wealthy Vancouverites are lavishing untold amounts of money on big-ticket indulgences, driving a bonanza for the region’s dealers in luxury furnishings, vehicles, yachts and other top-tier toys.

Given Vancouver’s location on the Pacific Ocean, it’s hardly surprising that one of the top-selling toys for Vancouver’s wealthiest residents is a yacht or high-end fishing boat.

While the number of Vancouverites who own superyachts, like billionaire Jim Pattison, appears to be relatively low, there is such a big demand for smaller pleasure craft in the 40-to-60-foot range in B.C. that Tim Charles, principal owner of Platinum Marine, recently launched a new line – Tactical Custom Boats – for that market.

Luxury models are driving yacht and fishing boat sales in B.C.

A new marina in Victoria highlights the growing demand for superyacht moorage in B.C. The 28-slip Victoria International Marina, which opened in May, can accommodate up to 12 superyachts in the 100-to-120-foot range, and one up to 175 feet in length. The first 40-foot yacht being built at Platinum’s shipyard on Mitchell Island will cost $1.5 million and comes with a mini submarine and drone.

“We have a 43-inch-screen television that pops down,” Charles said. “You can sit at the screen and you can explore hundreds of feet underwater. It has a grabber arm on it so you can see and touch and pick up things underwater.”

Tactical is also building a 77-foot US$6.5 million yacht.

“It is military and navy-grade aluminum hull construction,” Charles said of the Tactical series. “So it is a very heavy-duty boat, but it is completely done with yacht finishes.”

Platinum also owns Crescent Custom Yachts, which builds superyachts ranging in size from 100 to 150 feet and with prices that range from US$14 million to US$24 million. Crescent’s customers are almost exclusively international – mostly American – but Charles expects that nearly all buyers for the new Tactical yachts will be from B.C.

“It’s something the market’s been asking for,” Charles said. “I would say 95% of all of our customers are business owners. The amount of business that’s done on people’s yachts and boats is just tremendous. It’s a business sales tool for many people.”

Another growing demand in the Vancouver market is for luxury fishing boats, said Bob Pappajohn, president of M&P Mercury Sales, which sells both yachts and fishing boats.

“The luxury fishing boat segment has been just incredibly strong,” Pappajohn said. “We are seeing a trend toward higher luxury. One of the biggest trends right now that’s really fuelling this is we’re getting people buying who haven’t owned a bunch of boats before and are really new to it.”

One of the more popular models is a 42-foot Boston Whaler fishing boat that sells for $1.8 million.

Pappajohn said yacht and fishing boat sales have been very healthy in the last few years in Vancouver.

“We’ll sell a half a dozen boats a year,” he said. “Back in 2009-10, it was amazing if you sold one.”

Not only is the number of high-net-worth individuals in Vancouver rising, it’s also becoming easier to pilot a yacht or fishing boat, Pappajohn said, thanks to technology like joystick steering that makes docking a modern boat a cinch.

“The biggest reason for the increase in sales is that it’s more accessible, it’s easier to do, and, yes, there’s more wealth,” Pappajohn said. “Even people spending a lot of money for a day boat to go fishing, they want the high-end one.”

As for the bigger, more luxurious yachts – superyachts or megayachts – Vancouver sees its fair share of them, although many are owned by wealthy Americans. The most spectacular yacht to grace local waters might be the Attessa IV, which can sometimes be seen in Coal Harbour.

It’s hard to miss, and not just because of its size (332 feet). The yacht comes with a small helicopter. It also features a swimming pool, a 12-seat theatre and four guest rooms.

The Attessa IV is owned by Dennis Washingtion, the American billionaire whose Washington Companies is the largest shareholder of Seaspan Corp. (NYSE:SSW), the world’s biggest independent charter owner and manager of container ships. According to Forbes, the Attessa IV is valued at $300 million.

Pattison’s 150-foot Nova Spirit yacht is valued at $25 million, according to SuperYacht Fan. According to MSN, it costs $72,000 just to fuel the yacht, which has a nine-person crew.

Estimating how many superyachts are owned by British Columbians is difficult, partly because some of them might be registered outside of Canada. But Craig E. Norris, CEO of Victoria International Marina, estimates that anywhere from 50 to 100 yachts in the 65-foot-and-up range are owned by British Columbians.

[email protected]

@nbennett_biv

This has been shared 0 times

More economy, law & politics.

Two Indigenous nurses pave the way to overcoming a colonial past to lead in health care

Company-Histories.com

learn how over 7,000 companies got started!

Listed By State

Companies by Letter

The jim pattison group.

The Jim Pattison Group is Canada's third-largest privately owned company, a multinational conglomerate with interests spanning a wide range of products and services, including grocery store chains, automobile dealerships, broadcasting and print media companies, packaging and signage operations, financial services, and other enterprises. The Vancouver-based company is owned by CEO and founder, Jim Pattison, who has directed every step of the company's growth, including impressive annual revenue increases from just over C$2 million in 1961 to over C$4 billion in 2000.

Jimmy Pattison: Entrepreneur Extraordinaire

No history of the Jim Pattison Group is complete without discussion of its colorful, prominent, and controversial owner, President Jimmy Pattison. Pattison's influence on British Columbia has grown to such an extent that comedian Bob Hope once described British Columbia as a suburb of Jim Pattison. In a 1998 article for the Financial Post, Keith Damsell postulated: 'It's virtually impossible to spend a Pattison-free day in the province.'

Born in Saskatchewan, Pattison's family moved to British Columbia during the Great Depression. Pattison's entrepreneurial career began in 1935, when at age seven he sold seeds door to door. Other early jobs included bellhopping, washing cars, and delivering newspapers. On V-E Day in 1945, Pattison was called to work to deliver a special edition of The Province newspaper. Ever the entrepreneur, Pattison bought 100 copies himself and later sold them as souvenirs.

Later, while studying Commerce at the University of British Columbia, Pattison was distracted from his studies by his sideline of selling cars to his fellow students. Sensing a lucrative future in automotive sales, he dropped out of school a few courses short of his degree and went to work for a car dealership in Burnaby. Pattison's serious business activities began in 1961 with the purchase of the Burnaby dealership. By the turn of the 21st century, that little business would become a multinational empire covering several industries.

Pattison's business philosophy is said to be encapsulated by the tenet 'no partner, no shareholders, no relatives.' Analysts suggest that by keeping sole ownership of his ventures, Pattison is better able to keep his mistakes to himself and to maintain a long-term view of his enterprises. With a preference for moving quickly and acting independently, he has avoided the lure of the more rigid public market. Throughout Pattison's career, he has demonstrated a pattern of investing heavily in publicly traded companies, then buying out the shareholders.

Anecdotes about Pattison abound. One of the more widely told involved his unique tactic for motivating his sales force back in the days of his first car dealership. According to a Business in Vancouver special edition, 'Business Leaders of the Century (1998),' the entrepreneur would simply fire the lowest achiever at the end of each month. Depending on the source, Pattison is either a ruthless business man or a 'nice guy, devout Christian and family man.' Those advocating the latter perspective point out that he has been generous to a fault, donating both time and money to good causes and public works. In the early 1980s, some even began to refer to Pattison as a pornographer, after he purchased a magazine distributorship called Mainland Magazines. Public outcry from the women's community erupted at the discovery that approximately 250 pornographic magazines were included among the thousands of publications that this company distributed to British Columbia retailers. Stating that the content could be distributed legally in British Columbia, but admitting to finding the magazines personally offensive, Pattison promised to sell the company. However, the sale did not go as quickly as the public had hoped. When it later became known that Pattison was negotiating to sell Mainland Magazines to a business associate, the outcry and personal attacks continued.

Pattison's pragmatic approach to business was also visible when a former CBC journalist, Russell Kelly, published a highly unflattering biography of Pattison. In a review of Pattison: Portrait of a Capitalist Superstar for the Province newspaper, Pamela Fayerman noted that the book 'paints him as a greedy, porn-peddling hypocrite.' After another book firm sold the first run of 6,000 copies very quickly, Pattison's Mainland Magazines decided to handle the book and took over its distribution. Pattison reported that he had not found time to read the book himself, adding that he left marketing decisions to his employees.

Regardless of its detractors, The Jim Pattison Group is among Canada's largest corporate donors, and one-tenth of the entrepreneur's personal income is directed to charities. Pattison is said to have slipped a C$1 million dollar check into the collection plate of the church he attended and also to have donated C$25 million to a private Christian school. In 1998, Pattison donated C$25 million to a New York Business Association to help clean up the area and also gave C$20 million to prostate cancer research. Moreover, the entrepreneur also became known for spending time and effort on good causes. In the 1980s, he accepted the position to chair Vancouver's World Trade Fair, Expo '86, for a fee of one dollar a year. At project's end, amid criticisms of his ruthless managerial style and well-publicized allegations of conflict of interest activities, Pattison brought the C$1.6 billion project in C$32 million under budget.

As Pattison and his family have learned, there is a price to be paid for public prominence. Shortly before Christmas, 1990, Pattison's adult daughter was kidnapped. Pattison paid a ransom of C$200,000 for his daughter's release. Shortly afterwards, eight kidnappers were arrested and convicted. Five years later, another man was charged for attempting to extort C$2 million from Pattison and of threatening death or bodily harm.

A person of many interests, including playing the trumpet and the organ, Pattison has also become notorious for his personal shopping sprees, which have included the purchase, for US$4.6 million, of Frank Sinatra's former home in Palm Springs, California, complete with furniture and Lionel model train collection. (The home was later designated for business use.) At an auction sale, Pattison bought John Lennon's psychedelic Rolls Royce for US$2.3 million. The Rolls was installed in the British Pavilion at Expo '86 and later donated to the Royal British Columbia Museum in Victoria. Other purchases have included a US$1 million selection of Marilyn Monroe memorabilia, later included in the holdings of Pattison's Ripley's Believe It Or Not! entertainment and museum chain. The memorabilia included a traveling makeup case and color snapshots of Monroe's dog, Mafia.

However one views Pattison's approach to business, no one can deny the success of his enterprises. Business in Vancouver described Pattison as 'The quintessential West Coast entrepreneur,' concluding that, 'At the end of the century, Pattison is easily the most recognized and influential business leader in the province.'

History of an Canadian Conglomerate

The roots of Jim Pattison Group stem back to the late 195s when Pattison ran a car lot for a man named Dan McLean. In addition to setting sales records, Pattison convinced McLean to invest in the largest neon sign in North America. The sign proved significant, not only because it stood for almost 40 years, but also because it set the wheels in motion for what later was to become Pattison's Signage Group.

In 1960, Pattison was offered the chance to go in on a business deal with McLean's son-in-law. The deal would have made him a million almost immediately, but Pattison turned it down. Instead, he took out a C$40,000 loan against his mortgage and his insurance, and bought the troubled GM dealership he was working at, changing the company's name to Jim Pattison Lease. The bank loan was repaid within one month, and the dealership went on to become one of the largest in western Canada.

Pattison went on to acquire more companies in rapid order. First came the purchase of local radio station CJOR. Two years later, in 1967, he purchased Neon Products, the signmaker that had created the dealership's huge neon sign.

The entrepreneur began operating on a philosophy of ploughing most of what he earned back into the business, and he also believed strongly in diversification. As his success grew, and his acquisitions became larger, a personal style emerged that Financial Post writer Damsell described as 'the creeping takeover.' Under this method, Pattison took his time learning about a prospective takeover target, and gradually began buying shares in the company, before taking it over outright.

Not all of Pattison's investments were successful. In 1969, one of his holdings, a company called Neonex, unsuccessfully tried a takeover of Maple Leaf Mills Ltd. of Toronto. Pattison was almost bankrupted in the process. The Maple Leaf Mills takeover resulted in a series of lawsuits that took 13 years to settle. At the same time, Neonex incurred losses from a carpet company it had taken over. Neonex shares went from a high of C$45 to a low of 80 centers a share. Suddenly, Pattison was in financial trouble and his credibility had suffered considerable damage. When the entrepreneur rebuilt his fortune in the late 1970s, he took Neonex and another company, Great Pacific, private. Experts speculated that Pattison's experience with publicly held corporations had scarred him for life. A few other unsuccessful forays included involvement with the World Hockey Association and bids for such sports teams as the Vancouver Canucks and the British Columbia Lions.

Nevetheless, Pattison persevered and continued to expand his company. In time, he acquired grocery store chains, fish canning plants, and aviation companies, and, by 1970, the foundation of the Pattison empire was in place. In one of his better-known deals of the time, the entrepreneur purchased the maker of Orange Crush soda and sold it within six months at a C$44 million profit. Pattison's holdings in 1970 were generating over C$100 million in annual revenues, and the company employed over 2,000.

By 1979, Pattison had 44 profit centers, and the Jim Pattison Group was Canada's 11th largest company. It was the only privately held firm among the top 500. In 1980, the company reported annual sales of C$500 million and employed a work force of some 6,000. During these boom years, before the recession of the early 1980s, according to Vancouver Sun writer Der Hoi-Yin, 'Pattison had the incredible foresight to veer against the going takeover trend and instead liquidate the bottom 20 percent of his assets.' These assets, an estimated C$140 million in cash and liquid money market instruments, would later be used for new acquisitions after the recession ended.

In the early 1980s, a recession in Canada let to cutbacks and layoffs. Concerned over a myriad of challenges, including high interest rates, government deficits, high unemployment, low productivity, and the potential for an international banking collapse of a third world nation, Pattison cut back on expenditures and acquisitions. Still, during this time Pattison agreed to chair the world trade fair, Expo '86, for the fee of one dollar a year. He somehow managed to look after his own interests and manage the Expo project as well.

In 1884, Pattison drew upon his cash reserves and began aggressively acquiring new holdings, perhaps the best know of which was Ripley International Ltd., operator of Ripley's Believe It or Not! museums. At an estimated cost of C$17 million, Pattison acquired 13 wholly owned museums in Canada, the United States, and Europe, real estate properties, royalties to a Believe It Or Not board game that was then the number two seller in the United States, license arrangements to Believe it Or Not! novelties, and comic strips that were running in approximately 300 newspapers. Also during this time, Pattison added the Jim Pattison Yacht Leasing division to his business empire. It was the only leasing program for boats in Canada.

In the early 1990s, the entrepreneur overhauled and revamped many of his companies. By way of setting an example, Pattison pledged to cut his costs at the head office by 25 percent. Cuts included staff layoffs, cancelled publication subscriptions, elimination of travel and hotel expense accounts, and even efforts to reduce telephone bills. 'We have to get our costs down if we're going to continue to grow. We're cutting loose the non-performers and the businesses we don't think can make it in a borderless society,' Pattison was quoted as saying.

The 1990s brought about many new acquisitions and new markets. In 1990 the Jim Pattison Group acquired the Foodservice Packaging Group and the Flexible Packaging Group, as well as Coroplast and Montebellow Packaging. In 1991, the Jim Pattison Trade Group was established, as was a new Financial Services Division. By the mid-1990s, the Jim Pattison Group was generating annual sales of C$3.3 billion. In 1994, Pattison was involved in restructuring the debt of the Westar Group and became the majority shareholder, as well as acquiring Westshore Terminals, a British Columbia-based coal-export terminal facility. The following year, the Pattison Group acquired Buy-Low Foods, and in 1997, Pattison started Select Media Services. In 1999, he acquired Cooper's Foods.

Throughout his career, Pattison continued to support a theory of streamlined management. In 1997, the corporate empire, with C$3.4 billion in sales and 17,000 employees, was run with fewer than ten executives. After buying control of the Westar Group, Pattison closed down the head office and reduced staff there to one person. The Globe & Mail reported, 'When Mr. Pattison buys a company, its staff go into shock when they are presented with his management style, but workers who survive generally emerge as part of a healthier company.'

Surviving employees were often well rewarded for years of good service. The late Bill Sleeman first met Pattison back in 1961 when he worked for the GM dealership that Pattison managed. Sleeman later joined the Pattison empire and eventually retired in 1990 after 21 years of service. The North Shore News reported that Pattison gave him a red Rolls Royce convertible, saying, 'We gave that to him as a goodbye present. If there was anything better, we would have done that.' In his role as vice-chairman of the Jim Pattison Group, Sleeman acquired more than 50 private companies for his employer. At the end of 1999, the Jim Pattison Group had 22,000 employees and sales of C$4.6 billion, and the company showed no signs of slowing down.

Principal Subsidiaries: Jim Pattison Developments Ltd.; Canadian Fishing Co.; Merchant Media Ltd.; Ski Media Ltd.; Great Pacific Capital Corp.

Principal Divisions: Jim Pattison Trade Group; Food Group; Sign Group; Out-Of-Home Media Group; Automotive Group; The News Group; Communications/Entertainment; Broadcast Group; Financial Services; Flexible Packaging Group; Food Service Packaging Group; Specialty Packaging Group; Export Service.

Principal Operating Units: Buy-Low Foods; Save-On Foods; Overwaitea Foods; Giant Foods; Associated Grocers; Shop N' Save; Kanaway Seafoods; Ripley Entertainment; Guinness Attractions; Louis Tussaud's Waxworks; Beautiful British Columbia; Genpak; Purity Packaging; Fibracan; Montebello Packaging; Coroplast; Westshore Terminals; Strout Plastics; Continental Extrusion; Progressive Packaging; CFJC-AM/CIFM-FM Radio; CFJC-TV; Jim Pattison Toyota; Jim Pattison Lease; Jim Pattison Chevrolet Oldsmobile; Gould Outdoor Advertising; Hook Outdoor Advertising; MétroBus; Seaboard Advertising; Neon Products; Claude Neon.

Principal Competitors: Empire Company Ltd.; George Weston Ltd.; Canada Safeway Ltd.; Quebecor Inc.

Source: International Directory of Company Histories , Vol. 37. St. James Press, 2001.

Quick search

Company histories.

As consumers, we often take for granted all the hard work that goes into building a great company. We see them around but we don't know what goes on behind the scenes. Finally, we can read about how these great companies came about with Company Histories. .

Share This Story

Companies by State

Connecticut
Massachusetts
Mississippi
New Hampshire
North Carolina
North Dakota
Pennsylvania
Rhode Island
South Carolina
South Dakota
West Virginia

Interesting Companies

Next Media LTD
Cygne Designs, Inc
Prada Holdings B.V.
Gulfstream Aerospace Corporation
Cannondale Corporation
New Balance Athletic Shoe, Inc.
Ocean Spray Cranberries, Inc
Nordstrom, Inc
Banta Corporation

Billionaire Jimmy Pattison is 94 and goes to work every day. What’s his secret?

He’s still overseeing an empire that spans eight industries (from coal terminals to grocery stores to novelty museums) and generates revenue of $14-billion a year

This article was published more than 1 year ago. Some information may no longer be current.

Evaan Kheraj/The Globe and Mail

There was a time, back in the 1960s, when Jimmy Pattison seemed to most Canadians like a magic trick. He was driven by unknown forces. “A jumping-bean of a man” is how one writer put it. One minute he was the owner of a car dealership, and practically the next, he was a “tycoon.” He’d bought an underachieving company selling outdoor illuminated signs and turned it into a conglomerate. A Vancouver newspaper called him a billionaire long before he’d actually achieved that status; it just seemed inevitable. By the mid-1980s he owned nearly 40 companies, all related to consumer goods or services, and still he wasn’t satisfied. He was the kind of rich man who owned a yacht luxurious enough to host Prince Charles and Princess Diana, yet still checked the coin-return boxes of every payphone he passed. The latest Forbes estimate puts his net worth at close to $15 billion, though he never took the Jim Pattison Group public, so it’s hard to know for sure. His value as an example of what any Canadian with an insatiable appetite for business success can achieve, however, might be immeasurable. We chatted via Zoom from his office in downtown Vancouver.

Okay, go ahead and shoot.

Great! Here’s my first question. You’re 94 years old, and you’re still CEO and chairman of the company you started about 60 years ago. Why are you working and not out on your yacht somewhere?

Well, first of all, because I owe the banks money. That’s a good start on it. But the reason I do what I do is ‘cause I haven’t found anything I like doing better. I like going to work every morning. In fact, when I get off this deal with you, I’m on my way to Saskatchewan, where we just built a new building for our John Deere dealership in Humboldt.

You once said, “You don’t have to be smart to make a lot of money, just as long as you’re not too stupid.” Is that true still?

If I said that, I don’t recall saying it. To make money, you have to find the opportunity, and then you have to execute.

Back when you started in the ‘60s, you had a Buick dealership and a radio station. Then all of a sudden you started buying a whole bunch of businesses. It was like you were struck by lightning. What triggered that?

What is that?

Young Presidents’ Organization. It was a deal, both in Canada and America, for people like me, that got together and had meetings.

You were inspired by YPO.

I was inspired. When I joined this organization, the B.C. group belonged to the American part of the organization. And the Americans tend to be very aggressive, in many cases, in business. And when I saw the vision these people had, with no money, it gave me the opportunity to grow.

You once said that what held people back was a lack of courage. Where did you find your courage?

Well, I can tell you, the Royal Bank loaned me $40,000, and I got started with a car dealership in Vancouver. That was my start. And so, I spent my whole life borrowing money, paying it back, and investing it in something that I had a rough idea I could make some money with. And some have worked, and some have not worked. (1)

Was there ever a time when your courage failed you?

That’s a very definite answer.

That doesn’t mean I didn’t make a lot of mistakes. Failures, I’ve had my share of those. But it was never because I was afraid to get up in the morning and try something new.

Since we’re talking about mistakes, do you want to tell me what you think your biggest mistake was?

I would say my biggest mistake was going into a high-tech deal I knew nothing about, with a bunch of people. I bought this company, and it was high tech, I didn’t understand the business, and the people were not competent. I probably paid a million and a half for it or something like that. I lost it all. That taught me a great lesson—to be sure I know a little bit about what I’m getting into.

If I were starting out right now and had my eye on making $1 billion, what advice would you give me?

Well, No. 1 is always be honest, no matter what. And if you’re borrowing money from the bank, you gotta have a good reason for where the money goes and why, and how you’re gonna pay it back. Work hard, be honest, and when you make a mistake, don’t try to prove you’re right.

Don’t keep hitting the nail with the same hammer. Just move on. If you find out you’re not a carpenter, quit and do something different.

I’m sorry to keep throwing your old quotes back at you, but you once said, “Deals are made in dark rooms and strange places.” Is that still true?

No. I don’t even remember that quote, if I said it. But usually when we were doing a deal, it would be a small little family business, and it could be in a farmhouse. It could be in a garage. It could be in a car. But it wouldn’t be in a fancy boardroom like I’m sitting in right now. The deals we do today involve more money and sophisticated people, and we usually have lawyers on both sides, and all of that.

As you were building your empire, a lot of people admired you. Was there a peer or business figure whom you admired?

There certainly was, and I can’t recall who they would be. There was one in Texas—I can’t remember his name today. And then there was a bunch of people, mostly Americans, that came from nothing.

Did you ever look up to Warren Buffett, as an investor?

Absolutely, Warren Buffett’s in a class all by himself.

You don’t see any similarities between you and him?

Oh, no. I’m a nothing compared to Warren Buffett. (2) Warren Buffett, by the way, sent me a picture one time, unsolicited, with a note written on it. And I got to know Warren Buffett. Now you’re talking to somebody that really knows what he’s doing.

Since the 1960s, you’ve been through a number of recessions. What is your opinion about where the economy is headed this year?

That we’ll get through it, and things will be fine.

Are you doing anything special to prepare for a possible recession?

We’re not doing anything special, but we’re cautious of being sure that we’re not over-leveraged, if things go wrong.

You used to make a distinction between business people in the West, and those in the East. You felt that westerners were more trustworthy. How do you feel these days?

I don’t recall ever saying that they’re more trustworthy. The people in the West, I have found, will take more chances than the people in the eastern part. They’re more risk takers than the people that I’ve dealt with in the eastern part of the U.S. or Canada.

Looking back, where would you rank Expo 86 on your list of accomplishments?

Well, the Expo turned out to be a success, and I was just one of the volunteers. We had hundreds and hundreds of volunteers in British Columbia that worked in the World’s Fair for nothing, and I was just one of them.

Weren’t you pretty instrumental in making things happen?

Well, I was running the fair, and it was my job. But you don’t do it alone. You hire people that contributed, and we had a lot of support from the B.C. government, the Canadian government. It turned out to be successful, but the government of Canada and British Columbia were the people that deserved the credit. (3)

Did your Expo experience ever inspire thoughts of running for political office?

It did. One night at nine o’clock, my phone rang at home, and the party that was in power at the time offered me the job as premier.

Oh, really?

I don’t even remember telling anybody that story before. But Maureen, my assistant, remembers. (4) They called at nine o’clock—a lady by the name of Grace McCarthy. She was a cabinet minister and said, “Jimmy, the premier’s gonna be retiring, and we’d like you to take the job on.” I remember it very well. It was at night, and I was on a speakerphone, and my wife heard the call. “Oh, Jimmy,” she said, “you should do that.” And I slept on it, and decided, no. I was gonna stay a businessman.

And you never considered it again?

I have, ‘cause I’ve had opportunities two or three times, to go into politics. But I decided that I would stick with trying to make money. And not for the interest of making money for money’s sake, but it’s what I like doing.

Looking back at your career, what is your proudest achievement?

I’ve never thought of it. But I got married in ‘51, and I’m still married. Same wife. (5) And this is 70-some-odd years later. I would say probably my biggest accomplishment was staying married, working at night, travelling all over the deal, and still having the same wife when I get home tonight. I got married in 1951 in Moose Jaw, Sask.

What’s your favourite part of doing business?

Going to work in the morning. Usually the two things I deal with are the problems, and the opportunities.

You’ve said many times that you never had any interests or hobbies outside of business, and you seemed proud of that. Is that still true?

I’ve never had any hobbies, but I’ve had outside interests. I spent years playing the trumpet. At one time, I played in the most famous boys’ band in Canada, and they travelled all over the United States, England. And then I learned to play the piano a little bit, so then I played in the church orchestra, and I played in the Vancouver Symphony Orchestra, and I played in bands at UBC. I had a good time with that. (6)

What kind of music did you like playing?

I was basically raised on gospel music. But anything that—”Home on the Range”—anything that was popular. I learned to play without music, although I took music lessons for years, but I basically learned to play by ear. That was easy for me.

When you think about all the deals you’ve done, what was the best one?

The best one was the first one. I bought a General Motors franchise that was a three-pump gas station, and a two-car showroom. The dealership was not doing well, and the owner wanted out, and General Motors gave me the opportunity. I needed $40,000, and the Royal Bank loaned it to me, ‘cause I didn’t have a dime. And I went into business, and that’s the best deal I ever did.

How big a role did luck play in your success?

I’m saying luck.

Well, I’m saying timing. I would say that I’ve been very fortunate with timing, because I didn’t start anything when the whole world was crashing in a depression. It’s the key, ‘cause I’ve always been highly leveraged. Borrowing everything I could, up to the last few years, where we have a lot more of our own money, if you like. So, it’s been the Canadian banks and the American banks. I wouldn’t be here today, talking to you, if it wasn’t for the bank system, and two or three of the managers that took the risk on me.

You’ve been asked many times about your succession plan. The fact that you are still in charge, at 94, suggests you never got around to making one.

You are dead wrong. We’ve had a succession plan ever since I got to 75 or so. I’ve always had somebody coming along that was ready to be a successor, including today. (7)

Do you want to name that person?

No, I’d prefer not to name him, because I may change my mind, if it doesn’t work out.

I think I know what you’ll say to this, but I’ll ask anyway. Is a life spent acquiring businesses and building wealth an attempt to pursue happiness?

No. I like what I do. It’s been something that has turned out well for me. Listen, I’ve made more mistakes than anybody I know, but you don’t live with them. If you make a lot of decisions, you’re gonna make mistakes, usually. But on balance, it’s turned out okay.

I really enjoyed our conversation. Thank you for your time.

Well, Trevor, thank you for your time. I appreciate the opportunity.

1. In 1969, when Pattison was buying company after company, a Vancouver businessman who was asked about him said: “He’s so efficient he scares me.”

2. Buffett’s net worth is roughly $150 billion, a little over 10 times Pattison’s.

3. The World’s Fair, whose theme was transportation and communi-cation, drew 22 million visitors—triple the number who attended Expo 84 in Louisiana.

4. Pattison’s longtime assistant, Maureen Chant, confirms that Grace McCarthy, a powerful cabinet minister in B.C.’s Social Credit Party, did ask Jimmy to run for premier to replace Bill Bennett in 1986 or ‘87.

5. His wife’s name is Mary. They have three children—two daughters and a son, Jim Jr., who is president of Ripley Entertainment.

6. Pattison played with The Kitsilano Boys Band. And according to Chant, Pattison did indeed play trumpet with the VSO for several years.

7. There was speculation that former B.C. premier Glen Clark would take over—he was president for 10 years. But he stepped down in January, a move Pattison said was in the works for a long time. The new president is Ryan Barrington-Foote, a 45-year-old accountant.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today .

Follow related authors and topics

Career development Follow You must be logged in to follow. Log In Create free account
Money Follow You must be logged in to follow. Log In Create free account

Authors and topics you follow will be added to your personal news feed in Following .

Interact with The Globe

B.c.’s new protocols for illicit drug use in hospitals runs up against resource challenges, on the rocks: the death and life of canada’s little bars on the prairie, i’m looking for a small hybrid to replace my hr-v. what do you recommend, canadian women make rugby history with win over the black ferns in new zealand, bank of canada warns of steep jump in mortgage payments, things are changing in cottage country: nine canadians share the financial pros and cons of ownership, former international student, 24, has a decent job and cheap rent but wonders if staying in canada long-term is worth it, behind the arrivecan saga is a widespread scourge of the startup world.

Billionaire Jim Pattison's West Vancouver house for sale for $1 — land not included

In the 1950s, a young car dealer named Jimmy Pattison traded a property he owned near Horsehoe Bay for a small yellow seaside home just a stone's throw from Ambleside Beach.

“The location, the water … the house was very practical for our family,” said the 93-year-old Pattison from the downtown Vancouver offices of the Jim Pattison Group headquarters Tuesday.

"There’s nothing I didn’t like about that house."

Over the years, Pattison’s family members and the captain of his yacht have lived in the home. But as most other waterfront lots between Ambleside and Dundarave were bought by the District of West Vancouver to make way for the public seawall, only Pattison’s house and the one next door remained.

When he was elected mayor of West Vancouver last November, Mark Sager hoped to changed that.

“This was a plan that started 40 years ago when council decided we wanted public access all the way from 25th (Street) and Bellevue (Avenue) to Ambleside Park,” said Sager, who knew he had to speak to Pattison.

“I’ve known Jimmy my entire life, and I phoned him up and said, 'I know this home has great sentimental value for you, but it really is time.' And he’s such a wonderful man, and he said, 'Mark, you’re right.'”

So Pattison agreed to trade the little yellow house again, this time for a piece of property that had been gifted to the district.

“That allowed us to be able to acquire this home without using any taxpayer dollars,” said Sager.

Now that the district of West Vancouver owns the plot of waterfront land, it’s selling the house that sits on it for the tidy sum of $1.

“And who buys the house has to pay for the move and have the land to put it on,” explained Pattison.

“We are hoping somebody will save this home,” said Sager. “Take it and float it away and put it in a new spot, and restore it and keep it so it doesn’t have to go in the landfill.”

The district is partnering with Light House, a non-profit that works to save homes from being demolished.

“This is a valuable home, it has housed people, it can still house people,” said Gil Yaron, Light House's managing director of strategic initiatives.

“There is a housing crisis we are facing today, and homes like the Pattison home can provide housing for people in other communities. There is no reason to tear them down.”

The mayor is confident the home can be moved in one piece.

“Nickel Bros, I believe, have been out and inspected it. They’re a moving company, so I think it can be, yes,” said Sager.

Pattison chuckled when he was told the home he bought nearly 70 years ago could be picked up and moved.

“I guess it’s not a big house, so you probably could do it,” he said.

And Canada’s second-richest man is thrilled the land it sits on will soon become part of the public seawall.

“People can walk in the nice weather, they can take their children there to play in the park,” said Pattison, adding that the district is "doing the right thing.”

The district is also in talks to purchase the house next door, which is now the last remaining obstacle to having a continuous seawall.

“The vision is to complete the Ambleside waterside acquisition plan, and the seawall that started all those years ago,” said Sager.

When Jimmy Pattison moved into the yellow house decades ago, the West Vancouver waterfront was mostly private property. The district hopes it will soon all belong to the people.

Vancouver Top Stories

Canucks' Brock Boeser out for decisive Game 7 vs. Oilers: reports

4 homes lost due to wildfire near Fort Nelson, B.C.

B.C. RCMP appeal for information in decades-old triple murder

'Play my game, trust in myself:' Canucks rookie Silovs ready for big stage in Game 7 against the Oilers

Employee information ‘compromised’ during London Drugs cyberattack, company says

UBC Bee Walk introduces locals to native pollinators

B.C. pipeline company argues its 'haulers' are not trucks, for tax purposes

Walmart, Costco refusing to sign grocery code of conduct 'untenable': industry minister

Ctvnews.ca top stories.

Iran President Ebrahim Raisi found dead at helicopter crash site, state media says

Iranian president, the country’s foreign minister and others have been found dead at the site of a helicopter crash Monday after a search through a foggy, mountainous region of the country’s northwest.

What we know so far about the helicopter crash that killed Iran's president

The apparent crash of a helicopter carrying Iran's president and foreign minister on Sunday sent shock waves around the region.

The push to Parliament's summer hiatus is about to begin, here's what you need to know

When MPs file back in to the House of Commons on Tuesday, it will be for the final five-week parliamentary push before hitting the barbecue circuit. Looking ahead to what could be a raucous rush to the summer hiatus, CTVNews.ca spoke with top House representatives to get a sense of what's atop their priority list.

ICC prosecutor seeks arrest warrant for Israeli and Hamas leaders, including Netanyahu

The chief prosecutor of the International Criminal Court said Monday he is seeking arrest warrants for Israeli and Hamas leaders, including Israeli Prime Minister Benjamin Netanyahu, in connection with their actions during the seven-month war between Israel and Hamas.

Red Lobster seeks bankruptcy protection with US$100 million in financing commitments

U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing $100 million in financing commitments from its existing lenders, the company said on Sunday.

Stittsville residents seeking answers as bylaw cracks down on street basketball nets

Stittsville residents on Kearnsley Way are seeking answers after an unusual bylaw crackdown on Friday. Every home with a basketball net received a ticket instructing homeowners to remove their nets from the road.

What is BORG drinking, and why is it a dangerous trend? An expert explains

If you’ve been to a party lately and haven’t seen someone drinking a BORG, you’re likely not partying with college students.

'A horrible way to start the summer': 3 killed in serious boat crash on lake north of Kingston, Ont.

Three people were killed and five others were injured Saturday night following a boat crash on the Buck Bay area of Bobs Lake, north of Kingston, Ont., the Ontario Provincial Police (OPP) said.

Your kids' ultraprocessed food consumption may put them at higher risk, study shows

The ultraprocessed foods your kids eat now may be putting them at greater risk for cardiometabolic problems – like heart attack, stroke and diabetes – in adulthood, a new study suggests.

Shopping Trends

The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.

Editor's Picks

13 blackout curtains for anyone who needs complete darkness to fall asleep, 17 backyard decor and furniture pieces you need before summer arrives, 20 affordable amazon beauty and skincare products you'll probably repurchase over and over again, here are the best, most practical patio furniture sets we found online, 18 budget-friendly products that are bound to come in handy, 17 useful amazon products that deserve to be in your home, 15 unique father's day gifts they're guaranteed to love, 18 brilliant birthday gifts for the person on your list who is impossible to shop for, 15 birthday gifts that prove good things come in small packages, i tried 7 of the most popular eye creams on amazon canada, and here are my thoughts, our guide to the best beard trimmers in canada in 2024 (and where to get them), 13 inexpensive beauty products that feel luxurious, health & fitness, 15 of the best bike helmets, according to actual cyclists, 12 of the best pickleball sets you can get online right now, our guide to the best bike trailers in canada in 2024 (and where to get them), vancouver island.

A wildfire burning near Fort Nelson, B.C., completely destroyed four homes, according to an update from the Northern Rockies Regional Municipality.

Employee information may have been “compromised” during a cyberattack that shut down London Drugs stores across western Canada, according to the company.

Doctors, patients want options to reduce dialysis waste adding to climate change

Dr. Caroline Stigant, a nephrologist at Royal Jubilee Hospital in Victoria and a leading advocate for sustainable kidney care, said each hemodialysis treatment uses up to 500 litres of water and large amounts of energy.

'Altercation' in Penticton leaves 1 dead: RCMP

One person is dead after a fight in Penticton early Sunday morning, according to authorities.

Suspect fled in 2-door Fiat after convenience store robbery, Merritt RCMP say

A suspect is at large after robbing a convenience store at gunpoint in Merritt, B.C., Friday, according to local police.

Kamloops RCMP issue public warning about 2 men allegedly at centre of 'organized crime conflict'

After four targeted shootings in four days, Mounties in Kamloops are taking the unusual step of warning the public about two men they believe are likely to be targeted in future violent incidents.

McDavid expects 'great Game 7' after Oilers rebound against Canucks

A full-game effort by the Edmonton Oilers led to their 5-1 victory over the Canucks in Game 6 on Saturday to send the best-of-seven series to the limit, with the decisive showdown set for Monday in Vancouver.

RCMP warn of grandparent scams targeting Westlock, Morinville residents

RCMP are issuing a warning after a string of scams aimed at residents in Westlock and the surrounding area.

UCP constituency youth event sparks controversy online over age range

An Alberta RCMP officer was one of many who raised concern online over the age range at an upcoming UCP constituency youth event.

Cell phone use and testing motions pass at Alberta Teachers’ Association General Assembly

More than 500 delegates from across the province met in Calgary Saturday for the Alberta Teachers’ Association (ATA) General Assembly, where the topics included curriculum, classroom sizes, funding and students’ smartphone use.

Calgary Transit offers free ride for road runners

Calgary transit will be free for runners next Sunday morning.

Buttazzoni overtime goal propels Bandits past Crusaders 4-3 in BCHL playoff

With just over two minutes remaining in the first overtime, Mirko Buttazzoni scored to give the Bandits a 4-3 victory over the Sherwood Park Crusaders Saturday in Brooks.

Brooks fall 4-3 to Crusaders in BCHL playoff game

The Sherwood Park Crusaders got some great goaltending from Erick Roest Friday night on the way to a 4-3 victory over the Brooks Bandits.

Lethbridge home prices continue to rise

The average home price in Lethbridge has jumped 11.6 per cent in the last year. A home in Lethbridge now costs just over $374,000 on average. That's according to the latest data from the Alberta Real Estate Association.

Mixed emotions as wildfire evacuees are allowed to return home

Evacuees from Cranberry Portage were allowed to return home Sunday after hundreds were evacuated due to a major wildfire threatening the area.

Officer taken to hospital after Abinojii Mikanah crash

A major artery in Winnipeg is dealing with significant backups after a crash involving a police cruiser.

'A special bird': The unbreakable bond between purple martins and humans

Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.

Sask. police watchdog called in following 'serious incident' involving Regina SWAT

The Saskatchewan Serious Incident Response Team (SIRT) has been called in to investigate an incident involving Regina's Special Weapons and Tactics Team (SWAT).

Moose Jaw street closed 'indefinitely' as police investigate crash scene

Moose Jaw police are advising the public to avoid a tract of 9th Avenue Northeast as officers respond to a collision in the area.

Court eases internet restrictions for Sask. man who matched with a 15-year-old girl on Tinder

A Saskatchewan man who had a sexual encounter with a 15-year-old girl he met on Tinder successfully appealed to shorten release conditions barring him from online dating.

Saskatchewan Roughriders visit Saskatoon for Green and White day

Hundreds of Saskatoon's football fans gathered at Saskatoon Minor Football (SMF) field Saturday to experience the Saskatchewan Roughriders pre-season ahead of their home opener.

'The car was half inside my children's room': Car crashes into Saskatoon apartment building

Firefighters responded to a scene on the 300 Block of Herold Road Friday morning after a car collided with an apartment building.

Here's what's open and closed in Toronto on Victoria Day

The unofficial start of summer is upon us. If you still haven't made plans for Victoria Day, here’s what’s open and closed around Toronto on Monday.

Suspect seriously injured in York, Ont. after ammunition detonates in fire, OPP say

A 56-year-old has been airlifted to hospital with serious injuries after live ammunition exploded in a fire in Haldimand County, Ont.

Ex-partner charged with first-degree murder after 55-year-old woman killed in Montreal

Less than 24 hours after Montreal's 12th homicide investigation began, Montreal police confirmed that a 55-year-old woman's death in St. Michel is the island's 13th homicide. The woman's ex-spouse has been charged with first-degree murder.

Two men, 18 and 20, charged with second-degree murder in stabbing death in St. Henri: Montreal police

Two young men, 18 and 20, have been arrested in connection with the stabbing death of a 27-year-old man, who was killed on Saturday.

CTV News Montreal at 6 o'clock for Sunday, May 19, 2024

CTV News Montreal at 6 o'clock for Sunday, May 19, 2024 with anchor Angela MacKenzie.

NEW THIS MORNING | Review of Ottawa police operations during 'Freedom Convoy' anniversary protests finds gaps in communications

A review of the Ottawa Police Service's (OPS) operations during a "Freedom Convoy" anniversary demonstration in February finds there are gaps in communications between commanding officers when handling major events.

Runners get ready to 'Giv'er' at the Blue Nose Marathon in Halifax

Put your running shoes on, as marathoners in Halifax are getting ready to “Giv’er” in this years Blue Nose Marathon.

Nova Scotia byelection vote set for Tuesday in riding formerly held by popular Tory

Voters in the rural Nova Scotia provincial electoral district of Pictou West are ready to go to the polls Tuesday in a riding that voted decisively Tory in the 2021 provincial election.

Wild breed shows potential for developing drought-resistant potato: researcher

Federal scientists in Atlantic Canada are trying to develop a new breed of potato that is better adapted to growing conditions brought on by climate change.

Vehicle submerged in Sarnia Bay

Sarnia Police, assisted by Lambton EMS, are investigating after a car ended up in the Sarnia Bay.

What’s open and closed in London, Ont. this Victoria Day Monday

Whether you’re looking for fun things to do to in the city or need to run some last minute errands, here’s a list of what’s open and closed in the Forest City this Victoria Day Monday.

As missing St. Thomas, Ont. man turns 35, family still hopeful he’ll be found

Kyle Hancock turned 35 Friday, however his family wasn’t able to celebrate with their loved one.

Two people injured in robbery at Fairview Park Mall: police

A police investigation is underway after a jewellery store at Fairview Park Mall in Kitchener was robbed.

Police investigating shooting at Waterloo business

No injuries were reported after an overnight shooting at a Waterloo business.

What's closed for Victoria Day in Waterloo Region

Before you head out the door Monday, see what's open and closed for Victoria Day.

Northern Ontario

Police say toxic drugs are circulating through northeastern Ontario

Canada’s largest First Nations police service, the Nishnawbe Aski Police Service issued a community safety alert as extremely toxic drugs are likely circulating in many of the communities it serves.

Northern Ont. man jailed 10 days for fishing violations

A Sault Ste. Marie man has been jailed for 10 days for failing to comply with a court order banning him from fishing.

Timmins police offering online reporting, auctions

The Timmins Police Service announced last week the launch of Online Incident Reporting, a new software platform that allows residents to report non-emergency situations anytime, from anywhere and that is moving from in-person to online auctions.

Newfoundland grandmothers can wail on the accordion. A historian wants them on stage

79-year-old Madonna Wilkinson has been playing the accordion since she was 15, when she picked one up that had been left behind at one of her parents' rollicking parties in the oceanside town about 25 kilometres north of St. John's, N.L. She has played Sunday masses and St. Patrick's Day parties, and community events of all kinds.

The latest advice for expecting parents? Sign up for child care as soon as you're pregnant

Canada's new $10-a-day child care program is expanding, but there's growing evidence that demand for the program is rising even faster, leaving many parents on the outside looking in.

Study says aquaculture likely driving wild salmon extinction in Newfoundland

A new study shows an Atlantic salmon population in southern Newfoundland is disappearing, and it says nearby aquaculture operations are a likely contributor to the decline.

Stay Connected

Recent Photos
The Commons
Flickr Galleries
Camera Finder
Flickr Blog
The Print Shop
Prints & Wall Art
Photo Books
Stats Dashboard
Get Auto-Uploadr

Jimmy Pattison's yacht Nova Spirit heads out for last-of-summer cruise in Vancouver

On the last official day of summer, september 21st, jimmy pattison's yacht nova spirit heads out on a cruise of indian arm, dodging three huge cruise ships in a busy vancouver harbour. was invited once on pattison's yacht for a cruise of howe sound with some local luminaries like peter c. newman and assorted business and community leaders. had already decided that howe sound is my favourite place on the planet but that evening cemented it. follow me on twitter @susangittins twitter.com/susangittins.

Your Profile
Your Subscriptions
Support Local News
Payment History
Sign up for Daily Headlines
Sign up for Notifications

West Van buys Jimmy Pattison's waterfront home for $5.2M

Share by Email
Share on Facebook
Share on LinkedIn
Share via Text Message

The District of West Vancouver has purchased one of two remaining privately owned waterfront homes in Ambleside – part of a decades-long plan to buy all of the land between Ambleside Park and John Lawson Park for public use.

Mayor Mark Sager announced at the outset of Monday’s meeting that the district had acquired 1448 Argyle Ave. from its longtime owner, self-made magnate Jimmy Pattison.

“I am delighted that we are that much closer to the completion of this waterfront park plan, something that has been welcomed and anticipated by the community and residents of West Vancouver for decades. I would also like to express my most sincere gratitude to my friend and longtime resident of West Vancouver, Jim Pattison, for helping to make this a reality,” Sager said in a release issued by the municipality during the council meeting.

The district agreed to pay Pattison $5.18 million for the 4,295-square-foot property. The Argyle lot was assessed in 2022 at $5.45 million.

The purchase was made possible by the sale of two district-owned lots on land that was once known as Brissenden Park in Upper Dundarave. Those two properties at 2523 and 2539 Rosebery Ave., sold for $2.59 million each. The buyer: Jim Pattison Industries Ltd.

The real estate deals are expected to close in August.

In an interview, Pattison said he has no plans for the Rosebery properties – and, in fact, he hasn’t even seen them.

“The answer is: I have no idea. I haven't looked at what the house looks like,” he said.

Told the two properties are mostly treed and undeveloped, Pattison was unfazed.

“That’s OK. If there’s trees, they’ll be fine,” he said. “I wanted to accommodate the municipality… They're doing the right thing, in my opinion.”

Pattison, 93, bought the Argyle property in about 1955, when he was still working as a salesman for a General Motors dealership in downtown Vancouver. When he decided to go into business for himself in 1961, he used his equity in the home to get his first $40,000 loan.

“The business did quite well when I got started so I never did have to sell the house,” he said.

When his father became ill, he moved his parents into the Argyle home, and eventually Pattison settled in the British Properties. In more recent years, Pattison has been using the home as a place to put up the captain of his yacht.

The new green space opened up on Argyle Avenue will be renamed Brissenden Waterfront Park to honour the family that donated the land later sold to finance the waterfront acquisition.

Pattison said he has very fond memories of his life on Argyle and he expects his old backyard to be well used and appreciated by the wider community.

“Some of the best years of my life, and I've had a lot of good ones, were in that house,” he said. “That'll certainly be positive for West Vancouver.”

Only one of 32 original privately owned properties remains, at 1444 Argyle Ave.

In his remarks to council, Sager said the district’s plans to purchase the waterfront weren’t always popular, dating back to his early days on council in the '90s, but he added it was the right thing to do.

“We wore a lot of scars because there were plenty of people in the community who thought we shouldn’t acquire those homes but I’m very, very happy that councils stood firm over all of the years and all the different people involved, and took every opportunity to acquire the homes,” he said.

Acquiring the last of the properties is one of the components of the 2016 Ambleside Waterfront Concept Plan, which seeks to revitalize the area.

[email protected] twitter.com/brentrichter

Oldest Newest

This has been shared 0 times

Photos: Look inside the first cannabis store in West Van's Ambleside area

Featured Flyer

He’s 91 and worth billions. Now Jimmy Pattison is hunting deals

Sometimes dubbed Canada's Warren Buffett, 91-year-old Jimmy Pattison has a view of the pandemic's impact that few can match.

Author of the article:

You can save this article by registering for free here . Or sign-in if you have an account.

Article content

Billionaire Jimmy Pattison says his phone won’t stop ringing. There’s nothing like a global crisis to drive deals to those with cash.

“We’re looking today at opportunities like we’ve never had before,” Pattison said Monday by video conference from Vancouver. “We’ve never been in better shape to invest. The question now is, where do we feel comfortable?”

He’s 91 and worth billions. Now Jimmy Pattison is hunting deals Back to video

Sometimes dubbed Canada’s Warren Buffett, the 91-year-old Pattison has a view of the pandemic’s impact that few can match. He presides over an empire that operates in some 85 countries spanning an array of industries: supermarkets, lumber, fisheries, disposable packaging, theme parks, auto dealers and more. Last year, the closely held Jim Pattison Group Inc. had $10.9 billion in revenue and employed 48,000 people.

Subscribe now to read the latest news in your city and across Canada.

Unlimited online access to articles from across Canada with one account.
Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on.
Enjoy insights and behind-the-scenes analysis from our award-winning journalists.
Support local journalists and the next generation of journalists.
Daily puzzles including the New York Times Crossword.

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.
Share your thoughts and join the conversation in the comments.
Enjoy additional articles per month.
Get email updates from your favourite authors.

Sign In or Create an Account

Pattison said he has been contacted by a number of private companies, some of them “significant” in size, that need money because of COVID-19 and the recession. He won’t speculate on where he’ll do his next deal. But he is certain that some of the economic changes wrought by the pandemic will be lasting. Airlines are out, downtown hotels face a difficult road back and the restaurant industry will never be the same, Pattison said.

Among his own companies, the hardest hit have been tourism-related stalwarts like Ripley Entertainment Inc., which typically hosted 15 million visitors annually at its museums and aquariums, and the Canadian franchise of Great Wolf Lodge, a chain of indoor water parks.

“I can tell you one thing — there’s never been anything like this in the history of the world,” said Pattison, who grew up in Western Canada during the Great Depression. “It’s certainly going to affect what we buy.”

Before the pandemic, “I’d have put 100 per cent of our money into a Great Wolf Lodge, but I wouldn’t today.” The coronavirus isn’t a one-time risk either, he said. “It can happen again.”

Stay on top of the latest real estate news and home design trends.

There was an error, please provide a valid email address.

By signing up you consent to receive the above newsletter from Postmedia Network Inc.

A welcome email is on its way. If you don't see it, please check your junk folder.

The next issue of West Coast Homes will soon be in your inbox.

We encountered an issue signing you up. Please try again

Climate Focus

Pattison, Canada’s fifth-richest person, built his empire from a single, loss-making Vancouver car dealership he acquired in 1961. His fortune today is worth about $6.7 billion, according to the Bloomberg Billionaires Index. In his office hangs a framed photo of Pattison and Buffett with a message scribbled across the top by the head of Berkshire Hathaway Inc.: “To a man who’s built a business as interesting as Berkshire’s.”

Pattison sits in a conference room at his 18th-floor headquarters in a tower that typically looks onto Vancouver’s pristine harbour and craggy, forest-draped mountains beyond. Recently, that view has been obscured by a sickly grey haze. Smoke from forest fires raging along the U.S. West Coast has been drifting north, at times making Vancouver No. 1 on the list of cities with the world’s most polluted air.

“We have got to focus on the environment, the environment, the environment,” Pattison said. “Anything that is negative, in my opinion, to do with the environment is going out of business sooner or later.”

It’s a remarkable shift in Pattison’s preoccupations. When interviewed by Bloomberg in 2018 over the course of two days, he never once mentioned climate change.

But the signs have become impossible to ignore. Exploding pine beetle populations are decimating the province’s lumber industry, with major impacts on companies such as Vancouver-based Canfor Corp., of which Pattison holds 51 per cent. The 700 boats his fishing business owns are finding it harder to catch fish in some places as oceans get warmer.

“It is absolutely the No. 1 thing that we have on our list when we’re looking at buying something — how does that affect the environment,” Pattison said.

Yet that conviction wavers when it comes to Westshore Terminals Investment Corp., the largest coal loading facility on the west coast of the Americas.

“If people want to buy the coal — we’re not selling the coal, we’re a service department, if you like, shipping it — that’s not our decision,” he said, acknowledging it’s a cash cow with a shrinking life span. “There will be a day, in my opinion, when there will be no thermal coal going out of that terminal.”

In the meantime, the former used car salesman is getting familiar with the trappings of the new energy economy. He spent last weekend test driving a Toyota hydrogen car around southwestern B.C.

“All I’ve driven is engines all my life and so when you get something that’s this smooth and fast and goes like a dart and quiet,” he trails off, marvelling. “Boy, I never drove anything nicer.”

Succession Plan

Like most, the coronavirus has changed Pattison’s daily life in unexpected ways. He values face-to-face interaction so much that he drives across part of Canada every year to visit his supermarkets and auto dealerships in person. Today, he estimates 70 per cent of the desks at Pattison Group’s headquarters are empty and he’s wondering how to plan that annual road trip when communities fearful of the virus don’t welcome out-of-town licence plates.

“I’ll go as soon as I think they won’t throw tomatoes at me,” he said.

Yet some things remain constant. Pattison still comes into his headquarters every day, as does Maureen Chant, his executive assistant for the past 57 years. He’s still acquiring car dealerships — four more in the last 120 days.

Pattison, who turns 92 on Oct. 1, talks matter-of-factly about his group’s succession plan, which he reviews and updates every quarter.

“If I don’t make it to dinner tonight, we’re all set to go,” he said. He has lined up the directors, the management team, a role for a foundation, as well as the next chief executive officer.

“There’s got to be one boss,” he said.

Who will it be? “You’ll find out.”

Abbotsford YouTuber fined $350,000 for defamation

Exclusive: how a b.c. student died after overdosing in a victoria dorm — and the major mistakes her parents say were made that night, victoria cyclist left quadraplegic after crash says icbc savings are built on backs of crash victims.

Letters to the Sun: 'No fun' West End waterfront decision shows need for elected park board to stay

Heat pumps explained: what are they and how to get a rebate in b.c..

You've reached the 20 article limit.

You can manage saved articles in your account.

and save up to 100 articles!

Looks like you've reached your saved article limit!

You can manage your saved articles in your account and clicking the X located at the bottom right of the article.

IMAGES

Canadian Billionaire, Jimmy Pattison's Yacht the NOVA SPIRIT
NOVA SPIRIT Yacht • Jim Pattison $25M Superyacht
Jimmy Pattison's yacht Nova Spirit heads out for last-of-s…
NOVA SPIRIT Yacht • Jim Pattison $25M Superyacht
IMG_1548
NOVA SPIRIT Yacht • Jim Pattison $25M Superyacht

VIDEO

"Nova Spirit", composed by Robert Buckley

COMMENTS

NOVA SPIRIT Yacht • Jim Pattison $25M Superyacht
The Nova Spirit yacht is a Trinity-built yacht, crafted in 1999. It can accommodate up to 12 guests and a crew of 9. Powered by two Caterpillar Engines, it reaches a top speed of 20 knots and has a cruising speed of 16 knots. The yacht's owner is Canadian billionaire Jim Pattison. Famous guests have included George Bush and Oprah Winfrey.
JIM PATTISON • Net Worth $10 Billion • House • Yacht
Key Takeaways. Jim Pattison is the founder of the Pattison Group, Canada's second-largest privately held company.; He started his career washing cars and eventually owned the largest car dealership in Western Canada. In 2008, he acquired Guinness World Records.; The Jim Pattison Group is a diversified conglomerate with interests in various sectors and generates over US$ 10 billion in annual ...
Jim Pattison
James Allen Pattison OC OBC (born October 1, 1928) is a Canadian business magnate and investor. He is based in Vancouver, British Columbia, where he holds the position of chief executive officer, chairman and sole owner of the Jim Pattison Group, Canada's second largest privately-held company, with more than 45,000 employees worldwide, and annual sales of $10.1 billion.
Nova Spirit Yacht
Nova Spirit Yacht A beautiful unique ship owned by Canadian Billionaire Jimmy Pattison. A wonderful experience to enjoy sailing the BC waters while entertaining clients aboard. Many celebrities, politicians, dignitaries and clients of the Pattison Group are invited aboard. Specifications: Length : 150.00 ft / 45.70 m Beam : 30.00 ft / 9.15 m Draught : 7.00 ft / 2.15 m World Rank : -- Hull ID ...
As he turns 90, Jim Pattison is still fine-tuning his business empire
Bookmark. Jim Pattison had a mission: Saskatchewan or bust. Determined to make the lengthy drive to the Prairie province from Vancouver, the B.C. billionaire embarked on his journey in mid ...
How Canadian billionaire Jim Pattison came around to believe in climate
The corporate empire began in 1961 with Jim Pattison's first car dealership in Vancouver. The empire grew through acquisitions. The company prioritizes many factors when evaluating a target, and ...
VibrantVictoria
VibrantVictoria. ·. October 28, 2021 ·. Jim Pattison's luxury yacht Nova Spirit has arrived in downtown Victoria's Inner Harbour. The nearly 46 meter long vessel, constructed in 1999, was constructed at a cost of $25 million and costs between $1 million and $2 million per year to operate.
James A. "Jimmy" Pattison (1928-
Pattison, James A. "Jimmy ... The home is a corporate retreat along with his white-carpeted yacht, Nova Spirit, which is used to ferry visiting executives on harbour cruises along the West Vancouver waterfront. His venture into broadcasting began with the purchase of CJOR Vancouver from the Chandler family in 1965. In 2003, The Jim Pattison ...
For sale: The yellow house behind billionaire Jim Pattison's empire
Jimmy Pattison in 2019. The self-made billionaire has businesses in advertising, forest products, media, seafood, grocery stores, commercial real estate and more. ... After his folks passed away, the captain of his 150-foot yacht, called the Nova Star, lived there. Advertisement 4. Story continues below.
Jim Pattison, nicknamed 'Canada's Warren Buffett,' drives his own
She oversees Pattison's $25 million, 150-foot yacht, the "Nova Spirit," which has hosted everyone from Princess Diana to Oprah Winfrey. She also looks after his private jets, his Vancouver ...
Expensive tastes: Business owners helping put wind in B.C.'s luxury
Pattison's 150-foot Nova Spirit yacht is valued at $25 million, according to SuperYacht Fan. According to MSN, it costs $72,000 just to fuel the yacht, which has a nine-person crew.
The Jim Pattison Group -- Company History
Also during this time, Pattison added the Jim Pattison Yacht Leasing division to his business empire. It was the only leasing program for boats in Canada. In the early 1990s, the entrepreneur overhauled and revamped many of his companies. By way of setting an example, Pattison pledged to cut his costs at the head office by 25 percent.
The Jim Pattison Group
Also during this time, Pattison added the Jim Pattison Yacht Leasing division to his business empire. It was the only leasing program for boats in Canada. In the early 1990s, the entrepreneur overhauled and revamped many of his companies. By way of setting an example, Pattison pledged to cut his costs at the head office by 25 percent.
Nova Spirit Yacht
Jim Pattison's Yacht Nova Spirit
Billionaire Jimmy Pattison is 94 and goes to work every day. What's his
Bookmark. There was a time, back in the 1960s, when Jimmy Pattison seemed to most Canadians like a magic trick. He was driven by unknown forces. "A jumping-bean of a man" is how one writer put ...
Jim Pattison's West Vancouver house for sale for $1
Billionaire Jim Pattison's West Vancouver house for sale for $1 — land not included. In the 1950s, a young car dealer named Jimmy Pattison traded a property he owned near Horsehoe Bay for a ...
Jimmy Pattison's yacht Nova Spirit heads out for last-of-s…
On the last official day of summer, September 21st, Jimmy Pattison's yacht Nova Spirit heads out on a cruise of Indian Arm, dodging three huge cruise ships in a busy Vancouver harbour. Was invited once on Pattison's yacht for a cruise of Howe Sound with some local luminaries like Peter C. Newman and assorted business and community leaders.
West Van buys Jimmy Pattison's waterfront home for $5.2M
The Argyle lot was assessed in 2022 at $5.45 million. The purchase was made possible by the sale of two district-owned lots on land that was once known as Brissenden Park in Upper Dundarave. Those ...
Home
Jim Pattison Auto Group. The automotive home of drivers in Western Canada. Growth. We're growing and seeking future acquisitions. News. See what's happening throughout the group. Corporate Office. Suite 1800 - 1067 West Cordova St. Vancouver, BC V6C 1C7 . Contact. 604.688.6764 [email protected].
He's 91 and worth billions. Now Jimmy Pattison is hunting deals
Pattison, Canada's fifth-richest person, built his empire from a single, loss-making Vancouver car dealership he acquired in 1961. His fortune today is worth about $6.7 billion, according to the ...
He's 91 and worth billions. Now Jimmy Pattison is hunting deals
Pattison, Canada's fifth-richest person, built his empire from a single, loss-making Vancouver car dealership he acquired in 1961. His fortune today is worth about US$6.7 billion, according to the Bloomberg Billionaires Index. In his office hangs a framed photo of Pattison and Buffett with a message scribbled across the top by the head of ...

How Canadian billionaire Jim Pattison came around to believe in climate change

Social Sharing

The meeting with a U.S. vice-president influenced Canadian billionaire Jim Pattison on climate change

ABOUT THE AUTHOR

Related Stories

James A. “Jimmy” Pattison (1928-

Pattison, James A. “Jimmy” (1928- )

For sale: The unremarkable yellow house behind billionaire Jimmy Pattison’s empire

Article content

Sign In or Create an Account

Who is Jim Pattison? Empire builder and billionaire

You've reached the 20 article limit.

Looks like you've reached your saved article limit!

Jim Pattison, nicknamed ‘Canada’s Warren Buffett,’ drives his own pickup truck

Share story

Most Read Business Stories

Expensive tastes: Business owners helping put wind in B.C.’s luxury boat sales

This has been shared 0 times

Company-Histories.com

Companies by Letter

Quick search

Share This Story

Companies by State

Interesting Companies

Billionaire Jimmy Pattison is 94 and goes to work every day. What’s his secret?

Follow related authors and topics

Interact with The Globe

Billionaire Jim Pattison's West Vancouver house for sale for $1 — land not included

Vancouver Top Stories

Canucks' Brock Boeser out for decisive Game 7 vs. Oilers: reports

4 homes lost due to wildfire near Fort Nelson, B.C.

B.C. RCMP appeal for information in decades-old triple murder

'Play my game, trust in myself:' Canucks rookie Silovs ready for big stage in Game 7 against the Oilers

Employee information ‘compromised’ during London Drugs cyberattack, company says

UBC Bee Walk introduces locals to native pollinators

B.C. pipeline company argues its 'haulers' are not trucks, for tax purposes

Walmart, Costco refusing to sign grocery code of conduct 'untenable': industry minister

Iran President Ebrahim Raisi found dead at helicopter crash site, state media says

What we know so far about the helicopter crash that killed Iran's president

The push to Parliament's summer hiatus is about to begin, here's what you need to know

ICC prosecutor seeks arrest warrant for Israeli and Hamas leaders, including Netanyahu

Red Lobster seeks bankruptcy protection with US$100 million in financing commitments

Stittsville residents seeking answers as bylaw cracks down on street basketball nets

What is BORG drinking, and why is it a dangerous trend? An expert explains

'A horrible way to start the summer': 3 killed in serious boat crash on lake north of Kingston, Ont.

Your kids' ultraprocessed food consumption may put them at higher risk, study shows

Shopping Trends

Editor's Picks

Doctors, patients want options to reduce dialysis waste adding to climate change

'Altercation' in Penticton leaves 1 dead: RCMP

Suspect fled in 2-door Fiat after convenience store robbery, Merritt RCMP say

Kamloops RCMP issue public warning about 2 men allegedly at centre of 'organized crime conflict'

McDavid expects 'great Game 7' after Oilers rebound against Canucks

RCMP warn of grandparent scams targeting Westlock, Morinville residents

UCP constituency youth event sparks controversy online over age range

Cell phone use and testing motions pass at Alberta Teachers’ Association General Assembly

Calgary Transit offers free ride for road runners

Buttazzoni overtime goal propels Bandits past Crusaders 4-3 in BCHL playoff

Brooks fall 4-3 to Crusaders in BCHL playoff game

Lethbridge home prices continue to rise

Mixed emotions as wildfire evacuees are allowed to return home

Officer taken to hospital after Abinojii Mikanah crash

'A special bird': The unbreakable bond between purple martins and humans

Sask. police watchdog called in following 'serious incident' involving Regina SWAT

Moose Jaw street closed 'indefinitely' as police investigate crash scene

Court eases internet restrictions for Sask. man who matched with a 15-year-old girl on Tinder

Saskatchewan Roughriders visit Saskatoon for Green and White day

'The car was half inside my children's room': Car crashes into Saskatoon apartment building

Here's what's open and closed in Toronto on Victoria Day

Suspect seriously injured in York, Ont. after ammunition detonates in fire, OPP say

Ex-partner charged with first-degree murder after 55-year-old woman killed in Montreal

Two men, 18 and 20, charged with second-degree murder in stabbing death in St. Henri: Montreal police

CTV News Montreal at 6 o'clock for Sunday, May 19, 2024

NEW THIS MORNING | Review of Ottawa police operations during 'Freedom Convoy' anniversary protests finds gaps in communications

Runners get ready to 'Giv'er' at the Blue Nose Marathon in Halifax

Nova Scotia byelection vote set for Tuesday in riding formerly held by popular Tory

Wild breed shows potential for developing drought-resistant potato: researcher

Vehicle submerged in Sarnia Bay

What’s open and closed in London, Ont. this Victoria Day Monday

As missing St. Thomas, Ont. man turns 35, family still hopeful he’ll be found