Izaak Walton Killam

Izaak Walton Killam was a Canadian financier and philanthropist who built a cluster of interrelated regional businesses into a massive empire that straddled virtually every aspect of his native New Brunswick's economy. He was born into a family of prosperous Scottish Presbyterians in Kent County, New Brunswick, where his father ran a lumber business and a general store. He started his entrepreneurial streak early, selling vegetables to neighbours and opening a bank account at the age of five. He attended Dalhousie and Acadia Universities for short periods before serving in the Royal Flying Corps in England. He returned to Bouctouche after the First World War and took charge of the family store. He later bought a Ford gas station and car dealership, and in 1924, he established Primrose Oil, the predecessor of Irving Oil, after a dispute with Imperial Oil. He expanded his oil business into gas stations, garages, buses, trucks, ships and tanks, and became one of the largest distributors of petroleum products in the Maritimes. He also took over the family lumber business after his father's death in 1933, and acquired large tracts of timberland, pulp and paper mills, and veneer factories. He diversified his interests into various sectors, such as shipbuilding, construction, engineering, mining, media, retail, and agriculture. He established the Irving Group of Companies, a conglomerate that dominated New Brunswick's economy and employed thousands of workers. He was known for his hard work, frugality, innovation, and vision. He was also a controversial figure, who faced criticism for his political influence, environmental practices, and labour relations. He was knighted in 1966 and received several honors and awards for his services. He moved to Bermuda in 1972 for tax reasons, but remained involved in his businesses until his death in 1992. He left behind a legacy of wealth, power, and philanthropy.