Famous Austrians

Frank  Stronach is an Austrian-Canadian businessman. He is the founder of Magna International, an automotive parts company based in Canada, and Magna Entertainment Corp., which specializes in horse-racing entertainment.
Born in the small town in Styria, Austria to a working-class couple, he left school to apprentice as a tool maker.
In 1954, he immigrated to Canada and started his first business there. In 1986, Stronach founded Magna Europa, with headquarters in Lower Austria, which later became Magna Steyr

Stronach, Sberbank and Opel

TORONTO (Reuters) – Magna International chairman Frank Stronach, who left Europe a virtually penniless toolmaker over 50 years ago, made a deal for Germany’s Opel, which will impact all world automobile industry.

The 76-year-old Magna founder -a rags-to-riches tycoon – emigrated to Canada aged 21. Now his auto parts firm has clinched a deal to take an Opel stake, after a week of negotiations. The son of a labour rights activist father and a factory worker mother, Stronach left school aged 14 to become a tool and die apprentice at a factory in Weiz, Styria. (more…)