Canadian Billionaire Frank Stronach

Canadian auto parts magnate Frank Stronach is facing 13 charges for alleged sexual assaults of several women from 1980 to 2023, police said Wednesday after new accusations piled up against him.

Stronach, 91, was arrested earlier this month and later released on bail, accused of five criminal offenses including rape, indecent assault, and forcible confinement.

Peel regional police Constable Nikhil Chakravarthy told AFP additional victims came forward in recent weeks leading to more charges and the billionaire's re-arrest on Wednesday.

Let's dig deeper and see who Frank Stronach is:

Frank Stronach, born on September 6, 1932, in Kleinsemmering, Austria, is a renowned Canadian businessman and the founder of Magna International one of the world's largest automotive parts suppliers. Stronach immigrated to Canada in 1954 with little money and initially worked as a machinist.

In 1957, Stronach founded Multimatic Investments Ltd, which later evolved into Magna International. Under his leadership, Magna became a major player in the global automotive industry, known for its unique corporate structure that involved employees in profit-sharing and decision-making processes.

Beyond Magna, Stronach has had interests in various industries, including horse racing and agriculture. He established Stronach Group, which owns several prestigious horse racing tracks in North America. He has also been involved in politics, founding the political party Team Stronach in Austria in 2012, although the party dissolved in 2017.

Stronach is also a philanthropist, supporting various educational and healthcare initiatives. He has received numerous awards and honors for his contributions to business and society, including induction into the Canadian Business Hall of Fame and the Order of Canada.

Stronach's approach to business, emphasizing innovation, employee involvement, and social responsibility, has left a lasting impact on the automotive industry and beyond.

Personal Life

Frank Stronach is married to Elfriede Stronach, and they have two children, Belinda Stronach and Andrew Stronach. Belinda has also been active in politics and business, following in her father's entrepreneurial footsteps.


Frank Stronach's legacy is marked by his transformative impact on the automotive industry, his innovative business practices, and his contributions to horse racing and philanthropy. His story is a testament to the potential for success through hard work, innovation, and a commitment to ethical business practices.