10 Things You Didn’t Know About N. Murray Edwards

In the world of business and philanthropy, few names resonate as much as N. Murray Edwards. The Canadian business tycoon is best known as the co-owner of the Calgary Flames along with stakes in several major Canadian companies. Edwards, who maintains a low profile, has contributed significantly to shaping the Canadian business and philanthropic landscape over the decades. Are you curious about the man behind these impressive achievements? Here are 10 things you may not know about N. Murray Edwards.

1. He Wasn’t Always Wealthy

N. Murray Edwards was not born into wealth. He comes from a humble background – his mother was a schoolteacher and his father worked as a lawyer. In his early years, he cut his teeth on odd jobs to help his family make ends meet.

Edwards pursued a Bachelor of Commerce and Law at the University of Saskatchewan and later did a Master of Business Administration from the University of Toronto. These experiences laid the foundation for his illustrious career in finance and business.

2. He is a Big Player in the Oil Sands Industry

Edwards is one of the key figures in Canada’s oil sands industry. As the chairman and 39% owner of Canadian Natural Resources Limited (CNRL), Edwards has played a pivotal role in the development of the Athabasca oil sands.

CNRL is one of the world’s largest independent crude oil and natural gas producers. Owing to his vast knowledge, Edwards is considered a key influencer deciding its future strategies.

3. He is a Passionate Hockey Fan

Many people may not know that N. Murray Edwards has a deep passion for hockey. He is a co-owner of the Calgary Flames, a professional ice hockey team of the National Hockey League based in Calgary, Alberta.

Edwards is an avid fan and strong supporter of the Flames. He often attends games and is said to be very proud of his association with this iconic team.

4. He Has Dabbled in the Movie Business

In addition to his investments in energy, Edwards has also ventured into the movie business. He is a part-owner of the entertainment giant, Landmark Cinemas Canada, which is the second-largest motion picture theatre exhibition company in Canada.

Not just content with business, Edwards has also produced a few films, showcasing his diverse interests and talents.

5. He is a Major Donor to University of Saskatchewan

As an alumnus, Edwards has strong ties with the University of Saskatchewan. Over the years, he has donated a significant amount of money to his alma mater, which has been instrumental in development projects and scholarships at the University.

Edwards’ contributions have left a lasting legacy, and many students have benefited from the scholarships coming from his generous donations.

6. He Moved to London for Tax Reasons

A well-known but often misunderstood fact about Edwards is that he moved to London, England in 2015 for tax reasons. With his vast array of business interests, Edwards qualifies as a UK non-domiciled taxpayer, allowing him to avoid paying taxes on his international earnings.

However, it’s worth mentioning that he did not renounce his Canadian citizenship and remained closely connected to his Canadian ventures.

7. He has Ties with National Parks

Edwards is one of the major shareholders in the company that owns and operates the iconic Glacier Park Lodge, Prince of Wales Hotel and other properties right in the heart of Canada’s national parks.

These affiliations give him a unique position of influence in the management and conservation of these precious natural sites.

8. He is a Private Person

Despite his success, N. Murray Edwards is a private individual. He avoids the spotlight and prefers to keep a low profile. He refrains from making public appearances and rarely gives interviews.

This trait adds an air of intrigue to his personality and has endeared him to many who admire his humility and focus on the job at hand, rather than seeking fame or recognition.

9. He Faced Widespread Criticism For a Corporate Bailout

Edwards faced widespread criticism when his firm, Canadian Natural Resources, accepted a $1.5 billion bailout from the Alberta government to clean up abandoned oil wells.

Many critics pointed out that corporations should be responsible for such costs. However, Edwards defended the move, saying it was necessary for the betterment of the environment and the economy.

10. His Net Worth is Estimated to be $1.6 Billion

As per the 2019 Forbes listing, N. Murray Edwards was listed as the 17th wealthiest Canadian. His net worth is estimated to be around $1.6 billion.

The majority of this fortune comes from his significant stakes in oil and gas ventures, mining companies, and other business interests, marking his successful career in entrepreneurship.

There you have it – ten lesser-known facets of N. Murray Edwards, the business magnate, philanthropist, sports enthusiast, and film producer. The man behind major Canadian business ventures is truly a testament to dedication, hard work, and a masterstroke of business acumen.

Useful Links:

Forbes Profile
Global News – Outlook for N. Murray Edwards in 2017
Financial Post – Edwards fights back against critics