Frank Stronach
Encyclopedia
Frank Stronach, CM
(born Franz Strohsack, 6 September 1932) is an Austria
n-Canadian
businessman. He is the founder of Magna International
, an international automotive parts company based in Aurora, Ontario
, Canada, and Magna Entertainment Corp., which specializes in horse-racing entertainment. With an estimated net worth of $US 1.7 billion (as of March 2011), Stronach was ranked by Forbes
as the 21st wealthiest Canadian and 736th in the world.
, Styria
, Austria
to working-class parents, Stronach's childhood was marked by the Great Depression
and the Second World War. At the age of 14, he left school to apprentice as a tool and die maker. In 1954, he arrived in Montreal
, Quebec
, Canada
, and later moved to the province of Ontario
. He currently resides in Oberwaltersdorf
, Austria
and Aurora, Ontario.
, a former Liberal
(and previously Conservative
) MP
and former CEO
of Magna, and Andrew Stronach, who is involved in thoroughbred horse racing, via the Adena Springs Farms breeding operations.
. In 1969, his firm acquired its first automotive parts contract and merged with Magna Electronics. In 1973, the name was converted from Multimatic Investments Ltd to Magna International Ltd. Over the following decades, after several mergers and acquisitions, his business gradually became the major force it is today. Even though Stronach was part of the labour movement
in the 1970s and 1980s, he is well known for his opposition to trade union representation for his employees.
Stronach, who is currently the non-executive chairman of Magna International, holds multiple-voting shares of the company, which gives him majority voting power over issues brought to shareholder vote. Although he controls the voting power among Magna's shareholders, Stronach owns only 4% of Magna's equity. His pay packages over the past few years have been between $30 and 50 million CAD
.
which specializes in horse-racing entertainment and owns and operates some of the most prominent racetracks in the United States. Among his early successes was his partnership with Nelson Bunker Hunt
in the filly Glorious Song
who was voted the 1980 Sovereign Award for Canadian Horse of the Year
. Stronach's horses have won the Queen's Plate
in 1994 and 1997, the Belmont Stakes
in 1997, and the Preakness Stakes
in 2000. His horse Ghostzapper
won several major races including the 2004 Breeders' Cup Classic
, was voted the Eclipse Award for Horse of the Year
, and named the World's Top Ranked Horse
for 2004.
In Canada, Stronach and/or his Stronach Stables
has won the Sovereign Award for Outstanding Owner
nine times. In the United States, he earned the Eclipse Award for Outstanding Owner
in 1998, 1999, and 2000.
In 2000, Stronach won the Eclipse Award for Outstanding Breeder
. He subsequently established Adena Springs Farms which owns horse breeding
farms in Kentucky
, Florida
and Canada and won the Eclipse Award for Outstanding Breeder in 2004, 2005 and 2006.
in the 1988 federal election
for the riding of York—Simcoe
, but was defeated by the Progressive Conservative
John Cole
. Magna International has also been noted for its connections to the Ontario PC Party and the Ontario Liberal Party
.
These connections were most famously exhibited when Progressive Conservative Premier Ernie Eves
and Finance Minister Janet Ecker
delivered the 2003 Ontario budget from a Magna plant. This led to accusations that the government was violating centuries of parliamentary tradition, and is generally believed to have had a negative impact on the Progressive Conservatives in the next provincial election.
, Lower Austria
.
Stronach started to become a notable figure also in the Austria
n public in the late 1990s. In 1997, he announced the project to build an amusement park
in Ebreichsdorf
, which would have included a giant globe
representing the earth
that would have been 110 m high and visible from every point in the Viennese Basin. The project failed due to severe public opposition.
In 1998, Magna took over Steyr Daimler Puch. In the newly merged company Magna Steyr
, he successfully prevented the establishment of works council
s, in violation of Austrian labor law by reprimanding workers who were cooperating with unions
. In 2003, Stronach also planned to take over VOEST, but this project failed. In 2004, a leisure center and the horse racing
site Magna Racino were inaugurated at Ebreichsdorf
.
Besides horse racing, Stronach is also interested in football
. He is the main sponsor of FK Austria Vienna
, which, in spite of a budget three times larger than that of its strongest competitors and the fact that Stronach is at the same time the president of the Austrian Bundesliga
, has failed to completely dominate the league, winning the Austrian Championship only twice since the club was taken over by Stronach in 1999. Stronach also founded the Frank Stronach Football Academy in Hollabrunn
to train and educate adolescent players.
Due to opposition among prominent members of FK Austria Wien
, Stronach decided on 21 November 2005 to withdraw from the club. On 24 November he decided not to seek re-election as president of the Austrian Bundesliga. However, the Frank Stronach Football Academy continues to operate.
Stronach has close ties to many Austrian top politicians from various parties. Former finance minister Karl-Heinz Grasser
(then member of the Austrian Freedom Party, supported by the Austrian People's Party
) worked for Magna for some time after leaving politics following a dispute with his mentor Jörg Haider
. Andreas Rudas, a former leading member of the Social Democratic Party of Austria
, is currently employed by Stronach.
were committing $2 million to start a model community for people displaced by Hurricane Katrina
. The Toronto Star
reported that "Magna Entertainment Corp. is [currently] providing housing for about 260 evacuees from the New Orleans area at a racetrack training facility in Palm Beach County, Florida
and will move them to a new community in November. Auto-parts giant Magna International Inc. and MEC are scouting for about 500 to 1000 acre (2 to 4 km2) in an area of Baton Rouge in Louisiana to set up trailers and infrastructure. "[W]e would like to build a small community where we would try to be sponsors for the next five to seven years", Stronach said in an interview with The Star Further details were announced on 6 October 2005 and that the new development would be officially known as Magnaville. Later the name Canadaville
was adopted.
. In December 1997, Stronach was awarded an honorary Doctor of Engineering by Kettering University
.
Order of Canada
The Order of Canada is a Canadian national order, admission into which is, within the system of orders, decorations, and medals of Canada, the second highest honour for merit...
(born Franz Strohsack, 6 September 1932) is an Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
n-Canadian
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
businessman. He is the founder of Magna International
Magna International
Magna International Inc. , is an automotive supplier headquartered in Aurora, Ontario, Canada. It is Canada's largest automobile parts manufacturer, and one of the country's largest companies. It owns the Magna Steyr automobile production company of Austria....
, an international automotive parts company based in Aurora, Ontario
Aurora, Ontario
Aurora is an affluent town in York Region, approximately 20 km north of Toronto. It is partially situated on the Oak Ridges Moraine, and is a part of the Greater Toronto Area and Golden Horseshoe of Southern Ontario.Many Aurora residents commute to Toronto and surrounding communities.In the...
, Canada, and Magna Entertainment Corp., which specializes in horse-racing entertainment. With an estimated net worth of $US 1.7 billion (as of March 2011), Stronach was ranked by Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
as the 21st wealthiest Canadian and 736th in the world.
Early life and family
Born as Franz Strohsack in the small town of KleinsemmeringGutenberg an der Raabklamm
Gutenberg an der Raabklamm is a municipality in the district of Weiz in Styria, Austria....
, Styria
Styria (state)
Styria is a state or Bundesland, located in the southeast of Austria. In area it is the second largest of the nine Austrian federated states, covering 16,401 km². It borders Slovenia as well as the other Austrian states of Upper Austria, Lower Austria, Salzburg, Burgenland, and Carinthia. ...
, Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
to working-class parents, Stronach's childhood was marked by the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
and the Second World War. At the age of 14, he left school to apprentice as a tool and die maker. In 1954, he arrived in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
, Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, and later moved to the province of Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
. He currently resides in Oberwaltersdorf
Oberwaltersdorf
Oberwaltersdorf is a town in the district of Baden in Lower Austria in Austria....
, Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
and Aurora, Ontario.
Family
He married Elfriede Sallmutter, also from Austria originally. They have two children: Belinda StronachBelinda Stronach
Belinda Caroline Stronach, PC is a Canadian businessperson, philanthropist and former politician. She was a Member of Parliament in the Canadian House of Commons from 2004 to 2008. Originally elected as a Conservative, she later crossed the floor to join the Liberals...
, a former Liberal
Liberal Party of Canada
The Liberal Party of Canada , colloquially known as the Grits, is the oldest federally registered party in Canada. In the conventional political spectrum, the party sits between the centre and the centre-left. Historically the Liberal Party has positioned itself to the left of the Conservative...
(and previously Conservative
Conservative Party of Canada
The Conservative Party of Canada , is a political party in Canada which was formed by the merger of the Canadian Alliance and the Progressive Conservative Party of Canada in 2003. It is positioned on the right of the Canadian political spectrum...
) MP
Member of Parliament
A Member of Parliament is a representative of the voters to a :parliament. In many countries with bicameral parliaments, the term applies specifically to members of the lower house, as upper houses often have a different title, such as senate, and thus also have different titles for its members,...
and former CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Magna, and Andrew Stronach, who is involved in thoroughbred horse racing, via the Adena Springs Farms breeding operations.
Business career
In 1956, Stronach started his first business, Multimatic Investments Ltd., in the old manufacturing district of TorontoToronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
. In 1969, his firm acquired its first automotive parts contract and merged with Magna Electronics. In 1973, the name was converted from Multimatic Investments Ltd to Magna International Ltd. Over the following decades, after several mergers and acquisitions, his business gradually became the major force it is today. Even though Stronach was part of the labour movement
Labour movement
The term labour movement or labor movement is a broad term for the development of a collective organization of working people, to campaign in their own interest for better treatment from their employers and governments, in particular through the implementation of specific laws governing labour...
in the 1970s and 1980s, he is well known for his opposition to trade union representation for his employees.
Stronach, who is currently the non-executive chairman of Magna International, holds multiple-voting shares of the company, which gives him majority voting power over issues brought to shareholder vote. Although he controls the voting power among Magna's shareholders, Stronach owns only 4% of Magna's equity. His pay packages over the past few years have been between $30 and 50 million CAD
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
.
Thoroughbred horse racing
Stronach is the owner of Magna Entertainment Corp.Magna Entertainment Corporation
MI Developments Inc. , formerly known as Magna Entertainment Corp., is a gambling and horse racing company in North America with several holdings in Europe and Australia, and is North America's largest thoroughbred racing company, based on revenue and holdings...
which specializes in horse-racing entertainment and owns and operates some of the most prominent racetracks in the United States. Among his early successes was his partnership with Nelson Bunker Hunt
Nelson Bunker Hunt
Nelson Bunker Hunt is an American oil company executive. He is best known as a former billionaire whose fortune collapsed after he and his brother William Herbert Hunt tried but failed to corner the world market in silver. He is also a successful thoroughbred horse breeder.-Personal:Hunt was born...
in the filly Glorious Song
Glorious Song
Glorious Song was a Hall of Fame Thoroughbred racehorse who was a Champion in Canada and the United States and became an important broodmare. Bred by the prominent horseman E. P. Taylor at his Windfields Farm in Oshawa, Ontario, she was sired by Halo and out of the mare Ballade, who also produced...
who was voted the 1980 Sovereign Award for Canadian Horse of the Year
Sovereign Award for Horse of the Year
The Canadian Horse of the Year is a thoroughbred horse racing honor given annually since 1951 by the Jockey Club of Canada. It is the most prestigious honor in Canadian thoroughbred horse racing....
. Stronach's horses have won the Queen's Plate
Queen's Plate
The Queen's Plate is Canada's oldest thoroughbred horse race. It is run at a distance of 1¼ miles for 3-year-old thoroughbred horses foaled in Canada. The race takes place each summer in June or July at Woodbine Racetrack, Etobicoke , Ontario...
in 1994 and 1997, the Belmont Stakes
Belmont Stakes
The Belmont Stakes is an American Grade I stakes Thoroughbred horse race held every June at Belmont Park in Elmont, New York. It is a 1.5-mile horse race, open to three year old Thoroughbreds. Colts and geldings carry a weight of 126 pounds ; fillies carry 121 pounds...
in 1997, and the Preakness Stakes
Preakness Stakes
The Preakness Stakes is an American flat Thoroughbred horse race for three-year-olds held on the third Saturday in May each year at Pimlico Race Course in Baltimore, Maryland. It is a Grade I race run over a distance of 9.5 furlongs on dirt. Colts and geldings carry 126 pounds ; fillies 121 lb...
in 2000. His horse Ghostzapper
Ghostzapper
Foaled in Kentucky on April 6 in the year 2000, the thoroughbred racehorse Ghostzapper won the Breeders' Cup Classic in 2004, outdistancing Roses in May by three lengths in a stakes record of 1:59.02...
won several major races including the 2004 Breeders' Cup Classic
Breeders' Cup Classic
The Breeders' Cup Classic is a Grade I Weight for Age thoroughbred horse race for 3 year olds and older run at a distance of 1¼ miles on dirt. It is held annually at a different racetrack as part of the Breeders' Cup World Championships...
, was voted the Eclipse Award for Horse of the Year
Eclipse Award for Horse of the Year
The American Award for Horse of the Year is the highest honor given in American thoroughbred horse racing. It has been awarded since 1887 to the horse, irrespective of age, whose performance during the racing year is deemed the most outstanding....
, and named the World's Top Ranked Horse
World Thoroughbred Racehorse Rankings
The World Thoroughbred Racehorse Rankings are compiled by the International Federation of Horseracing Authorities , an organization established in 2003 with headquarters in Paris, France made up of members from around the world....
for 2004.
In Canada, Stronach and/or his Stronach Stables
Stronach Stables
Stronach Stables is the North American racing arm of prominent Thoroughbred horse racing owner and breeder, Frank Stronach.The Stronach racing operation has owned and raced notable Thoroughbreds Glorious Song, Touch Gold and Giacomo in partnership with others...
has won the Sovereign Award for Outstanding Owner
Sovereign Award for Outstanding Owner
The Sovereign Award for Outstanding Owner is a Canadian Thoroughbred horse racing honor. Created in 1975 by the Jockey Club of Canada, it is part of the Sovereign Awards program and is awarded annually to the most successful owner of Thoroughbred horses racing in Canada.Past winners: -References:*...
nine times. In the United States, he earned the Eclipse Award for Outstanding Owner
Eclipse Award for Outstanding Owner
Eclipse Award for Outstanding Owner is an American Thoroughbred horse racing honor for racehorse owners. Created in 1971, it is part of the Eclipse Awards program and is awarded annually.Past winners: -References:* *...
in 1998, 1999, and 2000.
In 2000, Stronach won the Eclipse Award for Outstanding Breeder
Eclipse Award for Outstanding Breeder
Eclipse Award for Outstanding Breeder is an American Thoroughbred horse racing honor for breeders. Created in 1971, it is part of the Eclipse Awards program and is awarded annually.Its Canadian counterpart is the Sovereign Award for Outstanding Breeder....
. He subsequently established Adena Springs Farms which owns horse breeding
Horse breeding
Horse breeding is reproduction in horses, and particularly the human-directed process of selective breeding of animals, particularly purebred horses of a given breed. Planned matings can be used to produce specifically desired characteristics in domesticated horses...
farms in Kentucky
Kentucky
The Commonwealth of Kentucky is a state located in the East Central United States of America. As classified by the United States Census Bureau, Kentucky is a Southern state, more specifically in the East South Central region. Kentucky is one of four U.S. states constituted as a commonwealth...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
and Canada and won the Eclipse Award for Outstanding Breeder in 2004, 2005 and 2006.
Politics
Stronach was a candidate of the Liberal Party of CanadaLiberal Party of Canada
The Liberal Party of Canada , colloquially known as the Grits, is the oldest federally registered party in Canada. In the conventional political spectrum, the party sits between the centre and the centre-left. Historically the Liberal Party has positioned itself to the left of the Conservative...
in the 1988 federal election
Canadian federal election, 1988
The Canadian federal election of 1988 was held November 21, 1988, to elect members of the Canadian House of Commons of the 34th Parliament of Canada. It was an election largely fought on a single issue: the Canada-U.S. Free Trade Agreement ....
for the riding of York—Simcoe
York—Simcoe
York—Simcoe is a federal electoral district in Ontario, Canada, that has been represented in the Canadian House of Commons from 1968 to 1979, from 1988 to 1997 and since 2004.It covers part of the region north of Toronto by Lake Simcoe....
, but was defeated by the Progressive Conservative
Progressive Conservative Party of Canada
The Progressive Conservative Party of Canada was a Canadian political party with a centre-right stance on economic issues and, after the 1970s, a centrist stance on social issues....
John Cole
John Cole (politician)
John E. Cole was a Progressive Conservative party member of the Canadian House of Commons. He was an optometrist by career....
. Magna International has also been noted for its connections to the Ontario PC Party and the Ontario Liberal Party
Ontario Liberal Party
The Ontario Liberal Party is a provincial political party in the province of Ontario, Canada. It has formed the Government of Ontario since the provincial election of 2003. The party is ideologically aligned with the Liberal Party of Canada but the two parties are organizationally independent and...
.
These connections were most famously exhibited when Progressive Conservative Premier Ernie Eves
Ernie Eves
Ernest Lawrence "Ernie" Eves was the 23rd Premier of the province of Ontario, Canada, from April 15, 2002, to October 23, 2003.-Beginnings:...
and Finance Minister Janet Ecker
Janet Ecker
Janet Ecker is a politician in Ontario, Canada. She was a member of the Legislative Assembly of Ontario from 1995 to 2003, and was a senior cabinet minister in the governments of Mike Harris and Ernie Eves.-Background:...
delivered the 2003 Ontario budget from a Magna plant. This led to accusations that the government was violating centuries of parliamentary tradition, and is generally believed to have had a negative impact on the Progressive Conservatives in the next provincial election.
Activities in Austria
In 1986, Stronach founded Magna Europa, with headquarters in OberwaltersdorfOberwaltersdorf
Oberwaltersdorf is a town in the district of Baden in Lower Austria in Austria....
, Lower Austria
Lower Austria
Lower Austria is the northeasternmost state of the nine states in Austria. The capital of Lower Austria since 1986 is Sankt Pölten, the most recently designated capital town in Austria. The capital of Lower Austria had formerly been Vienna, even though Vienna is not officially part of Lower Austria...
.
Stronach started to become a notable figure also in the Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
n public in the late 1990s. In 1997, he announced the project to build an amusement park
Amusement park
thumb|Cinderella Castle in [[Magic Kingdom]], [[Disney World]]Amusement and theme parks are terms for a group of entertainment attractions and rides and other events in a location for the enjoyment of large numbers of people...
in Ebreichsdorf
Ebreichsdorf
Ebreichsdorf is a town in the district of Baden in Lower Austria in Austria....
, which would have included a giant globe
Globe
A globe is a three-dimensional scale model of Earth or other spheroid celestial body such as a planet, star, or moon...
representing the earth
Earth
Earth is the third planet from the Sun, and the densest and fifth-largest of the eight planets in the Solar System. It is also the largest of the Solar System's four terrestrial planets...
that would have been 110 m high and visible from every point in the Viennese Basin. The project failed due to severe public opposition.
In 1998, Magna took over Steyr Daimler Puch. In the newly merged company Magna Steyr
Magna Steyr
Magna Steyr Fahrzeugtechnik AG & Co KG is an automobile manufacturer based in Oberwaltersdorf, Austria, with its primary manufacturing location in Graz...
, he successfully prevented the establishment of works council
Works council
A works council is a "shop-floor" organization representing workers, which functions as local/firm-level complement to national labour negotiations...
s, in violation of Austrian labor law by reprimanding workers who were cooperating with unions
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
. In 2003, Stronach also planned to take over VOEST, but this project failed. In 2004, a leisure center and the horse racing
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
site Magna Racino were inaugurated at Ebreichsdorf
Ebreichsdorf
Ebreichsdorf is a town in the district of Baden in Lower Austria in Austria....
.
Besides horse racing, Stronach is also interested in football
Football (soccer)
Association football, more commonly known as football or soccer, is a sport played between two teams of eleven players with a spherical ball...
. He is the main sponsor of FK Austria Vienna
FK Austria Wien
Fußballklub Austria Wien is an Austrian association football club from the capital city of Vienna. They are considered the most successful club in Austria, having won the highest Austrian Bundesliga 23 times, the Austrian Cup 27 times and the Austrian Supercup 6 times. They also reached the UEFA...
, which, in spite of a budget three times larger than that of its strongest competitors and the fact that Stronach is at the same time the president of the Austrian Bundesliga
Austrian Bundesliga
The Austrian Football Bundesliga is the highest-ranking national league club competition in Austrian football. It is the competition which decides the Austrian national football champions, as well the country's entrants for the various European cups run by UEFA.The Austrian Bundesliga, which began...
, has failed to completely dominate the league, winning the Austrian Championship only twice since the club was taken over by Stronach in 1999. Stronach also founded the Frank Stronach Football Academy in Hollabrunn
Hollabrunn (district)
Bezirk Hollabrunn is a district of the state ofLower Austria in Austria.-Municipalities:Towns are indicated in boldface; market towns in italics; suburbs, hamlets and other subdivisions of a municipality are indicated in small characters.* Alberndorf im Pulkautal* Göllersdorf** Bergau,...
to train and educate adolescent players.
Due to opposition among prominent members of FK Austria Wien
FK Austria Wien
Fußballklub Austria Wien is an Austrian association football club from the capital city of Vienna. They are considered the most successful club in Austria, having won the highest Austrian Bundesliga 23 times, the Austrian Cup 27 times and the Austrian Supercup 6 times. They also reached the UEFA...
, Stronach decided on 21 November 2005 to withdraw from the club. On 24 November he decided not to seek re-election as president of the Austrian Bundesliga. However, the Frank Stronach Football Academy continues to operate.
Stronach has close ties to many Austrian top politicians from various parties. Former finance minister Karl-Heinz Grasser
Karl-Heinz Grasser
Karl-Heinz Grasser is a former Austrian politician who held the office of Austrian Minister of Finance from February 2000 to January 2007 as a member of the two subsequent governments of Wolfgang Schüssel...
(then member of the Austrian Freedom Party, supported by the Austrian People's Party
Austrian People's Party
The Austrian People's Party is a Christian democratic and conservative political party in Austria. A successor to the Christian Social Party of the late 19th and early 20th centuries, it is similar to the Christian Democratic Union of Germany in terms of ideology...
) worked for Magna for some time after leaving politics following a dispute with his mentor Jörg Haider
Jörg Haider
Jörg Haider was an Austrian politician. He was Governor of Carinthia on two occasions, the long-time leader of the Austrian Freedom Party and later Chairman of the Alliance for the Future of Austria , a breakaway party from the FPÖ.Haider was controversial within Austria and abroad for comments...
. Andreas Rudas, a former leading member of the Social Democratic Party of Austria
Social Democratic Party of Austria
The Social Democratic Party of Austria is one of the oldest political parties in Austria. The SPÖ is one of the two major parties in Austria, and has ties to trade unions and the Austrian Chamber of Labour. The SPÖ is among the few mainstream European social-democratic parties that have preserved...
, is currently employed by Stronach.
Hurricane Katrina
On 6 September 2005, Stronach announced that he and Magna InternationalMagna International
Magna International Inc. , is an automotive supplier headquartered in Aurora, Ontario, Canada. It is Canada's largest automobile parts manufacturer, and one of the country's largest companies. It owns the Magna Steyr automobile production company of Austria....
were committing $2 million to start a model community for people displaced by Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
. The Toronto Star
Toronto Star
The Toronto Star is Canada's highest-circulation newspaper, based in Toronto, Ontario, Canada. Its print edition is distributed almost entirely within the province of Ontario...
reported that "Magna Entertainment Corp. is [currently] providing housing for about 260 evacuees from the New Orleans area at a racetrack training facility in Palm Beach County, Florida
Palm Beach County, Florida
Palm Beach County is the largest county in the state of Florida in total area, and third in population. As of 2010, the county's estimated population was 1,320,134, making it the twenty-eighth most populous in the United States...
and will move them to a new community in November. Auto-parts giant Magna International Inc. and MEC are scouting for about 500 to 1000 acre (2 to 4 km2) in an area of Baton Rouge in Louisiana to set up trailers and infrastructure. "[W]e would like to build a small community where we would try to be sponsors for the next five to seven years", Stronach said in an interview with The Star Further details were announced on 6 October 2005 and that the new development would be officially known as Magnaville. Later the name Canadaville
Canadaville
Canadaville is a project by Austro-Canadian industrialist Frank Stronach to build an experimental model community for people displaced by Hurricane Katrina. It is situated on 3.69 square kilometres of land in Simmesport, Louisiana...
was adopted.
Honours
In 1999, Stronach was made a member of the Order of CanadaOrder of Canada
The Order of Canada is a Canadian national order, admission into which is, within the system of orders, decorations, and medals of Canada, the second highest honour for merit...
. In December 1997, Stronach was awarded an honorary Doctor of Engineering by Kettering University
Kettering University
Kettering University is a university in Flint, Michigan, offering degrees in engineering, math, science, and business. The campus is located along the Flint River on property that used to be the main manufacturing location for General Motors...
.