Businessman and philanthropist Michael DeGroote, best known for his support of McMaster University, passed away at 89. Everyone is curious to know his net worth at the time of his death.
Michael H. DeGroote worked for the company as an independent director. Mr. DeGroote currently holds the position of President of Westbury International, a full-service real estate development business specializing in residential development, commercial/industrial land, and property management.
Michael Degroote Net Worth At Death
As a well-known philanthropist, the billionaire was the first to have his name associated with a business school in Canada and the first donor to have a medical school named in his honor in that country.
He contributed $105 million to McMaster University in 2003, where both structures were located. It was the most significant financial donation in Canadian history at the time.
According to David Farrar, president of McMaster University, “Michael valued the significance of education as an immigrant who only went to ninth grade before he had to forge his way.”
In the 1980s, Mr. DeGroote started supporting McMaster with a $3 million donation. Over the years, he would give more than $175 million to Hamilton University.
Michael Degroote Wife And Family Background
There is no information about who his wife is. It is known that DeGroote had three sons and a daughter, 12 grandchildren, and 11 great-grandchildren, according to an obituary published online in The Spectator. He died Monday, Sept. 12.
Mr. DeGroote quit school in Grade 9 to support his family after immigrating to Canada at 14. After buying Laidlaw Transport, he began a long career of business consolidation, eventually making Laidlaw the largest school bus company and third-largest waste management company on the continent.
DeGroote moved to Canada with his parents when he was 14 years old. He was born in Belgium to Flemish parents. In grade nine, he dropped out of school to work in the tobacco fields close to Tillsonburg, Ontario, to support his family.
Michael DeGroote Death cause Explored
Michael DeGroote passed away unexpectedly, leaving family, closer relatives, and other loved ones in total devastation and sadness. Circumstances surrounding his sudden demise have not been made known to the public at the time of filing this report.
We ask that, at this time, you allow the family to take the appropriate and needed time to make preparations and grieve as a family. We ask that you call ahead to the family to respect this time of grief instead of just dropping in or passing by the family home. All official arrangements will follow at a later date.
Friends, colleagues, officials, and veterans are sending their condolences and tributes to the family regarding his death. Everyone will greatly miss him.