Peter, Munk

The Economist is out with a first class post on Barrick Gold founder Peter Munk.

Munk’s tale

How a former refugee from the Nazis made and lost several fortunes

Apr 19th 2014 | From the print edition

YOU can’t be right all the time. In a 1995 profile of Peter Munk, the founder of Barrick Gold, a mining giant, The Economist concluded that the biggest problem facing the company was who would replace him as boss. Mr Munk will at last step down as the company’s chairman at the annual meeting on April 30th, aged 86. In the same profile we fretted that by spending $500m on a property company, Mr Munk risked ending up in the same boat as two fellow Canadian tycoons, Paul Reichmann and Robert Campeau, who had gone spectacularly bankrupt. In 2006 Mr Munk had the last laugh, selling the company for $9 billion.

Continues here.