Barrick Gold Founder and Chairman Emeritus Peter Munk died on March 28 in Toronto surrounded by his family. He was 90. He founded Barrick in 1983 and built it into the world’s largest gold mining company in less than 25 years. He did so by leading a small team of partners who trusted one another implicitly and who together balanced boldness and prudence in the pursuit of fierce entrepreneurial ambitions. Having come to the industry as an outsider, Munk defied its conventions and implemented an innovative hedging program that helped to propel Barrick to success. As the Canadian Mining Hall of Fame, which inducted Munk into its ranks in 2002, noted, “He transformed the industry that made him a titan into something it had never been before — a financially sophisticated business able to compete with other industries for investment capital.”

(img: Peter Munk)