Arthur Labatt, the great-grandson of John Labatt, who founded the iconic Canadian brewery in 1847, has not had a beer in decades. Now 92, he prefers wine, though he keeps a stash of cold ones for visitors at his Toronto home. The Labatt family sold their beer business in the 1960s, forcing Arthur to carve his own path. He co-founded Trimark Financial Corp. in 1981, which grew to $29 billion in assets before being sold in 2000, netting him about $400 million.
Since then, Labatt has given away approximately $150 million, primarily to hospitals and schools. His latest $40-million donation to the Centre for Addiction and Mental Health and SickKids aims to transform youth mental health care. Up to 20 per cent of youth struggle with mental health issues, and Labatt's son John noted the family wanted to change lives, not just build buildings.
Labatt himself experienced crippling anxiety and depression during high school but lacked the language to seek help. His philanthropy reflects a belief that giving feels good and addresses critical needs. "If the need is there and the funds are available, why not give?" he said.
