Clay Riddell
Clayton Howard Riddell | |
|---|---|
| Born | 13 July 1937 near Treherne, Manitoba, Canada |
| Died | 15 September 2018 (aged 81) |
| Occupation(s) | Entrepreneur, businessman |
| Known for | Founder, president, and CEO of Paramount Resources; partial owner of Calgary Flames; philanthropist |
Clayton Howard Riddell, OC (July 13, 1937 – September 15, 2018), was a Canadian billionaire entrepreneur who founded, led as president, and served as CEO of Paramount Resources, a company based in Calgary, Alberta.
Early life
Riddell was born on July 13, 1937, on a farm close to Treherne, Manitoba, the youngest offspring of Cecil Howard Riddell and Bertha Maude Riddell (née Taylor). He completed his undergraduate studies in geology at the University of Manitoba.
Career
In addition to his primary business ventures, Riddell held partial ownership stakes in the Calgary Flames hockey team and the high-end Calgary dining establishment Catch. As of March 2011, his net worth was estimated at US$2.5 billion, placing him as the 12th wealthiest individual in Canada and 459th worldwide according to Forbes.
His leadership roles included serving as president of the Canadian Society of Petroleum Geologists and chairing the Canadian Association of Petroleum Producers, highlighting his prominent position within Canada's petroleum industry.
Among his philanthropic efforts was a $10 million contribution to the University of Manitoba’s Faculty of Environment, Earth, and Resources, which now carries his name. This faculty combines disciplines such as environmental science, geology, and natural resource management.
In recognition of his contributions to industry and philanthropy, Riddell was appointed an Officer of the Order of Canada in 2008.
In 2010, he provided Carleton University with its largest-ever gift—$15 million—to create Canada’s inaugural graduate program in political management. Named the Clayton H. Riddell Graduate Program in Political Management, this initiative was designed to prepare political staffers with a nonpartisan approach. The program was developed jointly with the Manning Centre for Building Democracy, established by former Reform Party leader Preston Manning, who also chaired its steering committee.
The donor agreement granted significant control to Riddell’s foundation over aspects such as budgeting, staffing decisions, and curriculum through appointing three out of five members on the steering committee. This arrangement sparked criticism from the Canadian Association of University Teachers (CAUT), which argued that it compromised academic freedom. Additionally, the contract permitted withholding $10 million if certain performance benchmarks were not met within five years.
After public debate and scrutiny, Carleton University revised the agreement in 2012 to better reflect academic governance standards. The steering committee's role was reduced to advisory capacity without authority over faculty recruitment or course content, both remaining under university oversight. Preston Manning continued participating in an advisory function. This episode highlighted broader concerns regarding private donor influence on public higher education institutions in Canada.
Personal life
Riddell was married for 49 years to nurse Vi Thorarinson until her passing from leukemia in 2012. Together they had four children: three daughters—Lynne, Sue, Brenda—and one son, Jim. Sue Riddell Rose is currently CEO of Perpetual Energy.
He passed away on September 15, 2018, after a short illness.