Eric Sprott
Eric Sprott | |
|---|---|
| Born | 1944 or 1945 Canada |
| Occupation(s) | Entrepreneur, investor |
| Years active | –2017 (chairman of Sprott Inc until May 2017) |
| Known for | Founder of Sprott Securities; chairman of Sprott Inc; philanthropist (Sprott School of Business) |
Eric Sprott (born 1944 or 1945) is a Canadian entrepreneur and billionaire.
Early life
He earned a bachelor's degree from Carleton University.
Career
Sprott’s career started as a research analyst at Merrill Lynch, eventually progressing to a fund manager role. In 2001, he transferred ownership of his initial enterprise, Sprott Securities, to its employees and contributed $10 million to Carleton University. This donation led to the renaming of its business faculty as the Sprott School of Business.
Prior to the 2008 financial crisis, Sprott recommended investors acquire gold, which subsequently experienced a significant price increase, exceeding $2000 per ounce.
In April 2007, he introduced the Sprott Molybdenum Participation Corporation, a commodity-focused hedge fund concentrating on molybdenum-related assets. The fund’s objective was capital growth through investments in companies engaged in molybdenum mining and exploration. It was publicly traded on the Toronto Stock Exchange under the symbol MLY.
From 2010 until May 2017, Sprott held the position of chairman at Toronto-based asset management company Sprott Inc.
Known for his strong advocacy of gold investments, he reportedly allocates approximately 90% of his personal portfolio—excluding shares in Sprott Inc—to gold and silver holdings.
Personal life
Eric Sprott is married to Vizma Sprott and has two daughters, Juliana Haver and Larisa Sprott.