Lino Saputo
Lino Saputo | |
|---|---|
| Born | June 10, 1937 Montelepre, Sicily, Italy |
| Occupation | Entrepreneur |
| Known for | Founder of Saputo Inc. |
Emanuele "Lino" Saputo, born on June 10, 1937, is an Italian-Canadian billionaire entrepreneur and the founder of the Canadian cheese company Saputo Inc.. As of November 2022, his net worth is estimated by Forbes at approximately US$4.7 billion.
Early life
Lino Saputo was born in Montelepre, Sicily, to cheesemaker Giuseppe Saputo and his wife Maria. In 1952, he joined his father and brother who had relocated to Montreal, Canada, in 1950, accompanied by his mother and other siblings.
Career
In 1969, Saputo assumed the roles of chairman and president at Saputo Inc., later becoming CEO in 1997 when the company transitioned to a public entity. His son, Lino Saputo Jr., succeeded him as president and CEO in 2004, while Lino Sr. continued as chairman. By August 2017, Lino Jr. also took on the chairman position, with Lino Sr. maintaining majority ownership of the company.
In 2008, Saputo Inc. initiated defamation proceedings against three Canadian newspapers following articles that suggested connections between Lino Saputo and organized crime—allegations the company denied. Investigations uncovered ties between Saputo and U.S. mob figure Joe Bonanno spanning from 1964 to 1979.
Saputo's name appeared in the 2017 Paradise Papers due to his shareholding in a Bermuda-based aviation firm sold in 2010; a company representative clarified that this investment was made for legitimate commercial purposes rather than tax evasion.
Other interests
Saputo holds substantial ownership in the trucking enterprise TransForce and has diversified his portfolio with investments across real estate, forestry products, hospitality, and golf course ventures.
Demonstrating his passion for hockey, he founded Quartexx Management, an agency representing hockey players.
In 2011, he launched the Amelia and Lino Saputo Jr. Foundation, which aims to promote education and support upcoming generations.
Honours
Saputo was appointed an Officer of the National Order of Quebec in 2011 and was named a Member of the Order of Canada (CM) in 2012.
His son, Lino Saputo Jr., earned recognition as "Canada's Outstanding CEO of the Year" by the Financial Post in 2019.