For a significant period, the Greenberg family has maintained a strong position among the wealthiest people in Ottawa. According to Canadian Business, this family is considered one of the richest in Canada. But what is the story behind their business success? Ottawa Ski shares the secrets of their rise to the top.
An Influential Family
The Greenberg surname is well known to every resident of Ottawa. The family has built an immense influence over decades in real estate and construction. Here are some key aspects of their legacy and contributions:
- The Minto Group corporation, originally known as Mercury Homes before being renamed in 1957, remains a leader in real estate, not only in Ottawa but also in Montreal, Toronto, Florida, and Vancouver.
- Their involvement in Ottawa REDBLACKS, showcasing their interest in sports and philanthropy.
- Lorry Greenberg Drive is named after a family member who significantly impacted Ottawa’s development.
- The Irving Greenberg Family Cancer Centre at The Ottawa Hospital.
- The Irving Greenberg Theatre Centre.
- The Minto Sports Complex at the University of Ottawa.
- The Minto Commercial Centre at La Cité.
The Minto Group
It all began when the four Greenberg brothers established a mill in an undeveloped area of Ottawa. Gilbert, Irving, Lorry, and Louis made the right decision in choosing this venture.
Following this, the brothers began constructing an extensive number of homes, including high-rises and condominiums. Notably, in 1976, they were responsible for creating Canada’s first condominium project (joint ownership of a single property).
The Minto Group continues to innovate, integrating eco-friendly advancements into residential construction. For instance, they have implemented geothermal energy exchange systems that will reduce carbon emissions by 70% in Minto developments.
Thanks to the company’s real estate donations, numerous local healthcare initiatives receive support. The influence and generosity of the Greenberg family are evident throughout Ottawa, from the Minto Sports Complex to their theatre and commercial centres.
From Waste to a Business Empire
The family was not always as influential as they are today. Their initial business ventures involved waste collection, scrap metal, old vehicles, and cowhides. They would clean and repurpose scrap materials into reusable cleaning cloths and windshield wipers.
Their first investment was in 1947 when they funded a plant in Hull, Quebec. Later, they purchased two apartment buildings in Hull, renovated them, and sold them at a profit. This led to their decision to enter the real estate sector. Over time, the Greenbergs became synonymous with both real estate and philanthropy.
What is the secret to their success? It is an exceptional sense of timing and a well-honed business model. Perhaps this is what enabled them to transition from rural entrepreneurs to elite business leaders.
It is also worth noting that in the 1970s, Lorry Greenberg served as Ottawa’s mayor (1974-1978). He left the family business to pursue a career in politics.
Beyond financial growth, the family played a significant role in shaping Ottawa’s neighborhoods. One of their core principles was directing profits toward charitable causes. This tradition was instilled in younger generations, motivating their children, nieces, and nephews through personal example.
Business and Wealth
After 2011, the Greenberg family’s wealth grew exponentially. Initially estimated at $1 billion, their fortune quickly climbed to $1.5 billion. Almost all family assets are invested in real estate.
Since 2012, Minto Group has been managed by Michael Waters, although the Greenbergs continue to exert substantial influence. Gilbert’s son, Roger Greenberg, owns a stake in Ottawa Fury FC.
The Greenberg family remains one of the wealthiest and most influential in Ottawa. Their success is the result of decades of hard work and strategic decision-making.
